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Avicanna Inc (AVCNF) is a biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the treatment of various medical conditions. The company's core business revolves around leveraging the therapeutic properties of cannabinoids to address unmet medical needs. Avicanna is committed to advancing innovative cannabinoid-based therapies through rigorous scientific research and strategic partnerships. With a strong emphasis on quality, safety, and efficacy, Avicanna aims to bring novel treatment options to patients worldwide. The company's financial stability, proven track record, and diverse product portfolio position it as a key player in the rapidly growing cannabis industry.
Avicanna has expanded its RHO Phyto medical cannabis products to the Caribbean through a partnership with Bryden Stokes Limited, focusing initially on Barbados. This move marks the company's entry into its 13th international market. The initial distribution will include three product SKUs, and the company plans to leverage Bryden Stokes' extensive network to reach the medical community and patients. Avicanna aims to establish RHO Phyto as a leading brand in the region, supported by an educational platform and strategic partnerships, including with Medipharm Labs for product delivery.
Avicanna reported a record gross revenue of $1,007,033 in Q3 2021, signifying a 24% increase from Q2. The company delivered 27,041 units of cannabis 2.0 products, a 61% rise from the previous quarter. The firm has expanded its product listings to 25 across Canadian medical and adult use channels, and successfully entered its 12th international market. A multi-year supply agreement with a Brazilian pharmaceutical partner is anticipated to generate $4.0M in revenue for fiscal 2022.
Avicanna Inc. announces a partnership with Viola, founded by NBA veteran Al Harrington, to distribute cannabis products across Canada. Available first on the Medical Cannabis by Shoppers online platform, followed by adult-use channels in Ontario and New Brunswick, Viola's products include THC and CBD vaporizers and cartridges. This collaboration aims to enhance minority representation in the cannabis industry. Avicanna will manage the commercialization of Viola-branded products nationally, marking a significant first for the Viola brand in Canada.
Avicanna Inc. (AVCNF) announces that its Colombian subsidiary, Santa Marta Golden Hemp S.A.S., has achieved Good Agricultural and Collection Practices (GACP) certification from the European Medicines Agency. This milestone enables the company to expand its Aureus-branded cannabis biomass sales globally, including to 11 countries. With a cultivation capacity of 30,000 kg of biomass annually, Avicanna aims to deliver certified cannabis flower following Colombian regulatory reforms. The GACP certification is a prerequisite for obtaining Good Manufacturing Practices (GMP) extraction certification, anticipated in 2022.
Avicanna Inc. has announced a successful export of CBD Isolate and full-spectrum psychoactive cannabis resin to a leading Chilean pharmaceutical company through its subsidiary, Santa Marta Golden Hemp S.A.S. The Cannabis Derivatives, branded as Aureus™, are cultivated and manufactured in Colombia. This is a recurring order, reflecting a strong partnership. Avicanna continues to ensure compliance with applicable laws and focuses on supplying standardized cannabis extracts and feminized seeds to various global partners, thereby strengthening its international presence in the cannabinoid market.
Avicanna has received approval from the Colombian government to cultivate and process up to 10,267 kg of dry flower for export, including psychoactive extracts. This quota will support the production of cannabinoid-based pharmaceutical products and seeds for commercial use. Additionally, the company has completed its first export of 20.75 kg of high THC and CBD cannabis extracts to Chile, a landmark event as it marks the first import of THC cannabis extracts into the country. This positions Avicanna strongly in the South American market for cannabinoid-based products.
Avicanna Inc. (TSX: AVCN, OTCQX: AVCNF) has entered into a licensing and royalty agreement with VB Brands California LLC (Viola) to commercialize Viola-branded cannabis products in Canada. Under this partnership, Avicanna will leverage its manufacturing and distribution channels to offer premium cannabis products, developed specifically for the Canadian market. Viola, founded by NBA veteran Al Harrington, focuses on social equity and education in the cannabis industry. This collaboration aims to promote diversity and inclusion while expanding Viola's mission into Canada.
Avicanna Inc. (TSX: AVCN, OTCQX: AVCNF) announced that CEO Aras Azadian will present at the Inaugural Emerging Growth Virtual Conference on March 17-18, 2021. The event will feature discussions on cannabis, healthcare, technology, and consumer products. Avicanna, a leader in cannabinoid research, focuses on developing plant-derived products for various markets. Their notable product lines include Pura H&W™ and RHO Phyto™, with ongoing clinical trials. Participants can join by signing up with M-Vest for exclusive access to content.
Avicanna Inc. has issued a correction regarding its previous news release concerning its presentation at the Q1 Virtual Investor Summit. The initial release was dated March 11, 2021, and has now been rendered void. Journalists and readers are advised to disregard it, ensuring that investors and stakeholders have accurate and reliable information regarding the company's activities.
Avicanna (AVCNF) announces CEO Aras Azadian's participation in the upcoming Q1 Virtual Investor Summit from March 23-25, 2021. Azadian's presentation is scheduled for March 24 at 2:00 PM ET. The summit is designed to connect smallcap and microcap companies with over 300 institutional and retail investors, featuring 100 participating companies. Interested investors can register for free at www.investorsummitgroup.com.
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