Avicanna Completes Registration and Commercial Export of its Evidence-Based CBD Dermacosmetics Brand, Pura Earth, in Ecuador

Avicanna Completes Registration and Commercial Export of its Evidence-Based CBD Dermacosmetics Brand, Pura Earth, in Ecuador

  • Four SKUs of Pura Earth branded dermacosmetics have been successfully registered with ARCSA, imported into Ecuador, and will be distributed and commercialized through previously announced partnership with Spenta S.A.
  • This marks the 12th country and market opening of Avicanna’s product offerings.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that it has completed product registration and its first commercial export of its Pura Earth branded dermacosmetics products in Ecuador.

The initial export includes four SKUs of the Pura Earth branded products that have been manufactured in Colombia under GMP conditions and will be commercialized and distributed through a partnership with Spenta S.A. through retail and e-commerce channels. The CBD dermacosmetics have also been registered and approved for sales as consumer cosmetics products by the Ecuadorian health authorities, Agencia Nacional de Regulación, Control y Vigilancia Sanitaria (“ARCSA”).

Pura Earth and the Potential of CBD Skincare

The Pura Earth product formulations have been developed and optimized to deliver purified, THC-free cannabidiol (“CBD”) in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare 1 – 2. CBD has been shown to promote skin health by inducing antioxidant, anti-inflammatory, and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions as eczema or atopic dermatitis 1-3. In addition, CBD can down-regulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin4.

Three (3) out of the four (4) Pura Earth products are dermatologist tested to ensure there are no occurrences of skin irritation or sensitization, they are demonstrated to have physical and chemical stability and each have a shelf life of at least two (2) years. The formulations have been optimized over the last three (3) years through Avicanna’s R&D infrastructure, to increase CBD uptake into the skin and address various consumer needs. In addition to the completed clinical trials all Pura Earth products are not tested on animals and are vegan.

“After years of R&D and clinical development of what we believe is the most advanced line of CBD skin care products, we are thrilled to expand our distribution capabilities into Ecuador. Although this is an early stage for the Latin American market, we believe this shows the potential of Pura Earth as a leading skin care brand in the region,” stated Lucas Nosiglia, President of Avicanna LATAM.

About the Initial 3 Pura H&W Products and the Clinical Studies

The 3 cosmetic clinical studies were completed on Avicanna’s formulations targeting cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients that were tested for safety and specific dermacosmetic endpoints, including hydration and excess oil production. All three studies achieved positive results in the endpoints with no adverse effects, making Pura Earth one of the only cannabinoid consumer lines with human safety and efficacy data. For more information please see Clinicaltrials.gov Registry.

  • Clear Skin Gel: Water-based gel contains beta-caryophyllene and tea tree extract that are known to have antibacterial and anti-inflammatory properties 5-7. In addition, rosemary oil extract has demonstrated actions against the symptomatic treatment of acne 8,9. In Avicanna’s clinical study, the Rosemary and Tea Tree Gel was investigated for its short- and long-term effects on skin hydration and sebum (oil) production on acne-prone or oily skin. The results showed significant increase in skin hydration and a significant decrease in oiliness in 93% of participants who had oily skin.
  • Intersive Moisturizing Cream: Oil-based formula uniquely marries CBD, colloidal oatmeal and hemp seed oil aimed at relieving skin redness 2,10. Colloidal oatmeal has been shown to improve skin dryness, roughness, and itch intensity 10. Avicanna’s clinical study of Colloidal Oatmeal Cream evaluated its effect on skin hydration and erythema and found that 86% of participants had decreased skin redness after 3 hours and increased skin hydration.
  • Anti-Aging Cream: Rich, lightly scented white cream with a unique amalgamation of purified CBD, Japanese cedar bud, tocopheral and hemp seed oil. This formula targets aging skin and is aimed at enhancing skin texture and skin renewal 11 .

References:
1. Tóth, K. F., et al. (2019). Cannabinoid Signaling in the Skin: Therapeutic Potential of the “C(ut)annabinoid” System. Molecules (Basel, Switzerland), 24(5), 918. htt ps://doi.org/10.3390/molecules24050918

2. Baswan, S. M., et al. (2020). Therapeutic Potential of Cannabidiol (CBD) for Skin Health and Disorders. Clinical, cosmetic and investigational dermatology, 13, 927–942. htt ps://doi.org/10.2147/CCID.S286411

3. Atalay S, et al. (2020). Anti oxidative and Anti -Inflammatory Properties of Cannabidiol. Anti oxidants. 9(1):21.

4. Oláh, A., Tóth, B., et al. (2014). Cannabidiol exerts sebostatic and anti-inflammatory effects on human sebocytes. The Journal of clinical investigation, 124(9), 3713–3724.

5. Committee on Herbal Medicinal Products (HMPC). (2013). Assessment report on Melaleuca alternifolia (Tea tree oil) and other species of Melaleuca, aetheroleum. European Medicines Agency. Article 16d(1), Article 16f and Article 16h of Directive 2001/83/.

6. Carson, C. F., Hammer, K. A., & Riley, T. V. (2006). Melaleuca alternifolia (Tea Tree) oil: a review of antimicrobial and other medicinal properties. Clinical microbiology reviews, 19(1), 50–62.

7. Bassett IB et al. (1990). A comparative study of tea tree oil versus benzoyl peroxide in the treatment of acne. Medical Journal of Australia, 153:455-458.

8. Andrade, J. M., Faustino, C., et al, (2018). Rosmarinus officinalis L.: an update review of its phytochemistry and biological activity. Future science OA, 4(4), FSO283.

9. Tsai, T. H., Chuang, L. T., et al, (2013). Rosmarinus officinalis extract suppresses Propionibacterium acnes-induced inflammatory responses. Journal of medicinal food, 16(4), 324–333.

10. Reynertson, K. A., Garay, M., Nebus, J., Chon, S., Kaur, S., Mahmood, K., Kizoulis, M., & Southall, M. D. (2015). Anti-inflammatory activities of colloidal oatmeal (Avena sativa) contribute to the effectiveness of oats in treatment of itch associated with dry, irritated skin. Journal of drugs in dermatology : JDD, 14(1), 43–48.

11. Horiba, H., et al. (2016). Biological Activities of Extracts from Different Parts of Cryptomeria japonica. Natural product communications, 11(9), 1337–1342.

About Avicanna

Avicanna is a commercial stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development, and evidence-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™/Pura Earth™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Pura Earth, visit  www.puraearth.com/es

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative, Iryna Zheliasko, by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of CBD to promote skin health by inducing antioxidant, anti-inflammatory, and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions such as eczema or atopic dermatitis, the ability of CBD to down-regulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin, the Company’s ability to ensure that the Pura Earth products will not cause skin irritation or sensitizationthe Company’s ability to continue to supply the market in Ecuador with any Pura Earth products, the Company’s ability to continue to manufacture Pura Earth products, and Pura Earth being a leading skincare brand. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 

Avicanna Announces Filing of Interim Financial Statements for Period Ended June 30, 2021 and Provides Corporate Update

Avicanna Announces Filing of Interim Financial Statements for Period Ended June 30, 2021 and Provides Corporate Update

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, Sept. 10, 2021 (GLOBE NEWSWIRE) —  Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce the filing of the Company’s unaudited interim financial statements for the three- and six-month period ended June 30, 2021, accompanying management’s discussion and analysis and related certifications ‎‎(collectively, the “Documents”) and provides a corporate update. Electronic copies of the Documents are available on SEDAR (www.sedar.com) under the Company’s issuer profile.

With the filing of the Documents, the Company anticipates that its continuous disclosure record is up to date in accordance with applicable securities law and intends to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021.

“We would like to express our gratitude to our shareholders for their patience during this unprecedented period and we thank our new auditors Kingston Ross Pasnak LLP for their professionalism in completing our 2020 audit in an expedited, yet thorough, manner. I am proud to say that, despite facing the prior audit delays and the resulting cease trade order, Avicanna has continued to meet its operational milestones, including both research and commercial initiatives, which have positioned the Company in its best standing to date. While Avicanna has been challenged with its cash position these last few quarters, we fortunately have our shareholders’ support and confidence in the team and business model. I expect the positive commercial traction we are experiencing to place us on good footing for the future,” said Aras Azadian, CEO.

Corporate Update

In the first two quarters of fiscal 2021, the Company has made significant progress in all facets of its business, notably with respect to commercial, R&D and clinical, strategic partnership initiatives:

Commercial

  • Medical cannabis in partnership with Medical Cannabis by ShoppersTM: Since the launch of Avicanna’s products in the second half of 2020, the Company has expanded the number of products available to 10 SKUs to patients who use cannabis for medical purposes to include THC-Free RHO Phyto branded non-inhalation products as well as Pura Earth topical products. Demand for Avicanna’s products has increased quarter over quarter with over 15 healthcare clinics and over 600 prescribing health care practitioners having recommended Avicanna products on the Medical Cannabis by Shoppers platform.
  • Retail (adult use) channels in Canada: As at June 30, 2021, a total of 10 listings of RHO Phyto and Pura Earth-branded product lines across provincial retail sales channels in Canada in Ontario, Manitoba, Saskatchewan, and New Brunswick. Subsequent to Q2 2021, Avicanna products are being offered for sale in Alberta, another major Canadian cannabis market.
  • Aureus™ branded exports expanded into 11th international market: Export of cannabinoid active pharmaceutical ingredients or feminized seeds into a growing number of new markets including Chile, Peru, Brazil and Austria subsequent to Q2 2021. Avicanna expects further growth of its Aureus™ supply chain, considering the further expansion of the regulatory framework in Colombia to allow for export of cannabis flower.

R&D, clinical, and pharmaceutical pipeline updates

  • Trunerox™: Completion of pharmaceutical pilot production of epilepsy drug candidate, branded as Trunerox, under GMP and ICH guidelines, a major step required for commercialization in South America.
  • UHN collaboration: Progression of the partnership related to establishing optimal cannabinoid ratios and delivery for epilepsy treatment.
  • University of Guelph collaboration: Completion of the initial phase of pre-clinical studies on the RHO Phyto formulations.
  • TRU collaboration: Research commencement with Thompson Rivers University (“TRU”) for the evaluation of cannabinoids for antibacterial effects and evaluation of cannabinoid-based products in tissue model of inflammation.
  • Osteoarthritis drug candidate: Completion of the initial phase of pre-clinical osteoarthritis evaluations after successful in vitro studies completed on RHO Phyto’s Extra Strength Deep Tissue topical drug candidate.

Strategic partnerships

  • re+PLAY and Viola: Strategic partnerships with two companies founded by former NBA star Al Harrington. These include specific formulations developed by Avicanna for the re+PLAY athletic recovery brand, which are expected to be commercialized in the US and Canada in Q4 2021, as well as licensing and commercialization of Viola™ branded products to be used with Avicanna formulations in Canada also expected to be commercialized in Q4 2021.
  • Sunnybrook Hospital: Strategic partnership with Sunnybrook Health Sciences Centre (“Sunnybrook Hospital”) whereby Sunnybrook Hospital will dispense the Company’s RHO Phyto products to patients with appropriate medical authorization onsite at the Odette Cancer Centre pharmacy.
  • Exclusive arrangement with Heritage: Exclusive agreement with Heritage Cannabis Holdings Corp. (“Heritage”) to commercialize evidence-based topical products through Heritage’s medical cannabis channels, including its deep tissue and skin care formulations. Heritage will lead medical sales and commercialization across non-competing medical channels in Canada under the Opticann brand and commits to meeting minimum sales to maintain its exclusivity of the Avicanna formulations.
  • Brazilian pharmaceutical partnership: Execution of a multi-year supply agreement by Avicanna’s Colombian subsidiary, Santa Marta Golden Hemp. S.A.S., with a Brazilian pharmaceutical company to supply industrial volumes of high THC and high CBD full spectrum psychoactive cannabis resin. The raw materials are expected to be used by the Brazilian pharmaceutical company in the production of medicinal cannabis products for commercialization pursuant to Brazil’s medicinal cannabis regulations in what is estimated to be largest cannabis market in South America.
  • Bio-Gate AG: Completion of the initial development phase for prospective products pursuant to Avicanna’s joint development agreement with Bio-Gate AG (“Bio-Gate”), a German bio-medical company. Bio-Gate will develop and deliver CBD-based dermatology and cosmetic products. Combination of Avicanna’s intellectual property and Bio-Gate’s MicroSilver BG™ technology is aimed to target indications including eczema, acne and atopic dermatitis.

Investor Webinar

On Tuesday, September 14 at 2 pm EDT, Avicanna’s CEO, Aras Azadian, will host an investor webinar, providing the latest Company updates followed by a live Q&A session. Register here: Avicanna Inc (TSX: AVCN) (OTCQX: AVCNF) (FF: ONN) Investor Webinar Registration (onlinexperiences.com)

About Avicanna

Avicanna is a commercial stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development, and evidence-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative Iryna Zheliasko by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA .

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s intention to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021, and its ability to maintain, continue, or carry out its research and commercial relationships or obligations. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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Avicanna Announces Filing of Annual Financial Statements For Year Ended December 31, 2020

Avicanna Announces Filing of Annual Financial Statements For Year Ended December 31, 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, Sept. 03, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, announces the filing of the Company’s audited annual financial statements for the year ‎ended December 31, 2020, and accompanying management’s discussion and analysis, annual information form and related certifications ‎‎(collectively, the “Documents”). Electronic copies of the Documents are available on SEDAR (www.sedar.com) under the Company’s issuer profile.

The Company is in the process of preparing its unaudited interim financial statements, management’s discussion and analysis, and related certifications (collectively, the “Interim Filings”) for each of the three month periods ended March 31, 2021 and June, 30, 2021, respectively, and anticipates filing the Interim Filings on or prior to September 9, 2021.

Upon the filing of the Interim Filings, the Issuer anticipates that its continuous disclosure record will be up to date in accordance with applicable securities law and intends to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the anticipated timing for the filing of the Interim Filings and the Company’s intention to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com . The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.[/vc_column_text][tm_spacer size=”xs:5;sm:5;md:5;lg:25″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Avicanna Completes First Commercial Export of Aureus Branded Full Spectrum Psychoactive CBD Cannabis Extracts to Brazil

Avicanna Completes First Commercial Export of Aureus Branded Full Spectrum Psychoactive CBD Cannabis Extracts to Brazil

  • This initial export to Brazil marks Avicanna’s first commercial export of psychoactive Cannabis Extracts into the emerging Brazilian medicinal cannabis market and the delivery of the initial purchase order from the previously announced three (3) year master supply agreement.
  • This shipment also marks the 11th country to which SMGH has exported the Aureus™ branded products, which include a range of CBD, THC and CBG extracts and feminized seeds.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, August 27, 2021 (GLOBE NEWSWIRE)Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that, through its majority-owned Colombian subsidiary Santa Marta Golden Hemp S.A.S. (“SMGH”), it has completed its first commercial export of 20 kg of high CBD full spectrum psychoactive cannabis extracts (the “Cannabis Extracts”) to Brazil in connection with the previously announced three (3) year master supply agreement that SMGH executed with a leading Brazilian pharmaceutical in July, 2021.

This marks the 11th country to which Avicanna has successfully completed export of Aureus-branded products in what stands as a demonstration of the Company’s capabilities, innovation, and regulatory expertise. This export also validates the emergence of the global cannabinoid sector with reliance on quality, traceability and sustainability that Avicanna’s Aureus products offer.

With a forecasted total market size of approximately USD $9 billion by 20251, Brazil is expected to be one of the biggest cannabis markets globally and the largest in Latin America, particularly for medicinal cannabis products. The Cannabis Extracts will be used in the production of several products which will be registered and commercialized in Brazil through RDC 327/19 that regulates manufacturing, registration, importation and dispensing of cannabis-derived products.

Lucas Nosiglia, President of Avicanna LATAM, commented: “This export represents a key milestone for our team and a validation of our capabilities as we continue to lead the way with our products and have now entered our 11th country with the Aureus brand. The export to Brazil also confirms the regulatory pathway and acts as a proof of concept in the largest market in South America where we aim to establish long-lasting supply relationships with our Brazilian pharmaceutical partners.”

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

1 Source: Passport, Euromonitor International, Cannabis in Latin America, July 2021

About Aureus

Avicanna’s supply chain business units are based out of Santa Marta, Colombia and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus™ brand, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federally regulated legislation in Colombia where the Company is well positioned to be a global supplier of the less competitive psychoactive extracts including CBD and THC crude oil to meet the growing global demand.

About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, and in adult use channels through provincial retailers. RHO Phyto is the first medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data; and,
  • Pura H&W™: an advanced and clinically tested line of functional CBD consumer derma-cosmetic products currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, in adult use channels through provincial retailers in Canada and nation-wide across Colombia.

With ongoing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Iryna Zheliasko by email at iryna@chfir.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to complete additional exports of Cannabis Extracts to Brazil, the ability of SMGH to continue to cultivate, extract, and manufacture the Cannabis Extracts and the ability of SMGH to supply pharmaceutical and cosmetic companies with cannabinoids (including rare cannabinoids) in addition to supplying global cultivation companies with standardized and feminized seeds. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Expands Sales of Pura Earth and RHO Phyto Branded Topicals into Alberta’s Retail Channels

Avicanna Expands Sales of Pura Earth and RHO Phyto Branded Topicals into Alberta’s Retail Channels

  • Initial listings of topical SKUs include 3 Pura Earth branded facial topical products and 1 RHO Phyto branded Extra Strength Deep Tissue Gel
  • Avicanna’s leadership in the emerging category of topicals, with listings now in 5 provinces, is attributed to the proprietary functional formulations and clinical evidence behind the products

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, August 23, 2021 (GLOBE NEWSWIRE)Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products is pleased to announce that its RHO Phyto and Pura Earth branded topicals have attained initial listings and commenced sales in the Canadian province of Alberta.

As part of the development process, Avicanna’s topicals have gone through various pre-clinical and clinical evaluation before being released to the market. These complex and proprietary topical products are developed through Avicanna’s renowned R&D platform and formulated to deliver cannabinoids with synergistic natural active ingredients with long term shelf-life stability, consistency, and enhanced absorption. Avicanna’s topical formulations are developed starting with the cannabinoids in the oil phase – a process that is critical in preventing degradation, ensuring homogeneity, and increasing absorption of cannabinoids into the skin. Avicanna’s research team brings years of product development and topical formulation expertise and have developed dozens of SKUs of cosmetics, medical and pharmaceutical preparations that available in several countries.

Aras Azadian, Avicanna’s CEO, commented: “We are thrilled to enter another major Canadian province with several of our proprietary products and two of our brands. With the emergence of cannabis 2.0 products, the market has been saturated with low quality products such as topicals, which are often produced by infusing cannabis extract into a preformulated based cream. This has been to the detriment of emerging wellness segment within the Canadian cannabis industry and a source of disappointment to the consumers who have high expectations for such products. Our market approach is to deliver these proprietary products with the support of appropriate education and training to all stakeholders. This approach will be a driving force in the establishment and growth of the wellness category and market for functional cannabinoid-based products.”

 

Pura Earth Products Overview

An advanced and clinically tested line of CBD consumer derma-cosmetic products, these unique formulations are THC-Free, dermatologist tested for irritation, cruelty-free and vegan. The fast-absorbing, formulas combine pure CBD with natural ingredients providing functional benefits for specific needs. Pura Earth products fit into any daily self-care routine and can be used in conjunction with other skincare products.

 

RHO Phyto Extra Strength Deep Tissue Gel Overview

The gel is part of the most complete and advanced medical cannabis formulary including oral, sublingual and topical products with proven success in the medical channels across Canada, including Medical Cannabis by Shoppers, and the first formulary to be available in a major Canadian hospital, Sunnybrook Health Sciences Center in Toronto.

The advanced emulsion formula has proven deep tissue delivery and increased absorption into deeper layers of the skin. The fast-absorbing, water-based formula synergistically combines cannabinoids and functional natural terpenes including menthol and clove oil which contains eugenol and beta-caryophyllene. This formulation is currently in ongoing preclinical studies evaluating the efficacy of the Deep Tissue gel for attenuating pain and inflammation in osteoarthritis. In addition, the gel is enrolled in the observational Medical Cannabis Real World Evidence Study for patients with chronic pain conducted by the University Health Network.

 

About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s ability to continue selling RHO Phyto and Pura Earth products in any province in Canada, the Company’s ability to continue selling topical products in any province in Canada, the Company’s ability to develop topical or other cannabinoid products, and the Company’s  ability to continue to deliver any products to provincial retailers. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Enters Partnership with Heritage Cannabis Holdings Corp. to Commercialize Evidence-Based Topical Products through Heritage’s Medical Cannabis Channels

Avicanna Enters Partnership with Heritage Cannabis Holdings Corp. to Commercialize Evidence-Based Topical Products through Heritage’s Medical Cannabis Channels

  • Exclusive licensing of certain of Avicanna’s advanced and evidence-based CBD topical products including its deep tissue and skin care formulations.
  • Heritage to lead medical sales and commercialization across non-competing medical channels in Canada under the Opticann brand.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, August 11, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that the Company has entered into an exclusive intellectual property licensing and royalty agreement (the “Licensing Agreement”) with Heritage Cannabis Holdings Corp. (“Heritage”) for the commercialization of a number of Avicanna’s advanced CBD-based topical products under Heritage’s medical cannabis brands (the “Branded Products”) targeting patients registered to purchase medical cannabis in Canada.

The Branded Products include Avicanna’s proprietary cannabinoid topical formulations developed through years of extensive research by Avicanna’s team of scientists. The specific products are all supported with pre-clinical studies in addition to two of the SKUs that are supported by completed human studies. The Branded Products are planned to launch by Q4 2021 through Heritage’s extensive medical sales channels in Canada and aim to address unmet medical needs of the mass market with evidence-based and standardized cannabinoid products.

Under the Licensing Agreement, which has an initial three-year term, Avicanna has exclusively licensed, subject to certain conditions and exceptions, the use of certain proprietary product formulations to Heritage to be marketed and sold under Heritage’s medical Opticann branded products in non-competing medical channels in Canada. For the exclusive license, Heritage is required to meet certain minimum sales requirements every year for each Branded Product licensed under the Licensing Agreement and will pay Avicanna a fee for each product manufactured and a royalty for each product sold to its medical cannabis consumers.

“We are excited to add Avicanna’s innovative topical products to our portfolio of highly effective medical CBD products. They are a great strategic fit. We are very impressed with Avicanna’s diligent R&D approach for developing highly effective topical products formulated with pharmaceutical technology and which are supported with evidence of efficacy, much like the existing Opticann portfolio that includes oral products that use the patented VESIsorb® technology and sublingual CBD filmstrips that use the patented Versafilm® technology. The Licensing Agreement offers Heritage speed-to-market with highly effective topicals and we see this as beginning of a highly successful commercial partnership,” said Umar Syed, President of Heritage’s medical division.

In commenting on the Licensing Agreement, Aras Azadian, CEO of Avicanna said, “We look forward to collaborating with the Heritage team to extend our proprietary and evidence-based topical formulations to more Canadian patients and expand into more medical channels nationwide. We believe that the alignment of both companies to offer the highest standards for cannabinoid-based medicine and education will yield fruitful and long-term commercial success.”

 

About Heritage Cannabis Holdings Corp.

Heritage is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the U.S., operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, feelgood., CB4 and ArthroCBD.

 

About Avicanna Inc.

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, and in adult use channels through provincial retailers. RHO Phyto is the first medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigor, manufactured under GMP standards and supported by pre-clinical data; and,
  • Pura H&W™: an advanced and clinically tested line of functional CBD consumer derma-cosmetic products currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, in adult use channels through provincial retailers in Canada and nation-wide across Colombia.

With ongoing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President, by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the laws of Canada, the Company’s ability to license its intellectual property to Heritage, Heritage ability to sell the Branded Products, the market demand for the Branded Products, and the Company’s and Heritage’s ability to engage suitable contract manufacturers. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Completes First Commercial Export of Aureus™ Branded THC Active Pharmaceutical Ingredients to Peru

Avicanna Completes First Commercial Export of Aureus™ Branded THC Active Pharmaceutical Ingredients to Peru

  • Believed to be the first commercial export of psychoactive THC cannabis extract from Colombia to Peru.
  • This marks Avicanna’s initial entrance into the emerging Peruvian cannabis market where the potential market opportunities also include its cosmetic, medical cannabis, and pharmaceutical products.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, August 3, 2021 (GLOBE NEWSWIRE)Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that, through its majority-owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), it has completed its first commercial export into Peru of high concentration THC, full spectrum psychoactive cannabis crude oil, marketed under Avicanna’s Aureus™ brand, to Peru.

Lucas Nosiglia, President of Avicanna LATAM S.A.S., commented: “We are pleased to enter the growing Peruvian market and integrate Peru into our rapidly advancing supply chain and commercial platform. We see Peru’s legislation and business opportunities related to cannabinoids-based API, cosmetics, medical and pharmaceutical products progressing rapidly, and we believe that we are in a great position to reinforce our leadership position in the region and establish long term relationships.”

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

About Aureus

Avicanna’s supply chain business units are based out of Santa Marta, Colombia and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus™ brand, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federally regulated legislation in Colombia where the company is well positioned to be a global supplier of the less competitive psychoactive extracts including CBD and THC crude oil to meet the growing global demand.

About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, and in adult use channels through provincial retailers. RHO Phyto is the first medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data; and,
  • Pura H&W™: an advanced and clinically tested line of functional CBD consumer derma-cosmetic products currently available nationwide across Canada in medical channels in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart, in adult use channels through provincial retailers in Canada and nation-wide across Colombia.

With ongoing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to complete additional exports of cannabis extracts to Peru and the ability of SMGH to continue to cultivate, extract, and manufacture the cannabis extracts. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Completes First Commercial Export of Aureus™ Branded THC Extracts to Austria and Welcomes Colombian Government’s Progressive New Regulation on Cannabis

Avicanna Completes First Commercial Export of Aureus™ Branded THC Extracts to Austria and Welcomes Colombian Government’s Progressive New Regulation on Cannabis

  • This initial export to Austria marks Avicanna’s first commercial export of psychoactive THC Cannabis Extracts into the emerging European medicinal cannabis market.
  • The new decree by the Colombian government is designed to progress commercial initiatives related to the cannabis sector and fortify Colombia’s competitive advantages at a global level
  • Several business units of Avicanna’ s vertically integrated infrastructure are positioned to benefit from the new regulatory framework set out in Decree 811 of 2021

TORONTO, July 28, 2021 (GLOBE NEWSWIRE)Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that, through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), it has completed its first commercial export of high concentration THC full spectrum psychoactive cannabis extracts to Austria. Additionally, the company welcomes the new Colombian regulation aimed at progressing the cannabis industry and its commercialization processes which positively impacts several of Avicanna’s business units and infrastructure in Colombia.

Initial shipment of THC extracts into the European Union

This shipment marks the 9th country to which SMGH has exported the Aureus™ branded products, which include a range of CBD, THC and CBG extracts and feminised seeds. Avicanna’s SVP, European Operations, Jens Kramer, commented: “We are very happy to further progress our long-term strategy to expand our API business into the emerging European market. With Avicanna’s dedication to quality standards and pharmaceutical positioning we are poised to be a significant long-term player in the European medical market that is predominantly focused on medical utility of cannabinoids and where meeting EU pharmacopeia standards are essential.”

New progressive regulation on cannabis in Colombia

Decree number 811, which was issued on July 23, 2021, modifies the regulatory framework and establishes a new and more progressive framework that will revitalize and industrialize the Colombian cannabis industry. The new regulatory framework brings new dispositions and mechanisms that: (i) improve approval times for cultivation and manufacturing quotas; (ii) create the possibility to develop and commercialize food products with cannabis; (iii) remove the prohibition to export cannabis dry flower; (iv) broaden the authorized dispensation mechanisms for cannabis compound formulas; and (v) removes the prohibition regarding the promotion or advertisement of cannabis, cannabis by-products, and products containing cannabis.

Expected benefits to Avicanna’s business units and infrastructure in Colombia  

The improvements brought upon by this new regulatory framework are expected to have a positive impact in several segments of the cannabis industry in Colombia, and more specifically in several business units of Avicanna’s vertically integrated infrastructure in Colombia:

  • The increase in efficiency in the quota approval process for cultivation and manufacturing and the possibility to export cannabis dry flower is expected to enhance the market opportunity for Avicanna’s supply chain business under the Aureus ™ brand that has been shipping cannabinoid extracts and feminized seeds into 4 continents from its Colombian base, as well as generate a new demand for Avesta Genetica’s feminized seeds catalog among the approximately 700 licensed cannabis cultivators in Colombia.
  • Creation of a new category of food products for B-B and finished products that can also benefit from Avicanna’s proprietary water soluble and highly bio-available formulations
  • The inclusion of drugstores as viable dispensation locations for cannabis compound formulas is expected to invigorate Avicanna’s currently commercial compound pharmacy business unit by creating thousands of potential dispensation establishments.
  • The removal of the prohibition regarding the promotion or advertisement of products containing cannabis, is expected to stimulate Avicanna’ s finished product segment by permitting a more direct and comprehensive marketing approach for brands such as Pura H&W™ and RHO Phyto™ in Colombia.

Lucas Nosiglia, President of Avicanna LATAM, commented: “We are pleased to see Colombian cannabis regulations progressing, opening new opportunities in addition to fortifying the existing business models we have already established with strict limitation. This further validates our vision and decision to build our infrastructure in Colombia where we expect to be able to supply our partners and all Avicanna’s cannabinoid needs.”

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

About Aureus

Avicanna’s supply chain business units are based out of Santa Marta, Colombia and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus™ brand, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federally regulated legislation in Colombia where the company is well positioned to be a global supplier of the less competitive psychoactive extracts including CBD and THC crude oil to meet the growing global demand.

About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to complete additional exports of Cannabis Extracts to Austria, the ability of SMGH to continue to cultivate, extract, and manufacture the Cannabis Extracts and the ability of SMGH to supply drugstores, pharmacies, and pharmaceutical and cosmetic companies with cannabinoids (including rare cannabinoids) and cannabis-derived products, in addition to supplying global cultivation companies with standardized and feminized seeds. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Announces Change of Auditor

Avicanna Announces Change of Auditor

TORONTO, July 16, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, announces the appointment of Kingston Ross Pasnak LLP (the “Successor Auditor”) as its independent registered public accounting firm, effective July 15, 2021, to hold office until the next annual meeting of the shareholders of the Company. The Successor Auditor was appointed following the resignation of MNP LLP (the “Former Auditor”) as the Company’s independent registered public accounting firm.

There were no reservations or modified opinions in the Former Auditor’s audit report for the fiscal year ended December 31, 2019. However, there is a reportable event with respect to an unresolved issue, as such terms are defined in National Instrument 51-102 — Continuous Disclosure Obligations (“NI 51-102”), related to the audit of the Company’s financial statements for the year ended December 31, 2020 (the “2020 Financial Statements”) as the internal control issues it identified are such that the Former Auditor has concluded that it will not be in a position to issue an opinion on 2020 Financial Statements. The Company has authorized the Former Auditor to respond fully to inquiries by the Successor Auditor concerning the issue.

The change of the auditor and the recommendation to appoint the Successor Auditor was approved by the Audit Committee and the Board of Directors of the Company. In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the board of directors of the Company and filed on SEDAR.

About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Executes Multi Year Agreement to Supply Brazilian Pharmaceutical Company with THC and CBD Cannabis Extracts

Avicanna Executes Multi Year Agreement to Supply Brazilian Pharmaceutical Company with THC and CBD Cannabis Extracts

  • Avicanna’s standardized CBD and THC Cannabis Extracts are to be utilized to produce a range of cannabis-derived products for the Brazilian market of 211 million people.
  • Fulfillment of purchase orders based on preliminary forecasts for 2022 is expected to generate approximately CAD$4 million in revenue for Avicanna.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, July 07, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), has executed a three (3) year master supply agreement with a leading Brazilian pharmaceutical company to supply industrial volumes of high THC and high CBD full spectrum psychoactive cannabis resin (the “Cannabis Extracts”).

The Cannabis Extracts will be used in the production of several products which will be registered and commercialized in Brazil through RDC 327/19 that regulates manufacturing, registration, importation and dispensing of cannabis-derived products.

Fulfillment of purchase orders under the agreement is expected to commence in 2021 for pilot batches. Fulfillment of purchase orders for commercial batches in 2022, based on initial forecasts made by the Brazilian pharmaceutical company pursuant to the agreement, is expected to generate approximately CAD$4 million in revenue for Avicanna.

The Cannabis Extracts are cultivated, extracted and manufactured by SMGH pursuant to US and European pharmacopeia standards, the leading standards for the quality of products that may be used as active pharmaceutical ingredients (“API”). SMGH’s product offerings include Cannabis Extracts as well as isolated CBD, THC, and CBG and standardized seeds, which are marketed under the Company’s brand, Aureus™.

Aras Azadian, CEO of Avicanna, commented: “This first of its kind partnership for Avicanna further validates the company’s competitive advantages and capability of producing sustainable, standardized and economical source cannabinoid API for our own product pipeline in addition to supplying our global pharmaceutical partners.”

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.


About Avicanna

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing clinical trials on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.


Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to complete additional exports of Cannabis Extracts to Brazil, the Brazilian pharmaceutical company continuing to purchase the Cannabis Extracts from SMGH, and the ability of SMGH to continue to cultivate, extract, and manufacture the Cannabis Extracts. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.