Mr. Aras Azadian reports

AVICANNA AND EASE LABS PHARMA GRANTED COMMERCIALIZATION APPROVAL FOR PHARMACEUTICAL PREPARATION IN BRAZIL

ANVISA has granted commercialization approval of Ease Labs Pharma's pharmaceutical preparation product produced in Brazil containing Avicanna Inc.'s Aureus-branded active pharmaceutical ingredient (API).

Ease Labs, a GMP-certified (good manufacturing practice) pharmaceutical company in Brazil, was granted approval from ANVISA to commercialize a pharmaceutical preparation product containing 2.5 per cent CBD (cannabidiol) and up to 0.2 per cent THC (tetrahydrocannabinol). This is the first product containing THC granted sanitary authorization under the RDC 327 and GMP-certified manufacturing standards in Brazil. Ease Labs expects the product to be available in pharmacies with a medical prescription by March, 2024.

"This is the first full-spectrum product containing THC manufactured in Brazil approved by ANVISA under the RDC 327 regulations, which we believe will provide new treatment options to patients with different diseases. We are confident that the combination of local infrastructure and agreement with Avicanna will allow us to deliver these products into the market at a rapid rate and at accessible pricing for the patients," explained Gustavo Palhares, chief executive officer and co-founder of Ease Labs.

The full-spectrum API is supplied by Avicanna's majority-owned subsidiary Santa Marta Golden Hemp SAS, under a multiyear API supply agreement entered in 2021.

"We are appreciative of the confidence and trust Ease Labs placed in us and the work done these past years, which resulted in the achievement of this incredible milestone. We are happy to see the new treatment options will be made available to patients with greater accessibility and look forward to the continued relationship," stated Aras Azadian, chief executive officer of Avicanna.

About Aureus

Avicanna's supply chain business unit is based in Santa Marta, Colombia, and provides a consistent source of cannabinoid raw materials for the global marketplace with GACP (good agricultural and collection practices) and USDA (U.S. Department of Agriculture) organic certifications. These include active pharmaceutical ingredients and feminized seeds for Avicanna's cosmetic, medical and pharmaceutical products, in addition to supplying the company's partners around the world. Aureus-branded products are cultivated, extracted and manufactured by Avicanna's subsidiaries in Colombia, where they leverage 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 (cannabigerol).

To its knowledge, the company carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

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. Avicanna has an established scientific platform, including R&D (research and development) and clinical development, that has led to the commercialization of more than 30 products across various market segments:

• Pharmaceutical preparations and pipeline: Leveraging Avicanna's scientific platform, vertical integration and real-world evidence, Avicanna has developed an extensive 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) is in the drug registration stage in South America.
• MyMedi.ca medical cannabis care: MyMedi.ca is Avicanna's medical cannabis care platform formed with the aim to better serve medical cannabis patient needs and enhance the patient journey. MyMedi.ca features diverse and scientifically curated products from leading Canadian licensed producers in addition to pharmacist-led patient support programs and 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.
• Medical cannabis and wellness products (Rho Phyto): 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 continuing patient and medical community education. Rho Phyto has been established as a leading medical brand in Canada; is currently available nationwide to patients across several medical channels; and continues to expand into new international markets.

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