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Avicanna $AVCN.ca August 2020 Recap $KHRN.ca $TRUL.ca $VFF.ca

Posted by AGORACOM-JC at 12:04 PM on Tuesday, September 8th, 2020
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AVICANNA AUGUST 2020 RECAP

Achievements and Announcements 
August has been another incredibly progressive month for the Avicanna team with major commercial milestones being achieved. This included the nation-wide launch of our leading medical cannabis brand RHO Phyto in partnership with Medical Cannabis by Shoppers Drug Mart in Canada, the closing of a private placement financing, export of rare cannabinoids including CBG into the Unites States and strategic partnership with Red White and Bloom to distribute Pura H&W in the United States. 

See below highlights and press releases:
 
August 24, 2020

Avicanna Advances its Supply Chain Business with Commercial Exports of CBG And CBD into the United States and Germany as well as Industrial Scale THC Quota Granted by the Colombian Authorities

Avicanna majority owned subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH“) 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 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 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 our RHO Phyto™ branded products in Colombia.
 
News Release
 
August 18, 2020

Avicanna Closes Non-Brokered Private Placement Raising $2.7 Million

Avicanna closed a non-brokered private placement (the “Offering“). Under the Offering, Avicanna issued an aggregate of 1,952,410 units (the “Units“) at a price of CAD$1.40 per Unit for aggregate gross proceeds of approximately CAD$2.7 million. Avicanna intends to use the proceeds from the Offering for corporate development and general working capital purposes.
News Release
 
August 17, 2020
 
Avicanna Reports Second Quarter 2020 Financial Results and Provides Corporate Update

Successfully launched advanced “medical cannabis 2.0” products under RHO Phyto™ brand nation-wide in Canada through Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart Revenue increase of 172% from $260,903 in Q1 2020 to $709,468 in Q2 2020, and a substantial increase from $16,571 in Q2 2019, coupled with 8% cost reduction from Q1 2020, and 31% cost reduction from Q2 2019 Continued to fortify cannabinoid research and clinical leadership position in Canada with advancements with several collaborations with world class institutions including the MC-RWE by UHN
News Release
 
August 12, 2020

Avicanna’s RHO Phyto™ Medical Product Line is Now Available Nation-Wide in Canada Through Medical Cannabis by Shoppers Inc.

RHO Phyto “Micro Drop” oil formulations are the first of the RHO Phyto formulary of advanced medical cannabis products available for patients and health care practitioners on the Medical Cannabis by Shoppers™ platform. This product line includes advanced formulations under the “Cannabis 2.0” regulations that have undergone years of research and development and been manufactured under GMP standards at MediPharm Labs Inc. The RHO Phyto products are also now available to clinicians and patients at the University Health Network through the Medical Cannabis Real World Evidence study in partnership with Medical Cannabis by Shoppers.
News Release
 
August 11, 2020

Avicanna and Red White & Bloom enter Exclusive Partnership for the Distribution and Commercialization of Pura H&W Hemp-Derived CBD-Based Topical Products in the United States

Avicanna entered into a distribution agreement for the exclusive distribution of our advanced and clinically backed CBD-based cosmetic and topical products Pura H&W™ by Red White Bloom (“RWB”) in the US and certain other markets. The launch of this innovative and premium hemp-derived CBD product line will leverage from the growing use of online platforms for shopping including Pura H&W’s own e-commerce platform, third party e-commerce channels, and “big box” retailers in addition to the existing commercial infrastructure of RWB in the United States.
News Release
 
IN CASE YOU MISSED THIS
 
August 7, 2020

Avicanna Inc. to Host Second Quarter 2020 Investor Conference Call Avicanna announced its first ever second quarter 2020 investor conference call on August 17, 2020. 

Q2 2020 Earnings Call Transcript

Avicanna $AVCN.ca $AVCNF Advances its Supply Chain Business and Announces Filing of Amended Interim Financial Statements $KHRN.ca $TRUL.ca $VFF.ca

Posted by AGORACOM-JC at 8:31 AM on Friday, September 4th, 2020
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  • Company has completed exports of CBD water soluble formula into the United States and CBD-based cosmetics into the United Kingdom
  • Company is also pleased to announce that the Colombian Ministry of Health has granted SMGH a commercial and industrial fabrication quota to produce psychoactive THC derivatives.
  • The export and sale of the commercial lot of isolated CBD water soluble formula into the United States was completed in parallel with an export of CBD-based cosmetics into the United Kingdom
  • The cultivation, extraction and purification of these products were all completed through Avicanna’s vertical integration at SMGH and validate the Company’s innovation and leadership in natural rare cannabinoid production

TORONTO, Sept. 4, 2020 – 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 CBD water soluble formula into the United States and CBD-based cosmetics into the United Kingdom. The Company is also pleased to announce that the Colombian Ministry of Health has granted SMGH a commercial and industrial fabrication quota to produce psychoactive THC derivatives. 

The Company also announces that it has amended and refiled its interim financial statements for the period ended June 30, 2020 (the “Interim Financial Statements”) which amend the Company’s interim financial statements for the same period originally filed on SEDAR on August 14, 2020. At the request of the Ontario Securities Commission, the Interim Financial Statements have been updated to include comparative financial information for the corresponding interim period in the immediately preceding financial year as such information was inadvertently omitted in the initial filing. The changes are for presentation purposes and no figures have been restated. The Company has updated the Statement of Changes in Equity to include the immediately preceding financial year June 30, 2019 balances as required by Section 4.3(2)(b) of National Instrument 51-102 – Continuous Disclosure Obligations.

The export and sale of the commercial lot of isolated CBD water soluble formula into the United States was completed in parallel with an export of CBD-based cosmetics into the United Kingdom. The cultivation, extraction and purification of these products were all completed through Avicanna’s vertical integration at SMGH and validate the Company’s innovation and leadership in natural rare cannabinoid production. The CBD water soluble formula is part of the Aureus™ product portfolio that now includes feminized seeds and advanced formulations as well as CBD, CBG and THC API products. The CBD-based cosmetics were manufactured using CBD produced by SMGH and formulas developed by Avicanna.

The Colombian Ministry of Health granted SMGH a supplementary fabrication quota to receive 1.4 tons of dry flower and transform them into approximately 150 kg of psychoactive derivatives which will be used for commercial exports.

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

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[email protected].

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 the Company to complete additional exports of  CBD water soluble formula to the United States, the ability of the Company to complete additional exports of CBD-based cosmetics in to the United Kingdom, the ability of the Company to continue manufacturing CBD-based cosmetics using CBD produced by SMGH, the ability of SMGH to receive 1.4 tons of dry flower for the purposes of extracting psychoactive derivatives, and the ability of SMGH to produce 150 kg of psychoactive derivatives. 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.