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- The export of the CBG isolates into the United States is part of the first known
industrial cultivation, extraction, and purification of
cannabigerol ("CBG") in Colombia,
validating the Company's early mover advantage in proprietary
genetics, extraction, and high margin input materials.
- The commercial THC cultivation quota for 11,587
psychoactive plants will be used for commercial production of
THC derivatives for exports.
- The group of exports into the
United States were also piloted as a part of a global
tracking system through StrainSecure™, a brand of TruTrace
Technologies.
TORONTO, Aug. 24, 2020 /CNW/ - Avicanna Inc.
("Avicanna" or the "Company) (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the
development, manufacturing and commercialization of plant-derived
cannabinoid-based products announces that through its majority
owned subsidiary, Santa Marta Golden Hemp S.A.S. ("SMGH"),
the company has completed exports of CBG and CBD isolates into
the United States, CBD isolate
into Germany and the commencement
of a pilot tracking system for the export of its active
pharmaceutical ingredient ("API") products in partnership
with TruTrace Technologies Inc. ("TruTrace") (CSE: TTT)
(OTCQB: TTTSF). The Company is also pleased to announce that the
Colombian Ministry of Justice and Law has granted SMGH a commercial
and industrial cultivation quota for 12,264 THC plants by.
The export and sale of the commercial lot of isolated CBG into
the United States was completed in
parallel with commercial export of isolated CBD into the United States, as well as a pilot export
for R&D purposes of CBD into Germany. The cultivation, extraction and
purification of these cannabinoids including the rare cannabinoid,
CBG, were all completed through Avicanna's vertical integration at
SMGH and validate the company's innovation and leadership in
natural rare cannabinoid production. The products are part of the
Aureus™ product portfolio that now includes feminized seeds and
advanced formulations as well as CBD, CBG and THC API products.
"This is another massive accomplishment for our team in
Colombia as we enter the largest
market in the world for non-psychoactive cannabinoids with our
proprietary CBG offering. As the cannabinoid-derived products
sector continues to evolve, our Aureus branded portfolio continues
to advance in order to cater to the needs of our cosmetics and
pharmaceutical partners, which require an innovative, credible,
thoroughly-tested, organic, sustainable and economical source of
input materials. Additionally, with the support of TruTrace, the
Aureus products will be provided with traceability and trackability
all the way back to the seed through a secured blockchain system."
- Aras Azadian, Chief Executive
Officer of Avicanna.
The Colombian Ministry of Justice and Law granted SMGH a
supplementary cultivation quota to cultivate 12,264 psychoactive
cannabis plants. 11,587 plants will be destined to produce dry
flower which will then be used to manufacture psychoactive
derivatives for commercial production for export. The remaining 677
plants will be utilized for psychoactive derivatives for the
purposes of research and development and pilot production of
Avicanna's RHO Phyto™ branded products in Colombia.
Lucas Nosiglia, President of
Avicanna LATAM commented: "This achievement took years of
characterization, evaluation and planning which will finally allow
Avicanna to produce our THC products and export THC derivatives to
our international partners. As one of the only companies permitted
to produce THC commercially for the global market, we can focus on
less competitive and high margin products."
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 StrainSecure™ by TruTrace
Designed specifically by TruTrace for the cannabis industry,
StrainSecure™ is a fully integrated software platform, secured on
blockchain which aggregates and authenticates all testing and
quality assurance data on products and verifies the quality of each
batch and lot in distribution. Furthermore, this deployment will
mark the first utilization by TruTrace of the OrionOne™ global
freight and logistics solution in the cannabis sector thereby
providing dynamic visibility of verified Aureus products through
the entire international shipping process.
About Avicanna
Avicanna is a diversified and vertically integrated Canadian
biopharmaceutical company focused on the research, development and
commercialization of plant-derived cannabinoid-based products for
the global consumer, medical, and pharmaceutical market
segments.
Avicanna is an established leader in cannabinoid research and
development, which it primarily conducts at its R&D
headquarters in the Johnson & Johnson Innovation Centre, JLABS
@ Toronto, Canada and in
collaboration with leading Canadian academic and medical
institutions. In addition to its developing pharmaceutical
pipeline, Avicanna's team of experts have developed and
commercialized several industry leading product lines,
including:
- Pura H&W™: an advanced and clinically tested line of CBD
consumer derma-cosmetic products; and,
- RHO Phyto™: an advanced line of medical cannabis products
containing varying ratios of CBD and THC currently available
nation-wide across Canada in
partnership with Medical Cannabis by Shoppers™, a subsidiary of
Shoppers Drug Mart. RHO Phyto is the first strictly medical
formulary of advanced "Cannabis 2.0" products, containing oils,
sprays, capsules, creams, and gels, all developed with scientific
rigour, manufactured under GMP standards and supported by
pre-clinical data.
With ongoing clinical trials on its derma-cosmetic (Pura
H&W), medical cannabis (RHO Phyto) and a pipeline of
pharmaceutical products, Avicanna's dedication to researching the
important role that cannabinoids play in an increasingly wider
scope of products has been at the core of the Company's vision
since its inception. Furthermore, Avicanna's commitment to
education is demonstrated through its annual medical symposium, the
Avicanna Academy educational platform, and the My Cannabis Clinic
patient program through its subsidiary company.
Avicanna manages its own supply chain including cultivation and
extraction through its two majority-owned subsidiaries, Sativa
Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in
Santa Marta, Colombia. Through these sustainable,
economical, and industrial scale subsidiaries, Avicanna cultivates,
processes, and commercializes a range of cannabis and hemp
cultivars dominant in CBD, CBG, THC, and other cannabinoids for use
as active pharmaceutical ingredients. Avicanna's Avesta Genetica
program specializes in the development and optimization of rare
cultivars for commercial production along with feminized seeds for
global export. In June 2020, Avicanna
made history with a shipment of hemp seeds to the United States of America by completing the
first ever export of hemp seeds from Colombia.
Stay Connected
For more information about Avicanna, visit www.avicanna.com,
call 1-647-243-5283, or contact Setu
Purohit, President by email at info@avicanna.com.
Cautionary Note Regarding Forward-Looking Information and
Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws. Forward-looking
information contained in this press release may be identified by
the use of words such as, "may", "would", "could", "will",
"likely", "expect", "anticipate", "believe, "intend", "plan",
"forecast", "project", "estimate", "outlook" and other similar
expressions, and includes statements with respect to the ability of
SMGH to continue to complete exports of CBD and CBG isolates to
the United States and Germany, SMGH's ability to continue selling
CBD and CBG isolates in the United
States and Germany, SMGH's
ability to make use of the supplementary cultivation quota granted
by the Colombian Ministry of Justice and Law, the ability of the
Company to produce THC products using API produced by SMGH, and the
ability of SMGH to export THC derivatives internationally.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management in light of management's experience and perception of
trends, current conditions and expected developments, as well as
other factors relevant in the circumstances, including assumptions
in respect of current and future market conditions, the current and
future regulatory environment; and the availability of licenses,
approvals and permits.
Although the Company believes that the expectations and
assumptions on which such forward-looking information is based are
reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no
assurance that they will prove to be correct. Actual results and
developments may differ materially from those contemplated by these
statements. Forward-looking information is subject to a variety of
risks and uncertainties that could cause actual events or results
to differ materially from those projected in the forward-looking
information. Such risks and uncertainties include, but are not
limited to current and future market conditions, including the
market price of the common shares of the Company, and the risk
factors set out in the Company's annual information form dated
April 15, 2020, filed with the
Canadian securities regulators and available under the Company's
profile on SEDAR at www.sedar.com.
The statements in this press release are made as of the date
of this release. The Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE Avicanna Inc.