Avicanna´s subsidiary obtains Good Agricultural and Collection Practices (“GACP”) Certification in Colombia
04 November 2021 - 12:30PM
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 met global
conformity standards of Good Agricultural and Collection Practices
(“GACP”), an international guide set forth by the European
Medicines Agency for starting materials of herbal origin for its
360,000 square foot cultivation project in Santa Marta, Colombia.
The certification will allow for the expansion of the Company’s raw
materials supply business to include organic and now GACP certified
dried flower and biomass at a global level.
The Aureus Santa Marta brand, which includes a
range of cannabinoids and standardized genetics offerings, has been
successfully exported into 11 countries and, with this recent
milestone, will include cannabis flower and biomass offerings to
the Company’s partners and global marketplace. The GACP
certification also acts as a pre-requisite for European GMP
extraction certification, which the Company intends to also attain
in 2022.
The strategic timing of the certification is
further supported by the recent progressive legislation in Colombia
towards the cannabis industry where, pursuant to Decree 811 of
2021, the export of cannabis flower and biomass is expected be
permitted.
The Company’s cultivation infrastructure in
Santa Marta, Colombia has potential output of 30,000 kg of biomass
per year where the company has been commercially cultivating CBD,
CBG and THC dominant cultivars for the past few years. This
certification completes the company’s objective of establishing a
low cost, sustainable and standardized supply chain business with
global standards including GACP and USDA National Organic Program
organic certifications.
Lucas Nosiglia, President of Avicanna LATAM
commented: “This achievement adds to our 3 years of optimization,
the ideal climate conditions and robust genetics of our cultivation
practices which combined further fortify the clear competitive
advantages of our global raw material business unit. Coupled with
the new regulatory framework in Colombia which would authorize the
export of flower; we will now deliver GACP and organic certified
flower from our greenhouse and outdoor modalities to the global
market.”
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 raw material business units are based
in 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, organic
and GACP-certified flower and biomass, 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 commercial stage Canadian
biopharmaceutical company and an established leader in cannabinoid
research, development, and evidence-based products for the global
consumer, medical, and pharmaceutical market segments. Avicanna
conducts its research in Canada including its R&D headquarters
in the Johnson & Johnson Innovation Centre, JLABS @ Toronto,
Canada, located in the MaRS Discovery District, and in
collaboration with leading Canadian academic and medical
institutions. Avicanna has established an industry leading
scientific platform including advanced R&D and clinical
development which has led to the commercialization of over twenty
products across four main market segments:
-
RHO Phyto™: these medical and wellness
products are an advanced line of pharmaceutical-grade cannabis
products containing varying ratios of CBD and THC. The product
portfolio contains a full formulary of products including oral,
sublingual, topical, and transdermal deliveries that have
controlled dosing, enhanced absorption and stability studies
supported by pre-clinical data. These products are developed using
pharmaceutical drug development processes and are supported with
pre-clinical data. The advanced formulary is marketed with
consumer, patient and medical community education and
training.
-
Pura H&W™: these registered, clinically
tested, cosmetic products include a portfolio of functional CBD
consumer derma-cosmetic and topical products.
-
Pharmaceutical pipeline: leveraging from the
company’s scientific platform, vertical integration, and real-world
evidence, Avicanna has established a pipeline of indication
specific cannabinoid-based drug candidates that are in various
stages of clinical development and commercialization. Avicanna’s
drug candidates are in pre-clinical stage and are dedicated to
providing solutions for unmet medical needs in the areas of
dermatology, chronic pain and various neurological disorders.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, call 1-647-243-5283, or contact Ivana Maric 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 SMGH’s ability to maintain its licenses to cultivate
cannabis, SMGH’s ability to maintain its certifications, SMGH’s
ability to supply any other company based on its current or newly
acquired certifications, or SMGH’s ability to acquire new
certifications or business partnerships. Forward-looking
information is not a guarantee of future performance and is based
upon a number of estimates and assumptions of management in light
of management's experience and perception of trends, current
conditions and expected developments, as well as other factors
relevant in the circumstances, including assumptions in respect of
current and future market conditions, the current and future
regulatory environment; and the availability of licenses, approvals
and permits. Although the Company believes that the expectations
and assumptions on which such forward looking information is based
are reasonable, undue reliance should not be placed on the forward
looking information because the Company can give no assurance that
they will prove to be correct. Actual results and developments may
differ materially from those contemplated by these statements.
Forward-looking information is subject to a variety of risks and
uncertainties that could cause actual events or results to differ
materially from those projected in the forward-looking information.
Such risks and uncertainties include, but are not limited to
current and future market conditions, including the market price of
the common shares of the Company, and the risk factors set out in
the Company's annual information form dated September 3, 2021 and
final short form prospectus dated November 27, 2020, filed with the
Canadian securities regulators and available under the Company's
profile on SEDAR at www.sedar.com. The statements in this press
release are made as of the date of this release. The Company
disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events
or results or otherwise, other than as required by applicable
securities laws.
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