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- This preliminary export to Austria marks Avicanna’s first industrial export of psychoactive THC Hashish Extracts into the rising European medicinal hashish market.
- The brand new decree by the Colombian authorities is designed to progress industrial initiatives associated to the hashish sector and fortify Colombia’s aggressive benefits at a worldwide stage
- A number of enterprise items of Avicanna’s vertically built-in infrastructure are positioned to profit from the new regulatory framework set out in Decree 811 of 2021
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TORONTO, July 28, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Firm“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical firm targeted on the event, manufacturing and commercialization of plant-derived cannabinoid-based merchandise is happy to announce that, by way of its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), it has accomplished its first industrial export of excessive focus THC full spectrum psychoactive hashish extracts to Austria. Moreover, the corporate welcomes the brand new Colombian regulation aimed toward progressing the hashish business and its commercialization processes which positively impacts a number of of Avicanna’s enterprise items and infrastructure in Colombia.
Preliminary cargo of THC extracts into the European Union
This cargo marks the 9th nation to which SMGH has exported the Aureus™ branded merchandise, which embody a variety of CBD, THC and CBG extracts and feminised seeds. Avicanna’s SVP, European Operations, Jens Kramer, commented: “We’re very joyful to additional progress our long-term technique to develop our API enterprise into the rising European market. With Avicanna’s dedication to high quality requirements and pharmaceutical positioning we’re poised to be a major long-term participant within the European medical market that’s predominantly targeted on medical utility of cannabinoids and the place assembly EU pharmacopeia requirements are important.”
New progressive regulation on hashish in Colombia
Decree quantity 811, which was issued on July 23, 2021, modifies the regulatory framework and establishes a brand new and extra progressive framework that can revitalize and industrialize the Colombian hashish business. The brand new regulatory framework brings new inclinations and mechanisms that: (i) enhance approval instances for cultivation and manufacturing quotas; (ii) create the chance to develop and commercialize meals merchandise with hashish; (iii) take away the prohibition to export hashish dry flower; (iv) broaden the licensed dispensation mechanisms for hashish compound formulation; and (v) removes the prohibition relating to the promotion or commercial of hashish, hashish by-products, and merchandise containing hashish.
Anticipated advantages to Avicanna’s enterprise items and infrastructure in Colombia
The enhancements introduced upon by this new regulatory framework are anticipated to have a constructive affect in a number of segments of the hashish business in Colombia, and extra particularly in a number of enterprise items of Avicanna’s vertically built-in infrastructure in Colombia:
- The rise in effectivity within the quota approval course of for cultivation and manufacturing and the chance to export hashish dry flower is anticipated to reinforce the market alternative for Avicanna’s provide chain enterprise below the Aureus™ model that has been delivery cannabinoid extracts and feminized seeds into 4 continents from its Colombian base, in addition to generate a brand new demand for Avesta Genetica’s feminized seeds catalog among the many roughly 700 licensed hashish cultivators in Colombia.
- Creation of a brand new class of meals merchandise for B-B and completed merchandise that may additionally profit from Avicanna’s proprietary water soluble and extremely bio-available formulations
- The inclusion of drugstores as viable dispensation areas for hashish compound formulation is anticipated to invigorate Avicanna’s presently industrial compound pharmacy enterprise unit by creating hundreds of potential dispensation institutions.
- The elimination of the prohibition relating to the promotion or commercial of merchandise containing hashish, is anticipated to stimulate Avicanna’ s completed product section by allowing a extra direct and complete advertising and marketing strategy for manufacturers corresponding to Pura H&W™ and RHO Phyto™ in Colombia.
Lucas Nosiglia, President of Avicanna LATAM, commented: “We’re happy to see Colombian hashish laws progressing, opening new alternatives along with fortifying the prevailing enterprise fashions we have now already established with strict limitation. This additional validates our imaginative and prescient and choice to construct our infrastructure in Colombia the place we anticipate to have the ability to provide our companions and all Avicanna’s cannabinoid wants.”
To the information of the Firm, it carries out its operations in compliance with all relevant legal guidelines within the jurisdictions during which it operates.
About Aureus™
Avicanna’s provide chain enterprise items are based mostly out of Santa Marta, Colombia and are primarily devoted to offering constant supply of cannabinoid uncooked supplies for Avicanna’s present industrial merchandise and pharmaceutical pipeline for the worldwide market.
Moreover, below the Aureus™ model, standardized hashish extracts and feminized seeds are made accessible to cultivation, beauty and pharmaceutical companions world wide. Aureus branded merchandise are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia the place they profit from optimum environmental situations to supply cannabinoid energetic pharmaceutical elements economically and sustainably and embody a variety of extracts of CBD, THC and uncommon cannabinoids corresponding to CBG. Avicanna’s provide chain enterprise additionally advantages from federally regulated laws in Colombia the place the corporate is effectively positioned to be a worldwide provider of the much less aggressive psychoactive extracts together with CBD and THC crude oil to satisfy the rising world demand.
About Avicanna
Avicanna is a diversified and vertically built-in Canadian biopharmaceutical firm targeted on the analysis, growth and commercialization of plant-derived cannabinoid-based merchandise for the worldwide shopper, medical, and pharmaceutical market segments.
Avicanna is a longtime chief in cannabinoid analysis and growth, which it primarily conducts at its R&D headquarters within the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with main Canadian tutorial and medical establishments. Along with its creating pharmaceutical pipeline, Avicanna’s staff of consultants have developed and commercialized a number of business main product traces, together with:
- Pura H&W™: a complicated and clinically examined line of CBD shopper derma-cosmetic merchandise; and,
- RHO Phyto™: a complicated line of medical hashish merchandise containing various ratios of CBD and THC presently accessible nation-wide throughout Canada in partnership with Medical Hashish by Consumers™, a subsidiary of Consumers Drug Mart. RHO Phyto is the primary strictly medical formulary of superior “Hashish 2.0” merchandise, containing oils, sprays, capsules, lotions, and gels, all developed with scientific rigour, manufactured below GMP requirements and supported by pre-clinical knowledge.
With ongoing medical research on its derma-cosmetic (Pura H&W), medical hashish (RHO Phyto) and a pipeline of pharmaceutical merchandise, Avicanna’s dedication to researching the essential function that cannabinoids play in an more and more wider scope of merchandise has been on the core of the Firm’s imaginative and prescient since its inception. Moreover, Avicanna’s dedication to training is demonstrated by way of its annual medical symposium, the Avicanna Academy instructional platform, and the My Hashish Clinic affected person program by way of its subsidiary firm.
Avicanna manages its personal provide chain together with cultivation and extraction by way of its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., each positioned in Santa Marta, Colombia. By these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a variety of hashish and hemp cultivars dominant in CBD, CBG, THC, and different cannabinoids to be used as energetic pharmaceutical elements. Avicanna’s Avesta Genetica program specializes within the growth and optimization of uncommon cultivars for industrial manufacturing together with feminized seeds for world export. In June 2020, Avicanna made historical past with a cargo of hemp seeds to america of America by finishing the primary ever export of hemp seeds from Colombia.
SOURCE Avicanna Inc.
Keep Linked
For extra details about Avicanna, go to www.avicanna.com, name 1-647-243-5283, or contact Setu Purohit, President by electronic mail at data@avicanna.com.
The corporate posts updates by way of movies from the official firm YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
Cautionary Be aware Concerning Ahead-Trying Info and Statements
This information launch incorporates “forward-looking info” throughout the that means of relevant securities legal guidelines. Ahead-looking info contained on this press launch could also be recognized by way of phrases corresponding to, “could”, “would”, “may”, “will”, “doubtless”, “anticipate”, “anticipate”, “imagine”, “intend”, “plan”, “forecast”, “challenge”, “estimate”, “outlook” and different comparable expressions, and contains statements with respect to the flexibility of SMGH to finish further exports of Hashish Extracts to Austria, the flexibility of SMGH to proceed to domesticate, extract, and manufacture the Hashish Extracts and the flexibility of SMGH to provide drugstores, pharmacies, and pharmaceutical and beauty corporations with cannabinoids (together with uncommon cannabinoids) and cannabis-derived merchandise, along with supplying world cultivation corporations with standardized and feminized seeds. Ahead-looking info just isn’t a assure of future efficiency and is predicated upon a variety of estimates and assumptions of administration in gentle of administration’s expertise and notion of tendencies, present situations and anticipated developments, in addition to different components related within the circumstances, together with assumptions in respect of present and future market situations, the present and future regulatory atmosphere; and the provision of licenses, approvals and permits.
Though the Firm believes that the expectations and assumptions on which such forward-looking info is predicated are affordable, undue reliance shouldn’t be positioned on the forward-looking info as a result of the Firm may give no assurance that they’ll show to be right. Precise outcomes and developments could differ materially from these contemplated by these statements. Ahead-looking info is topic to a wide range of dangers and uncertainties that might trigger precise occasions or outcomes to vary materially from these projected within the forward-looking info. Such dangers and uncertainties embody, however are usually not restricted to present and future market situations, together with the market worth of the widespread shares of the Firm, and the danger components set out within the Firm’s annual info kind dated April 15, 2020, and last brief kind prospectus dated November 27, 2020, filed with the Canadian securities regulators and accessible below the Firm’s profile on SEDAR at www.sedar.com.
The statements on this press launch are made as of the date of this launch. The Firm disclaims any intent or obligation to replace any forward-looking info, whether or not on account of new info, future occasions or outcomes or in any other case, aside from as required by relevant securities legal guidelines.
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/e93726ec-de78-4bba-8a85-9ab50e6f8fc4
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