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Avicanna Inc
Symbol AVCN
Shares Issued 41,271,574
Close 2021-09-30 C$ 0.86
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Avicanna ships cannabis seeds to Peru, Argentina

2021-10-01 09:42 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA COMPLETES FIRST COMMERCIAL EXPORT OF FEMINIZED CANNABIS SEEDS FROM COLOMBIA TO PERU AND ARGENTINA

Avicanna Inc., through its majority-owned Colombian subsidiary Santa Marta Golden Hemp SAS (SMGH), has completed its first commercial exports of its proprietary genetics in the form of feminized cannabis seeds to Peru and Argentina.

The characterization, evaluation and production of these seeds were all completed through Avicanna's vertical integration at SMGH over the past three years and validate the company's leadership in the breeding and stabilization of cannabis strains in South America. The seeds are a part of Avicanna's supply chain business unit branded as Aureus, which also includes within its portfolio feminized seeds, full-spectrum extracts, distillates, isolated cannabinoids (CBD (cannabidiol), THC (tetrahydrocannabinol), CBG (cannabigerol) and other rare cannabinoids) and bulk formulations.

Peruvian legislation allows for the importation, distribution and sale of cannabis, its seeds, its extracts and derived products, for medical and scientific research purposes. Current Argentinian legislation allows for the importation, distribution and sale of cannabis, its seeds, its extracts and derived products, for medical and scientific research purposes related to the treatment of patients with refractory epilepsy under the exception access regime. Argentinian legislation also allows for certain government agencies to cultivate cannabis in collaboration with provincial agencies which Avicanna is currently supplying with its genetics.

Lucas Nosiglia, president of Avicanna LATAM (Latin America), commented: "After several years of R&D developing our breeding program, we have established a world-renown genetics platform and established a regulatory pathway for the export of our genetics into what is now four countries. We are thrilled that our pioneering efforts have enabled us to supply and support our Argentine and Peruvian partners with their long-term medicinal cannabis cultivation programs. With this program we are delivering federally registered genetics that are optimized and standardized for industrial agronomic performance in both greenhouse and outdoor cultivation models."

To the knowledge of the company, it 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 Canadian biopharmaceutical company and an established leader in cannabinoid research, development and evidence-based products for the global consumer, medical and pharmaceutical market segments. Avicanna conducts its research in Canada, including its research and development headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform, including advanced R&D and clinical development which has led to the commercialization of over 20 products across four main market segments:

  • RHO Phyto: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by preclinical data. These products are developed using pharmaceutical drug development processes and are supported with preclinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus: as a part of Avicanna's vertical integration based out of Santa Marta, Colombia, its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner's food, cosmetic, medical and pharmaceutical needs. 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, organically and sustainably, and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. The company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in four continents.
  • Pharmaceutical pipeline: leveraging from the company's scientific platform, vertical integration and real-world evidence, Avicanna has established a pipeline of indication-specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna's drug candidates are in the preclinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

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