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Avicanna Inc
Symbol AVCN
Shares Issued 45,858,596
Close 2021-11-24 C$ 0.70
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Avicanna ships first Rho medical pot to Barbados

2021-11-25 09:23 ET - News Release

Mr. Aras Azadian reports

AVICANNA EXPANDS ITS MEDICAL CANNABIS BRAND RHO PHYTO INTO THE CARIBBEAN REGION WITH INITIAL EXPORT TO BARBADOS

Avicanna Inc. has successfully expanded its Rho Phyto branded medical cannabis products into the Caribbean region with successful initial export to its distribution partner, Bryden Stokes Ltd., in Barbados.

Avicanna has entered into a distribution partnership with Bryden Stokes, an established health and pharmaceutical product distributor in the Caribbean region to distribute its medical formulary Rho Phyto line of products beginning with three product SKUs (stock-keeping units). This marks the third country in which Rho Phyto's medical formulary will be available and the 13th international market that Avicanna's portfolio of products have successfully been exported to.

The company plans to deliver the Rho Phyto products to the medical community and patients in the Caribbean through Bryden Stokes' extensive network and sales infrastructure in the region starting with Barbados. In addition to the advanced and evidence-based products, Avicanna will extend its comprehensive educational platform including patient support, marketing and training.

The initial delivery, which included oral and sublingual products, has successfully been exported from Canada through Avicanna's strategic partnership with Medipharm Labs, a leading pharmaceutical cannabis manufacturer. In Barbados, specifically, the products will be commercialized under the Medicinal Cannabis Industry Act 2019-44 which outlines regulation of the handling of medicinal cannabis on the island. Avicanna plans to expand its product offerings to the region to include additional SKUs from its Canadian portfolio as well as pharmaceutical preparations from its formulary in Colombia.

"We're excited to expand our Rho Phyto formulary of products into Barbados with our partner Bryden Stokes, who shares our vision and focus on supplying the medical community and patients with scientifically advanced and evidence-based cannabis products. We look forward to establishing Rho Phyto as the gold standard throughout the region and aim to build long-term opportunities for the brand," said Aras Azadian, chief executive officer.

Bryden Stokes is delighted to commence a partnership with Avicanna to provide pharmaceutical-grade medicinal cannabis to patients in Barbados and the Eastern Caribbean; specifically, the Rho Phyto brand of products. Avicanna's evidence-based approach to its formulations, and its collaborations with leading academic and clinical institutions, make them an ideal partner.

About Bryden Stokes Ltd.

Bryden Stokes has three distinct business divisions: food and consumer; brewery, wine, spirits and tobacco; and health and wellness. Its wide network of international suppliers and thriving portfolio make it one of the leading distribution companies in Barbados. To support these divisions, they have over 330 employees and a portfolio of 450 quality brands.

About Rho Phyto

The advanced and standardized formulations are offered in various doses of cannabidiol (CBD), tetrahydrocannabinol (THC) and THC-free options in a range of drug delivery formats including oral, sublingual, transdermal and local, and designed to provide consumers with a range of inhalation-free cannabinoid-based solutions. The proprietary formulations are developed and optimized by Avicanna to provide enhanced absorption while providing a consistent experience with a pleasant taste and smell. The Rho Phyto products are delivered with accurate dosing which also allows for easy titration and dosing by consumers.

Avicanna's Rho Phyto vision is to provide education and safe delivery of its products through evidence-based training and education to consumers, retailers and the medical community. Avicanna aims to establish Rho Phyto as a recommended brand within the cannabis industry and has initiated several preclinical and real-world evidence clinical trials on the products with leading Canadian medical institutions.

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 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 @ 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 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. 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 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 successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, 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. The majority of the Aureus products are produced at Santa Marta Golden Hemp SAS, the company's majority-owned subsidiary, which is also good agricultural and collection practices certified and has United States Department of Agriculture National Organic Program certification for its hemp cultivar.

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