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Avicanna Inc
Symbol AVCN
Shares Issued 41,271,574
Close 2021-06-11 C$ 1.08
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Avicanna ships first cannabis extracts to Brazil

2021-08-27 09:48 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA COMPLETES FIRST COMMERCIAL EXPORT OF AUREUS BRANDED FULL SPECTRUM PSYCHOACTIVE CBD CANNABIS EXTRACTS TO BRAZIL

Avicanna Inc., through its majority-owned Colombian subsidiary Santa Marta Golden Hemp SAS (SMGH), has completed its first commercial export of 20 kilograms of high-CBD (cannabidiol) full-spectrum psychoactive cannabis extracts to Brazil in connection with the previously announced three-year master supply agreement that SMGH executed with a leading Brazilian pharmaceutical in July, 2021.

This marks the 11th country to which Avicanna has successfully completed export of Aureus-branded products in what stands as a demonstration of the company's capabilities, innovation and regulatory expertise. This export also validates the emergence of the global cannabinoid sector with reliance on quality, traceability and sustainability that Avicanna's Aureus products offer.

With a forecasted total market size of approximately $9-billion (U.S.) by 2025, Brazil is expected to be one of the biggest cannabis markets globally and the largest in Latin America, particularly for medicinal cannabis products. The cannabis extracts will be used in the production of several products which will be registered and commercialized in Brazil through RDC 327/19 that regulates manufacturing, registration, importation and dispensing of cannabis-derived products.

Lucas Nosiglia, president of Avicanna LATAM, commented: "This export represents a key milestone for our team and a validation of our capabilities as we continue to lead the way with our products and have now entered our 11th country with the Aureus brand. The export to Brazil also confirms the regulatory pathway and acts as a proof of concept in the largest market in South America, where we aim to establish long-lasting supply relationships with our Brazilian pharmaceutical partners."

About Aureus

Avicanna's supply chain business units are based out of Santa Marta, Colombia, and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna's current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus brand, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus branded products are cultivated, extracted and manufactured by Avicanna's subsidiaries in Colombia, where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD (cannabidiol), THC (tetrahydrocannabinol) and rare cannabinoids such as CBG (cannabigerol). Avicanna's supply chain business also benefits from federally regulated legislation in Colombia where the company is well positioned to be a global supplier of the less competitive psychoactive extracts, including CBD and THC crude oil, to meet the growing global demand.

About Avicanna Inc.

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its research and development headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna's team of experts has developed and commercialized several industry leading product lines, including:

  • Pura H&W: an advanced and clinically tested line of CBD consumer derma-cosmetic products;
  • RHO Phyto: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nationwide across Canada in partnership with Medical Cannabis by Shoppers, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced cannabis 2.0 products, containing oils, sprays, capsules, creams and gels, all developed with scientific rigour, manufactured under GMP (good manufacturing practices) standards and supported by preclinical data.

With continuing clinical studies on its derma-cosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna's dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the company's vision since its inception. Furthermore, Avicanna's commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa SAS and Santa Marta Golden Hemp SAS, both located in Santa Marta, Colombia. Through these sustainable, economical and industrial-scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC and other cannabinoids for use as active pharmaceutical ingredients. Avicanna's Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June, 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

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