Avicanna Executes Multi Year Agreement to Supply Brazilian

• Avicanna’s standardized CBD and THC Hashish Extracts are to be utilized to provide a variety of cannabis-derived merchandise for the Brazilian market of 211 million folks.
• Success of buy orders primarily based on preliminary forecasts for 2022 is predicted to generate roughly CAD$4 million in income for Avicanna.

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TORONTO, July 07, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Firm) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical firm centered on the event, manufacturing and commercialization of plant-derived cannabinoid-based merchandise is happy to announce that its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), has executed a 3 (3) yr grasp provide settlement with a number one Brazilian pharmaceutical firm to produce industrial volumes of excessive THC and excessive CBD full spectrum psychoactive hashish resin (the “Hashish Extracts”).

The Hashish Extracts will probably be used within the manufacturing of a number of merchandise which will probably be registered and commercialized in Brazil by means of RDC 327/19 that regulates manufacturing, registration, importation and shelling out of cannabis-derived merchandise.

Success of buy orders underneath the settlement is predicted to start in 2021 for pilot batches. Success of buy orders for industrial batches in 2022, primarily based on preliminary forecasts made by the Brazilian pharmaceutical firm pursuant to the settlement, is predicted to generate roughly CAD$4 million in income for Avicanna.

The Hashish Extracts are cultivated, extracted and manufactured by SMGH pursuant to US and European pharmacopeia requirements, the main requirements for the standard of merchandise that could be used as energetic pharmaceutical components (“API”). SMGH’s product choices embrace Hashish Extracts in addition to remoted CBD, THC, and CBG and standardized seeds, that are marketed underneath the Firm’s model, Aureus™.

Aras Azadian, CEO of Avicanna, commented: “This primary of its form partnership for Avicanna additional validates the corporate’s aggressive benefits and functionality of manufacturing sustainable, standardized and economical supply cannabinoid API for our personal product pipeline along with supplying our world pharmaceutical companions.”

To the information of the Firm, it carries out its operations in compliance with all relevant legal guidelines within the jurisdictions by which it operates.

About Avicanna

Avicanna is a diversified and vertically built-in Canadian biopharmaceutical firm centered on the analysis, growth and commercialization of plant-derived cannabinoid-based merchandise for the worldwide client, medical, and pharmaceutical market segments.

Avicanna is a longtime chief in cannabinoid analysis and growth, which it primarily conducts at its R&D headquarters within the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with main Canadian tutorial and medical establishments. Along with its growing pharmaceutical pipeline, Avicanna’s group of consultants have developed and commercialized a number of business main product traces, together with:

• Pura H&W™: a sophisticated and clinically examined line of CBD client derma-cosmetic merchandise; and,
• RHO Phyto™: a sophisticated line of medical hashish merchandise containing various ratios of CBD and THC at the moment obtainable nation-wide throughout Canada in partnership with Medical Hashish by Consumers™, a subsidiary of Consumers Drug Mart. RHO Phyto is the primary strictly medical formulary of superior “Hashish 2.0” merchandise, containing oils, sprays, capsules, lotions, and gels, all developed with scientific rigour, manufactured underneath GMP requirements and supported by pre-clinical information.

With ongoing medical trials on its derma-cosmetic (Pura H&W), medical hashish (RHO Phyto) and a pipeline of pharmaceutical merchandise, Avicanna’s dedication to researching the essential function that cannabinoids play in an more and more wider scope of merchandise has been on the core of the Firm’s imaginative and prescient since its inception. Moreover, Avicanna’s dedication to training is demonstrated by means of its annual medical symposium, the Avicanna Academy academic platform, and the My Hashish Clinic affected person program by means of its subsidiary firm.

Avicanna manages its personal provide chain together with cultivation and extraction by means of its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., each situated in Santa Marta, Colombia. By way of these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a variety of hashish and hemp cultivars dominant in CBD, CBG, THC, and different cannabinoids to be used as energetic pharmaceutical components. Avicanna’s Avesta Genetica program specializes within the growth and optimization of uncommon cultivars for industrial manufacturing together with feminized seeds for world export. In June 2020, Avicanna made historical past with a cargo of hemp seeds to the US of America by finishing the primary ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Keep Linked

For extra details about Avicanna, go to www.avicanna.com, name 1-647-243-5283, or contact Setu Purohit, President by e mail at data@avicanna.com.

The corporate posts updates by means of movies from the official firm YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please be a part of the dialog on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

Cautionary Be aware Relating to Ahead-Trying Data and Statements

This information launch comprises “forward-looking data” inside the which means of relevant securities legal guidelines. Ahead-looking data contained on this press launch could also be recognized by way of phrases comparable to, “might”, “would”, “may”, “will”, “seemingly”, “anticipate”, “anticipate”, “consider, “intend”, “plan”, “forecast”, “undertaking”, “estimate”, “outlook” and different related expressions, and contains statements with respect to the flexibility of SMGH to finish extra exports of Hashish Extracts to Brazil, the Brazilian pharmaceutical firm persevering with to buy the Hashish Extracts from SMGH, and the flexibility of SMGH to proceed to domesticate, extract, and manufacture the Hashish Extracts. Ahead-looking data is just not a assure of future efficiency and relies upon a lot of estimates and assumptions of administration in gentle of administration’s expertise and notion of traits, present situations and anticipated developments, in addition to different elements related within the circumstances, together with assumptions in respect of present and future market situations, the present and future regulatory surroundings; and the supply of licenses, approvals and permits.

Though the Firm believes that the expectations and assumptions on which such forward-looking data relies are cheap, undue reliance shouldn’t be positioned on the forward-looking data as a result of the Firm can provide no assurance that they’ll show to be appropriate. Precise outcomes and developments might differ materially from these contemplated by these statements. Ahead-looking data is topic to quite a lot of dangers and uncertainties that would trigger precise occasions or outcomes to vary materially from these projected within the forward-looking data. Such dangers and uncertainties embrace, however are usually not restricted to present and future market situations, together with the market value of the widespread shares of the Firm, and the chance elements set out within the Firm’s annual data type dated April 15, 2020, and remaining quick type prospectus dated November 27, 2020, filed with the Canadian securities regulators and obtainable underneath the Firm’s profile on SEDAR at www.sedar.com.

The statements on this press launch are made as of the date of this launch. The Firm disclaims any intent or obligation to replace any forward-looking data, whether or not because of new data, future occasions or outcomes or in any other case, apart from as required by relevant securities legal guidelines.