Ms. Ivana Maric reports
AVICANNA INC. TO HOST THIRD QUARTER 2021 INVESTOR CONFERENCE CALL ON NOVEMBER 12 AND ANNOUNCES WARRANT REPRICING
Avicanna Inc. has scheduled a conference call on Friday, Nov. 12, 2021, at 8:30 a.m. Eastern Time to discuss the results of its fiscal third quarter ended Sept. 30, 2021. Aras Azadian, chief executive officer, Dave Sohi, chief financial officer and Lucas Nosiglia, president of LATAM will host the call and a question-and-answer period. The company will report its Q3 2021 results before the open of markets on Friday, Nov. 12, 2021. The company further announces the finalization of the previously announced warrant amendment (as defined below).
Conference call details
Date: Nov. 12, 2021
Time: 8:30 a.m. Eastern Time
On Oct. 19, 2021, the company announced the proposed repricing of the exercise price, subject to the approval of the Toronto Stock Exchange, of 1,589,098 common share purchase warrants expiring Sept. 20, 2024, from $1.13 to $1.10 per share, which warrants were issued to, and are held by, the lender that advanced the secured term loan in the principal amount of $2,118,000 to the company in August, 2021. The warrant amendment was finalized and became effective as at the date hereof.
About Avicanna Inc.
Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its research and development headquarters in the Johnson & Johnson Innovation Centre, JLABS at Toronto, located in the MaRS discovery district. The company actively collaborates 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:
- Medical cannabis and wellness products: marketed under the RHO phyto brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of cannabidiol (CBD) and tetrahydrocannabinol (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. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna's medical and wellness product portfolio also forms the foundation of the company's pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real-world evidence studies;
- CBD derma-cosmetic products: marketed under the Pura H&W or Pura Earth brands, these registered, clinically tested, dermacosmetic products include a portfolio of functional CBD topical products;
- Pharmaceutical pipeline: leveraging Avicanna's scientific platform, vertical integration and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders. Avicanna's first pharmaceutical preparation (Trunerox) is in drug-registration-stage in South America;
Cannabis raw materials, seeds and bulk formulations: marketed under the Aureus brand, the company's raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts and cannabinoid distillates, and isolated cannabinoids (CBD, THC, cannabigerol (CBG) and other rare cannabinoids) and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical and industrial-scale subsidiaries based in Colombia. Majority of the Aureus products are produced at SMGH, the company's majority-owned subsidiary which is also Good Agricultural and Collection Practices (GACP) and USDA (United States Department of Agriculture) organic certified.
We seek Safe Harbor.
© 2022 Canjex Publishing Ltd. All rights reserved.