Agoracom Blog

Avicanna $ August 2020 Recap $ $ $

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


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
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

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