Mr. Aras Azadian reports

AVICANNA PROVIDES UPDATE ON THE SUCCESSFUL LAUNCH OF MYMEDI.CA

Avicanna Inc. has provided an update on the progress of its new cannabis care platform MyMedi.ca since its successful launch nationwide in Canada on Aug. 1, 2023.

"We are thrilled with the launch of our new medical cannabis care platform which allowed us to successfully transition the patients from Medical Cannabis by Shoppers. In a short period of time, MyMedi.ca has been established as a comprehensive medical cannabis platform with a robust patient support program backed by privacy standards that meet the highest requirements by insurers for insurance coverage for patients" said Aras Azadian, chief executive officer. Azadian further stated, "Our ongoing commitment to patients and dedication to improving the patient journey remains our core focus and we will continue to work toward raising standards so Canadians may look towards having a patient-first medical cannabis care platform."

The Company update on the progress of its new medical cannabis care platform, MyMedi.ca, includes:

• Transition of over 96 per cent of active patients from Medical Cannabis by Shoppers to MyMedi.ca and an increase of approximately 10 per cent of net new medical patients since launch.
• Developed infrastructure to offer insurance reimbursement services for patients through several private insurance providers and public institutions including six provincial worker safety boards.
• Offer ongoing specialty care services for distinct patient groups and the opportunity to serve thousands of our Canada's veterans with a dedicated program including robust adjudication services.
• An established network of over 50 specialized clinics and medical institutions representing more than 1,500 healthcare providers.
• Offer training, medical education, products and services, and resources to facilitate the incorporation of medical cannabis into health care regimens including the Company's own Avicenna Academy and the Canadian Consortium for the Investigation of Cannabinoid Syllabus.
• An opening portfolio of 200 products across 35 brands, expanding to 45 brands with more than 200 SKUs supplied by 15 Canadian licensed producers.
• Since launch, an increase in the Company's SKUs resulting in a proportional increase of 40 per cent in sales realized through improved access, and inventory management efficiencies.
• Facilitation of transfer and advancement of the Company's previously announced real world evidence clinical studies, including the epidermolysis bullosa study in collaboration with the Hospital for Sick Children and musculoskeletal pain and inflammation study with Sante Cannabis, to MyMedi.ca
• Enhanced operational efficiencies in reducing response time and expanding pharmacist-led, bilingual patient care services.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments and delivering a comprehensive medical cannabis care platform in Canada. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products (RHO Phyto(TM))

The formulary offers a diverse range of proprietary formulations including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids and is supported with ongoing patient, and medical community education. RHO Phyto has been established as a leading medical brand in Canada and is currently available nationwide to patients across several medical channels and continues to expand into new international markets.

Pharmaceutical Preparations and Pipeline

Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed an extensive a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna's first pharmaceutical preparation (Trunerox(TM)) is in the drug registration stage in South America.

MyMedi.ca Medical Cannabis Care

MyMedi.ca is Avicanna's medical cannabis care platform that is formed with the aim to better serve medical cannabis patients' needs and enhance the patient journey. MyMedi.ca features diverse and scientifically curated products from leading Canadian licensed producers in addition to pharmacist-led and bilingual patient support programs with educational resources to facilitate the incorporation of medical cannabis into health care regimens. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private providers for adjudication and reimbursement.

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