Mr. Aras Azadian reports

AVICANNA OBTAINS ITS FIRST INDICATION-SPECIFIC DRUG REGISTRATION WITH TRUNEROX(TM)

Avicanna Inc. has received its first indication-specific drug registration for Trunerox issued by INVIMA, the health authority of Colombia.

"The approval of our first pharmaceutical product is an exceptionally significant milestone and a major step towards our long-term vision as a biopharmaceutical company with the aim to serve patients with unmet medical needs. It is also rewarding to be able to deliver this medication for such a critical medical condition at an accessible price through our vertical," stated Aras Azadian, chief executive officer.

The Trunerox drug approval (Registro Sanitario como medicamento) was issued by INVIMA, after a detailed process of verification of all legal, technical and pharmacological requirements were fulfilled in accordance with Decree 677 of 1995 and other applicable regulations. The approval allows Avicanna to manufacture and commercialize Trunerox in Colombia with approved indications and claims associated to the treatment for seizures related to Lennox-Gastaut syndrome (LGS) and Dravet syndrome (DS). LGS and DS are two of the various, rare epileptic disorders classified as epileptic encephalopathies.

Trunerox is Avicanna's proprietary oral formulation with 10 per cent cannabidiol (CBD) and is manufactured with good manufacturing practices (GMP) at Altea Farmaceutica in Bogota, Colombia, utilizing CBD manufactured at Avicanna's majority-owned subsidiary Santa Marta Golden Hemp SAS.

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 research and development and clinical development that has led to the commercialization of more than 30 products across various market segments.

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