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Avicanna Inc
Symbol AVCN
Shares Issued 45,858,596
Close 2021-11-11 C$ 0.75
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Avicanna director Zaclis resigns

2021-11-11 19:37 ET - News Release

Mr. Aras Azadian reports

AVICANNA ANNOUNCES RESIGNATION OF DIRECTOR

Flavio Jose Zaclis has resigned as a director of Avicanna Inc., effective immediately, for personal reasons.

Aras Azadian, chief executive officer, commented: "We wanted to express our gratitude to Flavio for stepping into the role at a critical time for the company and helping us pave the path for our next stage of growth and evolution. We look forward to having his continued support and guidance as an adviser to the company."

Mr. Zaclis commented: "I am very happy to have been able to support the management during a transitional period and impressed by what has been accomplished so far. I am very optimistic about the future and the evolution of the company and its business models. I will continue to support Avicanna during its next phase of growth especially in the Brazilian market, where they are establishing a strong footprint."

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.
  • Cannabidiol dermacosmetic 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.
  • Pharmaceuticals: 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 the 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 completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full-spectrum extracts and cannabinoid distillates, isolated cannabinoids (CBD, tetrahydrocannibinol, 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. The majority of the Aureus products is produced at Santa Marta Golden Hemp SAS (SMGH), the company's majority-owned subsidiary, which is also good agricultural and collection practices (GACP) certified and has U.S. Department of Agriculture (USDA) national organic program certification for its hemp cultivar.

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