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.

Avicanna and Bio-Gate Complete First Phase of Development on Cannabidiol (CBD) and MicroSilver BG™ Based Skin Care Products for Global Commercialization

Avicanna and Bio-Gate Complete First Phase of Development on Cannabidiol (CBD) and MicroSilver BG™ Based Skin Care Products for Global Commercialization

  • Initial development is part of a licensing and development agreement between the two companies to develop and deliver 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.

/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, June 29, 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 initial development phase for prospective products has been completed through a licensing and development agreement with Bio-Gate AG (ISIN DE000BGAG981) (“Bio-Gate”), a German bio-medical company with a focus on health technologies such as cosmetics and dermatology products.

As part of the collaboration, Bio-Gate is developing active cosmetic and dermatology products, in collaboration with Avicanna, that combine MicroSilver BG™ and hemp derived CBD. Bio-Gate and Avicanna hope to discover that the combination of MicroSilver BG™ and hemp derived CBD will have synergistic anti-inflammatory and antibacterial effects. Following the development and in vitro studies, Bio-Gate and Avicanna aim to have the products available for human applications and further studies of target indications including acne, eczema, and atopic dermatitis.  Avicanna and Bio-Gate intend to initially market the products in Europe and North America.

Marc Lloret-Grau, CEO of Bio-Gate AG, on the new cooperation: “We are delighted to have Avicanna as our strategic partner as a leading cannabinoid biopharmaceutical company that focuses on cosmetics, skincare and medical based product applications. The collaboration represents a bridge for Bio-Gate to further new technologies. We are once again expanding our product range and thus tapping into a new and extremely high-growth market.”

Aras Azadian, CEO of Avicanna Inc., stated: “We are thrilled to announce our partnership and achievement of our initial milestones with Bio-Gate, a European bio-medical company with focus on health technologies like dermatology and skin care. We are also optimistic about the potential combination of Avicanna’s intellectual property with that of Bio-Gate’s in addition to the market access and expertise that the two companies can provide in this collaboration.”

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 Earth™ or 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™. 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 (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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

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 combination of MicroSilver BG™ and hemp derived CBD having synergistic anti-inflammatory and antibacterial effects, the products becoming available for human applications, and the ability of Avicanna to initially market the products in Europe and North America. 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.

  1. Deloitte Canada (2021). Seeding New Opportunities Listening to Canada’s Cannabis Consumer – Cannabis Consumer Report (2021). Available at https://www2.deloitte.com/ca/en/pages/consumer-business/articles/listening-to-canadas-cannabis-consumer.html?icid=listening-to-canadas-cannabis-consumer_en


Avicanna Announces Results of Annual General Meeting and Provides Corporate Update

Avicanna Announces Results of Annual General Meeting 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, June 24, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that all of management’s nominees listed in the Company’s management information circular dated May 25, 2021 were elected as directors of the Company at Avicanna’s annual general meeting of shareholders held on June 24, 2021 (the “Meeting”). The detailed results of the vote for the election of directors held at the Meeting are set out below.

Name of Nominee Votes cast FOR % votes cast
FOR		 Votes
WITHHELD		 % votes
WITHHELD
Aras Azadian 14,238,710 99.94% 8,851 0.06%
Dr. Chandrakant Panchal 14,215,568 99.78% 31,993 0.22%
Setu Purohit 13,410,830 94.13% 836,731 5.87%
Giancarlo Davila Char 14,231,255 99.89% 16,306 0.11%
Flavio Jose Zaclis 14,238,710 99.94% 8,851 0.06%
Dr. Assad J. Kazeminy 14,238,710 99.94% 8,851 0.06%
John McVicar 14,238,710 99.94% 8,851 0.06%

 

At the Meeting, the Company’s shareholders also approved the appointment of MNP LLP as the Company’s auditors for the ensuing year and authorized the board of directors to fix the auditors’ remuneration.

Introduction to the new board members

Dr. Assad J. Kazeminy is the founder and former President and CEO of Irvine Pharmaceutical Services Inc. and Avrio Biopharmaceutical LLC. Dr. Kazeminy received his doctorate degree in Pharmaceutical Sciences, graduate studies in Biochemistry and completed his post doctorate at the University of Southern California (USC) Medical School, Department of Pharmacology. Since January 2014, Dr. Kazeminy has been a member of the Chapman University School of Pharmacy (CUSP) Dean’s Professional Advisory Group, has served as a member of the United States Pharmacopeia (USP) Console of Experts 2000-2020 and has been awarded by United States Pharmacopeia a Winner for Innovative Responses to a Public Health Challenge.

Flavio Jose Zaclis has more than 20 years of experience in private equity, venture capital and entrepreneurial projects. After completing several investment cycles, Mr. Zaclis founded Barn Investimentos in 2012, a venture capital investment boutique, dedicated to early-stage investments in the Brazilian and Latin American markets. Mr. Zaclis is a board member of several companies and has actively participated in initial public offerings, private placements, and merger and acquisition negotiations for portfolio companies. Mr. Zaclis is responsible for fundraising, deal execution, and team leadership at Barn Investimentos.

John McVicar is an experienced senior finance executive with more than 30 years of Canadian and international experience in both industry and professional services. Mr. McVicar retired as a Consulting Partner at Ernst & Young LLP (EY) where he focused on advising large corporations to drive operational excellence and to transform the performance of their finance organizations. Prior to EY, he spent 10 years in senior finance roles with several Canadian and U.S. public companies. Mr. McVicar brings significant international experience. During his career, he has served in roles based in Canada, South America, the U.S., Europe, Asia and Africa. Mr. McVicar is a CPA, CA and holds an MBA from the Fuqua School of Business at Duke University.

Corporate Update

The Company continues to make significant progress on its R&D, clinical and pharmaceutical initiatives and is pleased to provide an update on the commercial progress over the past few months across international markets.

The past several months have been an exciting new phase for the Company as its highly differentiated and advanced products have established a strong market presence while at the same time building consumer and patient loyalty. In Canada, Avicanna has successfully launched RHO Phyto and Pura Earth branded products across adult use and medical channels to which purchase orders of approximately 15,000 units of finished products were fulfilled in Q2 2021, an approximate 250% increase from Q1 2021. In South America, the company has also achieved major milestones including the launch of its medical program in Colombia and additional export of raw materials into a total of 8 countries to date.

RHO Phyto Medical Cannabis Products

  • Introduction of new products including THC-free formulations and deep tissue gel for a total of 7 SKUs in partnership with Medical Cannabis by Shoppers Drug Mart Inc., in addition to expansion of the RHO Phyto products into the adult use channels including initial listings in Ontario, Saskatchewan, Alberta, Manitoba, and New Brunswick.
  • Launch of initiative to supply major Canadian hospitals with RHO Phyto products including a first of its kind supply agreement with Sunnybrook Hospital, where the products will be available and dispensed in the hospital’s pharmacy.
  • In Colombia, the formulations have been successfully launched under the magisterial (compounding) program, where the products are manufactured utilizing Avicanna’s vertical integration capabilities and where patients can be re-imbursed by insurance providers.

Pura Earth and Pura H&W CBD Cosmetics

  • Initial listings and commercialization of Pura Earth products across adult use channels including Ontario, Alberta, Saskatchewan, and medical channels in partnership with Medical Cannabis by Shoppers Drug Mart Inc.
  • Completion of the initial export of Pura H&W products into the United States to exclusive distribution partner Red White and Bloom Brands Inc.

Pharmaceutical Pipeline and Drug Submissions

  • Completion of the pharmaceutical dossier for 10% CBD oral formulation under GMP manufacturing and ICH guidelines for drug submissions in Colombia, Ecuador, Argentina, and Brazil in 2021.
  • Completion of the first phase of pre-clinical studies in Canada for a topical pharmaceutical candidate for pain and inflammation in an animal model of osteoarthritis.
  • Ongoing drug discovery with UHN on optimized cannabinoid ratio for the treatment of refractory epilepsy and behavioural studies on RHO Phyto products and set-up of animal models for evaluating efficacy of formulations on addiction withdrawal at the University of Guelph.

Other highlights

  • Commercial export of CBD, CBG, THC and feminized seeds have reached 8 countries with the recent addition of exports to Chile.
  • Completion of manufacturing of 3 re+Play topical SKUs in preparation for the Q3 2021 launch of the products across the United States in an alliance with former NBA star Al Harrington.
  • Ongoing manufacturing of re+Play SKUs in Canada, where the products have already attained listings from the Ontario cannabis store and Medical Cannabis by Shopper’s Drug Mart Inc.

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:

  • Pura EarthTM or Pura H&WTM: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO PhytoTM: 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 ShoppersTM, 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 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing studies on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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 continued or any sales of any of the Company’s products in any market, ability to conduct or complete any clinical studies, completion of any technical or pharmaceutical dossier, and ability to make drug submissions in any market. 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 The Canadian RHO Phyto Product Offerings With The Addition Of THC-Free High CBD Oral And Sublingual Formulation Across Medical And Adult Use Channels

Avicanna Expands The Canadian RHO Phyto Product Offerings With The Addition Of THC-Free High CBD Oral And Sublingual Formulation Across Medical And Adult Use Channels

  • The two THC-Free RHO Phyto products will be available through the Medical Cannabis By ShoppersTM online portal and across specific adult use channels.
  • Avicanna’s commercial products in Canada increase to 10 SKU’s where the CBD only oral products are targeted at patients, wellness focused consumers and new users who seek the benefits of CBD without the psychoactive effects of THC.
  • The products incorporate purified CBD in combination with Avicanna’s advanced formulations designed for consistency as well as enhanced flavor, absorption, and stability.

/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, June 15, 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 two THC-free RHO Phyto™ products are available for purchase in Canada through the Medical Cannabis By Shoppers™ online portal and in Manitoba. The RHO Phyto Micro Drop Oil and Rapid Act Spray product lines are expanded to include THC-free products utilizing purified CBD from cannabis extracts that do not contain any detectable amounts of THC. All RHO Phyto products have been optimized to ensure shelf-life stability and provide accurate and consistent dosing over time. Additionally, these formulations are designed to provide higher and faster cannabinoid absorption compared to basic MCT (medium-chain triglyceride) oil products available in the market. The RHO Phyto Micro Drop Oils, offered in blood orange flavour, are designed for longer lasting effects, while the Rapid Act Sprays are offered in lemon mint flavour and faster acting for more acute effects.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ec81a5a3-499d-4fd7-ae9d-4dfad3f024e3

Benefits Of Pure CBD Product Offerings

THC-free cannabinoid products have long been advocated for by Health Care Providers as a potential alternative for individuals who should avoid THC. A recent Cannabis Consumer Report by Deloitte (the “Deloitte Report”) demonstrated that new cannabis consumers reported key drivers for using CBD-only products being sleep and relaxation (58%), and alleviating stress or anxiety (47%). Additionally, another 47% were interested in using for specific medical reasons1.

“We are confident that these formulations complete Avicanna’s RHO Phyto branded medical formulary and provide consumers, patients and the medical community access to standardized CBD products free of THC. We also believe that the opportunity for CBD only products is beyond the cannabis connoisseur and its potential channels will be beyond the current cannabis channels in the future,” states Aras Azadian, CEO Avicanna Inc.

The Canadian Market Opportunity And Global Market Potential

Avicanna’s RHO Phyto products have had early success in both adult use and medical channels and the line extension that includes THC-free high CBD products further expands and now includes 7 SKUs in Canada. In parallel, patient and consumer interest for THC-free products and non-inhalable products continues to grow, the Deloitte Report found that 22% of returning and 39% of new consumers are interested in CBD only or THC-free products, while 30% of existing users cited lack of negative effects informing purchasing decisions.

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 Earth™ or 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™. 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 (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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

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 RHO Phyto Micro Drop Oil and Rapid Act Spray product having zero THC. 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.

1. Deloitte Canada (2021). Seeding New Opportunities Listening to Canada’s Cannabis Consumer – Cannabis Consumer Report (2021). Available at https://www2.deloitte.com/ca/en/pages/consumer-business/articles/listening-to-canadas-cannabis-consumer.html?icid=listening-to-canadas-cannabis-consumer_en

 

Avicanna Announces Mailing of Management Information Circular and Proposed Board Changes

Avicanna Announces Mailing of Management Information Circular and Proposed Board Changes

/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, June 3, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) is announcing that it has commenced mailing its management information circular (the “Information Circular”) and related proxy materials in relation to Avicanna’s annual general meeting of shareholders (the “Meeting”) to be held on Thursday, June 24, 2021 at 9:00 a.m. (Toronto time). A copy of the Information Circular will be available under Avicanna’s profile at www.SEDAR.com.

Due to the public health impact of the COVID-19 pandemic, the Meeting will be held in a virtual-only format, via live webcast at https://web.lumiagm.com/256734754. A virtual-only meeting is being adopted this year to give all shareholders an equal opportunity to participate at the Meeting. Further details, including business to be conducted at the Meeting and instructions on how to vote and attend the virtual Meeting can be found in the Information Circular and related proxy material. Avicanna’s shareholders are reminded that completed proxy forms must be received by no later than 9:00 a.m. (Toronto time) on June 22, 2021.

Further, the Company wishes to announce that each of David Allan White and Benjamin Leavenworth has advised the Company that they will not be standing for re-election to the Company’s board of directors (the “Board”) at the Meeting. The Company thanks Mr. White and Mr. Leavenworth for their significant contributions to the Company as members of the Board and wishes them well in all of their endeavors.

At the Meeting, Avicanna’s shareholders will be asked to re-elect Aras Azadian, Dr. Chandrakant Panchal, Setu Purohit, and Giancarlo Davila Char to the Board and to elect the following new members of the Board:

  • Flavio Jose Zaclis – Zaclis graduated from Emory University’s Goizueta Business School and has 20 years of experience in private equity and venture capital. In Latin America, he worked for a few private equity general partners, where he participated in many deals in diverse sectors. Flavio has also been an entrepreneur, having founded Brazil’s first barter exchange. After completing several investment cycles, Mr. Zaclis founded Barn Investimentos in 2012, a venture capital investment boutique, dedicated to early-stage investments in the Brazilian and Latin American markets. Mr. Zaclis is a board member of several companies and has actively participated in initial public offerings, private placements, and merger and acquisition negotiations for portfolio companies. Mr. Zaclis is responsible for fundraising, deal execution, and team leadership at Barn Investimentos.
  • Assad J. Kazeminy – Dr. Kazeminy is the founder and former President and CEO of Irvine Pharmaceutical Services Inc. and ‎Avrio Biopharmaceutical LLC. Dr. Kazeminy received his ‎doctorate degree in Pharmaceutical Sciences from Isfahan University, Isfahan, Iran. He continued his ‎graduate studies in Biochemistry at Colorado State University and completed his post doctorate at the ‎University of Southern California (USC) Medical School, Department of Pharmacology. In addition, Dr. ‎Kazeminy has taught at USC and has conducted research at the University of California, Irvine. Dr. ‎Kazeminy has served as a member of the United States Pharmacopeia (USP) Console of Experts 2000-‎‎2020 where he has been a member of the USP Convention and the USP advisory panels on Metal ‎Impurity and Residual Solvents. Dr. Kazeminy has been awarded by United States Pharmacopeia a ‎Winner for Innovative Responses to a Public Health Challenge related to his outstanding work on a new ‎general chapter of USP on elemental impurities in parenteral products and the creation of science-based ‎daily exposure risk approach to Patient Safety 2010- 2015. Dr. Kazeminy has also been a member of the ‎University of California, Irvine, Chief Executive Roundtable since 2005. He has served as a board ‎member of UCI Applied Innovation since 2014, and a board member of the Physical Science Dean’s ‎Leadership Council at UCI. Recently, he become board member of Dean’s Leadership Council at UCI ‎School of Pharmaceutical Sciences.
  • John McVicar – Mr. McVicar is an experienced senior finance executive with more than 30 years of Canadian and ‎international experience in both industry and professional services. Mr. McVicar retired as a Consulting ‎Partner at Ernst & Young LLP (EY) where he focused on advising large corporations to drive operational ‎excellence and to transform the performance of their finance organizations. Prior to EY, he spent 10 ‎years in senior finance roles with several Canadian and U.S. public companies. Mr. McVicar brings ‎significant international experience. During his career, he has served in roles based in Canada, South ‎America, the U.S., Europe, Asia and Africa. Mr. McVicar is a CPA, CA (Ontario), holds an MBA from the ‎Fuqua School of Business at Duke University and a Bachelor of Commerce from Queen’s University. ‎He is currently undertaking the ICD.D program from the Institute of Corporate Directors.‎

Mr. Azadian, Chief Executive Officer of Avicanna commented: “We would like to thank David and Ben for their contributions during the critical development years of the Company. We also welcome the expertise and experience of the new nominees and their anticipated contributions in the next stage of our growth as a now commercial stage bio-pharmaceutical company.”

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:

  • Pura EarthTM or Pura H&WTM: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO PhytoTM: 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 ShoppersTM, 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 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing studies on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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 anticipated date of the Meeting. 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’s Evidence-Based and Dermatologist Tested CBD Derma-Cosmetic Brand Pura Earth™ to be Launched in Adult-Use and Medical Channels Across Canada in Q2 2021.

Avicanna’s Evidence-Based and Dermatologist Tested CBD Derma-Cosmetic Brand Pura Earth™ to be Launched in Adult-Use and Medical Channels Across Canada in Q2 2021.

  • The THC-Free, CBD derma-cosmetic brand is the first known CBD skincare line to be clinically tested and commercialized across cannabis channels nationwide in Canada.
  • The initial launch of Pura Earth will include 3 products that will be available through Medical Cannabis by ShoppersTM online platform and across adult-use channels in Ontario and Saskatchewan.
  • The line has been successfully launched in Latin America with planned launches in the United Kingdom, United States, and Ecuador in 2021.

/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, May [26], 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (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 three (3) Pura Earth products are to be launched in Canada in Q2 2021 through the Medical Cannabis by Shoppers™ online portal, and in adult-use channels including the provincials retailers and storefronts in Ontario and Saskatchewan.

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 skincare1-2. 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 dermatitis1-3. 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.

The three (3) Pura Earth products are dermatologist tested to ensure there are no occurrences of skin irritation or sensitization; and demonstrated to have physical and chemical stability and have shelf life of at least 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.

“We are thrilled to announce Pura Earth’s initial entrance into the Canadian market through various cannabis channels where we are optimistic about its market potential as an industry leading cannabinoid-based skin care line. We have been pleasantly surprised by the initial interest from consumers, retailers and our partners in Canada for these products and believe the line will help set the standard for cannabinoid-based skin care as the first pre-clinically backed, dermatologist tested product offering”. States Aras Azadian, CEO Avicanna Inc.

The Canadian Market Opportunity and Global Market Potential

Pura Earth branded products are positioned to become a leading international CBD skincare brand including its successful initial product launch in Colombia, prior to the Canadian this quarter and expected launches planned for 2021 in the United States, the United Kingdom and Ecuador.

Pura Earth will launch in Canada through the Medical Cannabis by ShoppersTM online platform and adult-use channels including initial listings in Ontario and Saskatchewan. In addition to providing the first pre-clinically backed skincare products to the Canadian cannabis market, Pura Earth is poised to be a top choice among new consumers entering the cannabis space in search of topical products. In a 2021 report on Canadian cannabis consumers, Deloitte noted that nearly half of new users are more likely to prefer CBD-only products with 34% of existing consumers citing general health & wellness as drivers of CBD consumption.

Additionally, the Canadian launch of Pura Earth is potentially the first step in a long-term national strategy which may include the regulatory pathway to commercialize CBD topical products across cosmetic, over the counter and natural health product designations.

About the initial 3 Pura Earth products and their clinical trials 

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 derma-cosmetic 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.

  • Rosemary and Tea Tree Gel: Water-based gel contains beta-caryophyllene and tea tree extract that are known to have antibacterial and anti-inflammatory properties5-7. In addition, rosemary oil extract has demonstrated actions against the symptomatic treatment of acne8,9. 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.
  • Colloidal Oatmeal Cream: Oil-based formula uniquely marries CBD, colloidal oatmeal and hemp seed oil aimed at relieving skin redness2,10. Colloidal oatmeal has been shown to improve skin dryness, roughness, and itch intensity10. 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.
  • Japanese Cedar Bud Face 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 renewal11.

References:

  1. Tóth, K. F., et al. (2019). Cannabinoid Signaling in the Skin: Therapeuti c Potenti al of the “C(ut)annabinoid” System. Molecules (Basel, Switzerland), 24(5), 918. htt ps://doi.org/10.3390/molecules24050918 
  1. Baswan, S. M., et al. (2020). Therapeuti c Potenti al of Cannabidiol (CBD) for Skin Health and Disorders. Clinical, cosmeti c and investi gati onal dermatology, 13, 927–942. htt ps://doi.org/10.2147/CCID.S286411
  1. Atalay S, et al. (2020). Anti oxidati ve and Anti -Infl ammatory Properti es of Cannabidiol. Anti oxidants. 9(1):21.
  1. Oláh, A., Tóth, B., et al. (2014). Cannabidiol exerts sebostati c and anti -infl ammatory eff ects on human sebocytes. The Journal of clinical investi gati on, 124(9), 3713–3724.
  2. 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/.
  3. 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.
  4. 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.
  5. 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.
  6. Tsai, T. H., Chuang, L. T., et al, (2013). Rosmarinus officinalis extract suppresses Propionibac- terium acnes-induced inflammatory responses. Journal of medicinal food, 16(4), 324–333.
  1. 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.
  2. Horiba, H., et al. (2016). Biological Activities of Extracts from Different Parts of Cryptomeria japonica. Natural product communications, 11(9), 1337–1342.

 

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:

  • Pura Earth™ or 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™. 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 (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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 Pura Earth, visit www.puraearthcanada.com .

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 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 sensitization, the Pura Earth products being industry leading cannabinoid-based skin care line, the Pura Earth products being the first pre-clinically backed, dermatologist tested product offering, Pura Earth branded products being positioned to become an international CBD skincare brand leveraging the initial product launch in Colombia, Pura Earth being poised to be a top choice among new consumers entering the cannabis space in search of topical products,[●]. 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 Makes RHO Phyto™ Medical Cannabis Products Available In Canadian Hospital Pharmacies Through Agreement with Sunnybrook Hospital

Avicanna Makes RHO Phyto™ Medical Cannabis Products Available In Canadian Hospital Pharmacies Through Agreement with Sunnybrook Hospital

  • Avicanna launches its initiative to supply major Canadian hospitals with its advanced RHO Phyto medical cannabis products supported by education, training, and patient support programs.
  • Seven RHO Phyto products will be available for purchase at Sunnybrook Hospital’s Odette Cancer Centre pharmacy by patients that have been issued a written order from an authorized health care practitioner.
  • The collaborative program is aimed at setting a gold standard for medical cannabis care by establishing a complete cannabis consultation and dosing regimen provided through the expertise of Avicanna’s medical team and the Sunnybrook Hospital pharmacy team.

/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, May 06, 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 entered into a relationship agreement (the “Agreement”) whereby Sunnybrook Health Sciences Centre (“Sunnybrook Hospital”) will distribute the RHO Phyto products to patients with appropriate medical authorization at Odette Cancer Centre pharmacy. This first of its kind collaboration will focus on increasing healthcare provider and patient education on medical cannabis products and provide patients with a one stop process for accessing plant-based cannabis for medical use, in coordination with their hospital healthcare team. Pursuant to the Agreement, Avicanna and Sunnybrook Hospital which is one of Canada’s leading hospitals and research centres have agreed to collaborate on the development of an education program to educate patients and train health care professionals about the RHO Phyto product formulary.

The growing demand for access to standardized cannabinoid medicine in the medical community, coupled with the advancement of cannabis access regulations permits Canadian hospitals with appropriate infrastructure to store and dispense qualified medical cannabis products such as the RHO Phyto offerings. Avicanna and Sunnybrook Hospital aim to establish a gold standard of care for cannabinoid-based medicine by providing support and educating and training physicians, pharmacists and patients on the formulary of the RHO Phyto products. This education initiative will allow for a personalized medicine approach with the support and consultation of both the patient’s physicians and pharmacists to track patient outcomes and promote the safe and consistent use of cannabinoid-based medicines.

“This is an incredibly significant development for Avicanna as it validates our medical focus and credibility with the healthcare community. This first of its kind collaboration with a major Canadian medical institution substantiates the need and importance of a comprehensive cannabinoid-based medicine program that includes standardized, inhalation-free, and accurately dosed products that are supported by education and patient support programs. We look forward to the collaboration with the Sunnybrook Hospital team, improving on the learnings and pioneering the standard of care with cannabinoid-based medicine that could improve patient outcomes, quality of life and increase the medical community’s confidence in cannabinoid-based medicine,” stated Aras Azadian, CEO of Avicanna Inc.

“Patients have questions about and want access to plant-based cannabinoids, and that requires healthcare professionals to become knowledgeable about the use of cannabinoids for medical purposes,” said Carlo DeAngelis, pharmacist and researcher at Sunnybrook Hospital’s Odette Cancer Centre. “Our primary goal is patient safety. This collaboration will help us ensure patients have access to plant-based cannabinoid products of high quality as well as provide education focused on dosing, monitoring of symptoms and effects on concurrent anti-cancer treatments.”

The RHO Phyto products will be supplied to Sunnybrook Hospital through Avicanna’s exclusive medical partnership with Medical Cannabis by ShoppersTM online platform who will be distributing the RHO Phyto products and supporting Avicanna’s education and training programs.

About RHO Phyto

RHO Phyto is Avicanna’s unique formulary of products that are backed by scientific rigour and an evidence-based approach to meet the quality and consistency standards that patients and the medical community should expect of medical cannabis products. The RHO Phyto product line consists of oral, sublingual, and topical delivery systems offered in a range of CBD only and CBD-THC ratios. All RHO Phyto formulations are designed to maintain the stability of the cannabinoids, and provide accurate dosing. Through pre-clinical studies, these formulations have been optimized for increased and faster absorption of cannabinoids relative to formulations available in the marketplace.

About Sunnybrook Health Sciences Centre

Sunnybrook Health Sciences Centre is inventing the future of health care for the 1.2 million patients the hospital cares for each year through the dedication of its more than 10,000 staff and volunteers. An internationally recognized leader in research and education and a full affiliation with the University of Toronto distinguishes Sunnybrook as one of Canada’s premier academic health sciences centres. Sunnybrook specializes in caring for high-risk pregnancies, critically-ill newborns and adults, offering specialized rehabilitation and treating and preventing cancer, cardiovascular disease, neurological and psychiatric disorders, orthopaedic and arthritic conditions and traumatic injuries. The Hospital also has a unique and national leading program for the care of Canada’s war veterans.

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:

  • Pura Earth™ or 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™. 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 studies on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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

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 the Company to establish a complete cannabis consultation and dosing regimen, the ability of the Company and Sunnybrook to establish a gold standard of care for cannabinoid-based medicine by providing support and educating and training physicians, pharmacists and patients on the formulary of the RHO Phyto products,  the likelihood that the Company’s and Sunnybrook’s education initiative will allow for a personalized medicine approach to track patient outcomes and promote the safe and consistent use of cannabinoid-based medicines, the ability of Sunnybrook to purchase the RHO Phyto products from Medical Cannabis by ShoppersTM. 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 Provides Bi-Weekly Update On Status Of Management Cease Trade Order

Avicanna Provides Bi-Weekly Update On Status Of Management Cease Trade Order

/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, April 26, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) is providing this bi-weekly update on the status of the management cease trade order granted on April 12, 2021 (the “MCTO”) by its principal regulator, the Ontario Securities Commission under National Policy 12-203 – Management Cease ‎Trade Orders (“NP 12-203”), following the Company’s announcement on March 29, 2021 (the “Default Announcement”) that it was unable to file its 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”) on or before March 31, 2021, as required under applicable securities laws. The MCTO does ‎not affect the ability of investors who are not insiders to trade in the securities of the Company.‎

The Company also announces that it no longer expects to be in a position to file the Documents by April 30, 2021, as previously announced. While the Company’s annual audit is ongoing, due to the Company’s auditors requiring additional time to complete their audit, the Company now expects to file the Documents on or before May 31, 2021. The Company continues to work closely with its auditor to remedy the default status and file the Document as soon as possible.

The Company confirms that since the date of the Default Announcement: (i) except as set out above with respect to the anticipated fling date of the Documents, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press ‎release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; ‎and (v) there is no material information concerning the affairs of the Company that has not been generally ‎disclosed.

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:

Pura EarthTM or Pura H&WTM: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
RHO PhytoTM: 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 ShoppersTM, 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 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.
With ongoing clinical trials on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as 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 timing for the filing of the Documents. 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.