Avicanna Inc. ("
Avicanna" or the
"
Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a
biopharmaceutical company focused on the development, manufacturing
and commercialization of plant-derived cannabinoid-based products
is pleased to announce that, through its majority-owned Colombian
subsidiary, Santa Marta Golden Hemp S.A.S.
(“
SMGH”), it has completed its first commercial
export into Peru of high concentration THC, full spectrum
psychoactive cannabis crude oil, marketed under Avicanna’s Aureus™
brand, to Peru.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8466581-fc2e-4422-a4a4-12b48614831f
Lucas Nosiglia, President of Avicanna LATAM
S.A.S., commented: “We are pleased to enter the growing Peruvian
market and integrate Peru into our rapidly advancing supply chain
and commercial platform. We see Peru’s legislation and business
opportunities related to cannabinoids-based API, cosmetics, medical
and pharmaceutical products progressing rapidly, and we believe
that we are in a great position to reinforce our leadership
position in the region and establish long term relationships.”
To the knowledge of the Company, it carries out
its operations in compliance with all applicable laws in the
jurisdictions in which it operates.
About Aureus™
Avicanna’s supply chain business units are based
out of Santa Marta, Colombia and are primarily dedicated to
providing consistent source of cannabinoid raw materials for
Avicanna’s current commercial products and pharmaceutical pipeline
for the global marketplace.
Additionally, under the Aureus™ brand,
standardized cannabis extracts and feminized seeds are made
available to cultivation, cosmetic and pharmaceutical partners
around the world. Aureus branded products are cultivated,
extracted, and manufactured by Avicanna’s subsidiaries in Colombia
where they benefit from optimal environmental conditions to produce
cannabinoid active pharmaceutical ingredients economically and
sustainably and include a range of extracts of CBD, THC and rare
cannabinoids such as CBG. Avicanna’s supply chain business also
benefits from federally regulated legislation in Colombia where the
company is well positioned to be a global supplier of the less
competitive psychoactive extracts including CBD and THC crude oil
to meet the growing global demand.
About Avicanna
Avicanna is a diversified and vertically
integrated Canadian biopharmaceutical company focused on the
research, development and commercialization of plant-derived
cannabinoid-based products for the global consumer, medical, and
pharmaceutical market segments.
Avicanna is an established leader in cannabinoid
research and development, which it primarily conducts at its
R&D headquarters in the Johnson & Johnson Innovation
Centre, JLABS @ Toronto, Canada and in collaboration with leading
Canadian academic and medical institutions. In addition to its
developing pharmaceutical pipeline, Avicanna’s team of experts have
developed and commercialized several industry leading product
lines, including:
- RHO Phyto™: an advanced line of
medical cannabis products containing varying ratios of CBD and THC
currently available nationwide across Canada in medical channels in
partnership with Medical Cannabis by Shoppers™, a subsidiary of
Shoppers Drug Mart, and in adult use channels through provincial
retailers. RHO Phyto is the first medical formulary of advanced
“Cannabis 2.0” products, containing oils, sprays, capsules, creams,
and gels, all developed with scientific rigour, manufactured under
GMP standards and supported by pre-clinical data; and,
- Pura H&W™: an advanced and
clinically tested line of functional CBD consumer derma-cosmetic
products currently available nationwide across Canada in medical
channels in partnership with Medical Cannabis by Shoppers™, a
subsidiary of Shoppers Drug Mart, in adult use channels through
provincial retailers in Canada and nation-wide across
Colombia.
With ongoing clinical studies on its
derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a
pipeline of pharmaceutical products, Avicanna’s dedication to
researching the important role that cannabinoids play in an
increasingly wider scope of products has been at the core of the
Company’s vision since its inception. Furthermore, Avicanna’s
commitment to education is demonstrated through its annual medical
symposium, the Avicanna Academy educational platform, and the My
Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including
cultivation and extraction through its two majority-owned
subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp
S.A.S., both located in Santa Marta, Colombia. Through these
sustainable, economical, and industrial scale subsidiaries,
Avicanna cultivates, processes, and commercializes a range of
cannabis and hemp cultivars dominant in CBD, CBG, THC, and other
cannabinoids for use as active pharmaceutical ingredients.
Avicanna’s Avesta Genetica program specializes in the development
and optimization of rare cultivars for commercial production along
with feminized seeds for global export. In June 2020, Avicanna made
history with a shipment of hemp seeds to the United States of
America by completing the first ever export of hemp seeds from
Colombia.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit,
President by email at info@avicanna.com.
The company posts updates through videos from
the official company YouTube
channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information contained in this press release may be
identified by the use of words such as, "may", "would", "could",
"will", "likely", "expect", "anticipate", "believe, "intend",
"plan", "forecast", "project", "estimate", "outlook" and other
similar expressions, and includes statements with respect to the
ability of SMGH to complete additional exports of cannabis extracts
to Peru and the ability of SMGH to continue to cultivate, extract,
and manufacture the cannabis extracts. Forward-looking information
is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management in light of management's
experience and perception of trends, current conditions and
expected developments, as well as other factors relevant in the
circumstances, including assumptions in respect of current and
future market conditions, the current and future regulatory
environment; and the availability of licenses, approvals and
permits.
Although the Company believes that the
expectations and assumptions on which such forward-looking
information is based are reasonable, undue reliance should not be
placed on the forward-looking information because the Company can
give no assurance that they will prove to be correct. Actual
results and developments may differ materially from those
contemplated by these statements. Forward-looking information is
subject to a variety of risks and uncertainties that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Such risks and uncertainties
include, but are not limited to current and future market
conditions, including the market price of the common shares of the
Company, and the risk factors set out in the Company's annual
information form dated April 15, 2020, and final short form
prospectus dated November 27, 2020, filed with the Canadian
securities regulators and available under the Company's profile on
SEDAR at www.sedar.com.
The statements in this press release are made as
of the date of this release. The Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise,
other than as required by applicable securities laws.
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