Avicanna Inc. ("
Avicanna" or the
"
Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a
biopharmaceutical company focused on the development, manufacturing
and commercialization of plant-derived cannabinoid-based products,
is pleased to announce that, through its majority-owned Colombian
subsidiary Santa Marta Golden Hemp S.A.S.
(“
SMGH”), it has completed its first commercial
export of 20 kg of high CBD full spectrum psychoactive cannabis
extracts (the “
Cannabis Extracts”) to Brazil in
connection with the previously announced three (3) year master
supply agreement that SMGH executed with a leading Brazilian
pharmaceutical in July, 2021.
This marks the 11th country to which Avicanna
has successfully completed export of Aureus-branded products in
what stands as a demonstration of the Company’s capabilities,
innovation, and regulatory expertise. This export also validates
the emergence of the global cannabinoid sector with reliance on
quality, traceability and sustainability that Avicanna’s Aureus
products offer.
With a forecasted total market size of
approximately USD $9 billion by 20251, Brazil is expected to be one
of the biggest cannabis markets globally and the largest in Latin
America, particularly for medicinal cannabis products. The
Cannabis Extracts will be used in the production of several
products which will be registered and commercialized in Brazil
through RDC 327/19 that regulates manufacturing, registration,
importation and dispensing of cannabis-derived products.
Lucas Nosiglia, President of Avicanna LATAM,
commented: “This export represents a key milestone for our team and
a validation of our capabilities as we continue to lead the way
with our products and have now entered our 11th country with the
Aureus brand. The export to Brazil also confirms the regulatory
pathway and acts as a proof of concept in the largest market in
South America where we aim to establish long-lasting supply
relationships with our Brazilian pharmaceutical partners.”To the
knowledge of the Company, it carries out its operations in
compliance with all applicable laws in the jurisdictions in which
it operates.
1 Source: Passport, Euromonitor International,
Cannabis in Latin America, July 2021
About Aureus™
Avicanna’s supply chain business units are based
out of Santa Marta, Colombia and are primarily dedicated to
providing consistent source of cannabinoid raw materials for
Avicanna’s current commercial products and pharmaceutical pipeline
for the global marketplace.
Additionally, under the Aureus™ brand,
standardized cannabis extracts and feminized seeds are made
available to cultivation, cosmetic and pharmaceutical partners
around the world. Aureus branded products are cultivated,
extracted, and manufactured by Avicanna’s subsidiaries in Colombia
where they benefit from optimal environmental conditions to produce
cannabinoid active pharmaceutical ingredients economically and
sustainably and include a range of extracts of CBD, THC and rare
cannabinoids such as CBG. Avicanna’s supply chain business also
benefits from federally regulated legislation in Colombia where the
Company is well positioned to be a global supplier of the less
competitive psychoactive extracts including CBD and THC crude oil
to meet the growing global demand.
About Avicanna
Avicanna is a diversified and vertically
integrated Canadian biopharmaceutical company focused on the
research, development and commercialization of plant-derived
cannabinoid-based products for the global consumer, medical, and
pharmaceutical market segments.
Avicanna is an established leader in cannabinoid
research and development, which it primarily conducts at its
R&D headquarters in the Johnson & Johnson Innovation
Centre, JLABS @ Toronto, Canada and in collaboration with leading
Canadian academic and medical institutions. In addition to its
developing pharmaceutical pipeline, Avicanna’s team of experts have
developed and commercialized several industry leading product
lines, including:
- RHO Phyto™: an advanced line of
medical cannabis products containing varying ratios of CBD and THC
currently available nationwide across Canada in medical channels in
partnership with Medical Cannabis by Shoppers™, a subsidiary of
Shoppers Drug Mart, and in adult use channels through provincial
retailers. RHO Phyto is the first medical formulary of advanced
“Cannabis 2.0” products, containing oils, sprays, capsules, creams,
and gels, all developed with scientific rigour, manufactured under
GMP standards and supported by pre-clinical data; and,
- Pura H&W™: an advanced and
clinically tested line of functional CBD consumer derma-cosmetic
products currently available nationwide across Canada in medical
channels in partnership with Medical Cannabis by Shoppers™, a
subsidiary of Shoppers Drug Mart, in adult use channels through
provincial retailers in Canada and nation-wide across
Colombia.
With ongoing clinical studies on its
derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a
pipeline of pharmaceutical products, Avicanna’s dedication to
researching the important role that cannabinoids play in an
increasingly wider scope of products has been at the core of the
Company’s vision since its inception. Furthermore, Avicanna’s
commitment to education is demonstrated through its annual medical
symposium, the Avicanna Academy educational platform, and the My
Cannabis Clinic patient program through its subsidiary company.
Avicanna manages its own supply chain including
cultivation and extraction through its two majority-owned
subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp
S.A.S., both located in Santa Marta, Colombia. Through these
sustainable, economical, and industrial scale subsidiaries,
Avicanna cultivates, processes, and commercializes a range of
cannabis and hemp cultivars dominant in CBD, CBG, THC, and other
cannabinoids for use as active pharmaceutical ingredients.
Avicanna’s Avesta Genetica program specializes in the development
and optimization of rare cultivars for commercial production along
with feminized seeds for global export. In June 2020, Avicanna made
history with a shipment of hemp seeds to the United States of
America by completing the first ever export of hemp seeds from
Colombia.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, call 1-647-243-5283, or contact Iryna Zheliasko
by email at iryna@chfir.com.
The company posts updates through videos from
the official company YouTube
channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information contained in this press release may be
identified by the use of words such as, "may", "would", "could",
"will", "likely", "expect", "anticipate", "believe, "intend",
"plan", "forecast", "project", "estimate", "outlook" and other
similar expressions, and includes statements with respect to the
ability of SMGH to complete additional exports of Cannabis Extracts
to Brazil, the ability of SMGH to continue to cultivate, extract,
and manufacture the Cannabis Extracts and the ability of SMGH to
supply pharmaceutical and cosmetic companies with cannabinoids
(including rare cannabinoids) in addition to supplying global
cultivation companies with standardized and feminized seeds.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management in light of management's experience and perception of
trends, current conditions and expected developments, as well as
other factors relevant in the circumstances, including assumptions
in respect of current and future market conditions, the current and
future regulatory environment; and the availability of licenses,
approvals and permits.
Although the Company believes that the
expectations and assumptions on which such forward-looking
information is based are reasonable, undue reliance should not be
placed on the forward-looking information because the Company can
give no assurance that they will prove to be correct. Actual
results and developments may differ materially from those
contemplated by these statements. Forward-looking information is
subject to a variety of risks and uncertainties that could cause
actual events or results to differ materially from those projected
in the forward-looking information. Such risks and uncertainties
include, but are not limited to current and future market
conditions, including the market price of the common shares of the
Company, and the risk factors set out in the Company's annual
information form dated April 15, 2020, and final short form
prospectus dated November 27, 2020, filed with the Canadian
securities regulators and available under the Company's profile on
SEDAR at www.sedar.com.
The statements in this press release are made as
of the date of this release. The Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise,
other than as required by applicable securities laws.
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