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Avicanna Inc
Symbol AVCN
Shares Issued 45,858,596
Close 2022-01-13 C$ 0.56
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Avicanna signs Latin American supply deal with Knop

2022-01-14 09:19 ET - News Release

Mr. Lucas Nosiglia reports

AVICANNA ENTERS MASTER SUPPLY AGREEMENT WITH CHILEAN PHARMACEUTICAL PIONEER KNOP LABORATORIOS S.A.

Avicanna Inc., through its majority-owned subsidiary Santa Marta Golden Hemp (SMGH), has entered into a master supply agreement with established Chilean pharmaceutical company Knop Laboratorios SA to supply a range of cannabinoid-based active pharmaceutical ingredients (API) for the manufacturing and commercialization of proprietary cannabinoid-based pharmaceutical products in Latin America.

Since 2018, Avicanna and Knop have developed a collaborative enterprise which has led to commercial imports of Avicannas API, including cannabidiol and tetrahydrocannabinol, which has been used in the development, production and commercialization of several cannabinoid-based products. Through this master supply agreement between SMGH and Knop, the two companies are further fortifying their commitments to a fruitful partnership and preparing for industrialization of Knop's cannabinoid-based pharmaceuticals manufactured using Avicanna's organic, sustainable inputs.

About Knop Laboratorios SA

Knop Laboratorios SA is a Chilean pharmaceutical company and pioneer in herbal medicine, with more than 90 years of experience in the field and active presence in several Latin American countries, including Chile, Ecuador, Colombia, Bolivia, Paraguay and Peru. With a GMP (good manufacturing practice) certified plant located in Quilpue, Chile, Knop Laboratorios serves its markets with high-quality pharmaceutical products. Knop has a wide portfolio of registered products, including Cannabiol, a cannabinoid-based product already registered in Peru, and its own commercial infrastructure including strategic partnerships with 80-plus Knop Pharmacies in Chile. In 2021, Knop opened the first research and development centre in Chile for phytomedicines and active ingredients of natural origin.

Knop is carrying out various clinical studies for their cannabinoid-based products, with authorization from the appropriate health authorities.

"We are happy to announce the fortification of our partnership with Knop and further expand into the Chilean market through our active pharmaceutical ingredient (API) offerings with an established pharmaceutical leader and pioneer in the cannabinoid sector in Chile. Over the past few years, we have worked closely together and are thrilled about the potential of what the two companies can accomplish jointly in the emerging medical and pharmaceutical industry, of the Southern Cone of Latin America," stated Lucas Nosiglia, president of Avicanna LATAM.

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.

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