Ms. Ivana Maric reports

AVICANNA ANNOUNCES THE CANADIAN LAUNCH OF 10% CBD (THC FREE) PROPRIETARY FORMULATION

Avicanna Inc. has launched Rho Phyto Micro Drop 100, a 10-per-cent cannabidiol (tetrahydrocannabinol-free), proprietary oral formulation, in Canada. Rho Phyto Micro Drop 100 is designed to deliver enhanced absorption of cannabinoids through an inverted emulsion technology. Rho Phyto Micro Drop 100 will be available to Canadian patients with medical authorization exclusively at the MyMedi.ca medical cannabis care platform.

Rho Phyto Micro Drop 100 contains the same proprietary oral formulation as the product Trunerox. Trunerox received drug approval in Colombia, earlier this year in February, 2024, from the Colombian National Institute of Drug and Food Surveillance (El Instituto Nacional de Vigilancia de Medicamentos y Alimentos -- INVIMA). Trunerox is approved by INVIMA in Colombia as a drug for the treatment for severe seizures related to Lennox-Gastaut syndrome and Dravet syndrome. Trunerox has not been approved as a drug in Canada by Health Canada.

The company continues to support the advancement of research and development of plant-derived cannabinoid-based products and continues to support the advancement of various scientific-medical initiatives. The company will be hosting its fourth medical symposium on cannabinoid-based medicine in the Canadian health care system on May 13, 2024, for health care practitioners, scientists, researchers and the medical community.

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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