Avicanna’s Santa Marta subsidiary Golden Hemp SAS completes the first commercial export of feminized cannabis seeds from Colombia to Spain

Avicanna Inc.

Avicanna Inc.

First commercial export of Avicanna feminized seeds to Spain

Avicanna's Santa Marta Golden Hemp Company has completed the first commercial export of feminized seeds from Colombia to Spain

Avicanna’s Santa Marta Golden Hemp Company has completed the first commercial export of feminized seeds from Colombia to Spain

This marks Avicanna’s 19th exporty A new international market for Avicanna and 16y For Aureus branded products.

Not for distribution to US News Services or for publication in the United States.

TORONTO, Jan. 17, 2023 (GLOBE NEWSWIRE) — Avicanna Inc. (“avicanna“or the”company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and marketing of plant-derived cannabis products, is pleased to announce that, through its majority-owned Colombian subsidiary, Santa Marta Golden Hemp sass (“SMGH”)completed the first commercial export of feminized cannabis seeds to Spain.

PR_site_Aureus-to-Spain_Jan 13-2023

PR_site_Aureus-to-Spain_Jan 13-2023

The characterization and production of these seeds was completed by Avicanna’s vertical integration infrastructure at SMGH. The seeds are part of the Aureus family of products that also includes proprietary genetics in the form of feminized seeds, hemp extracts, and pure compounds including CBD, CBG, and THC. It is derived from hemp and hemp varieties and is produced on the company’s industrial, sustainable and economical operations based in Santa Marta, Colombia.

Lucas Noceglia, President of Avicanna LATAM commented: “We are pleased to announce this additional strategic achievement of meeting the quality and regulatory standards of the Spanish authorities through the commercial export of our federally registered and standardized genetics. This represents the 19th country that our products are exported to and we continue to see continued demand for our genetics software across international markets. We look forward to expanding our genetics business unit into Spain and the rest of the European Union as the demand for standard genetics increases with the advent of the cannabis industry.

To the best of its knowledge, the Company conducts its operations in compliance with all applicable laws of the jurisdictions in which it operates.

About Oreos

Avicanna’s Supply Chain business unit is located in Santa Marta, Colombia and provides a stable source of cannabis raw materials for the global market. These include active pharmaceutical ingredients and feminized seeds, for Avicanna’s cosmetic, medical and pharmaceutical products, as well as supply to the company’s partners around the world.

Aureus-branded products are grown, extracted and manufactured by Avicanna subsidiaries in Colombia where they take advantage of optimal environmental conditions to economically and sustainably produce cannabis active pharmaceutical ingredients and include a range of extracts of CBD, THC and rare cannabinoids such as CBG.

About Avicanna Inc.

Avicanna is an international commercial-stage biopharmaceutical company focused on the development and commercialization of evidence-based cannabis-based products for the global medical and pharmaceutical market segments. Avicanna has a well-established scientific platform including R&D and clinical development that has resulted in the commercialization of more than thirty products across different market segments:

Medical and wellness cannabis products: Marketed under the RHO Phyto™ brand, these medicinal and health products are a line of pharmaceutical cannabis products that contain varying percentages of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full suite of products including oral, sublingual, topical and transdermal dose-controlled deliveries, enhanced absorption and stability studies backed by preclinical data. Formulary is marketed through the education and training of consumers, patients, and the medical community.

Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a suite of patent-pending drug candidates that are specific for indications and in various stages of clinical development and commercialization. These cannabis-based drug candidates are looking to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. The first pharmaceutical formulation of Avicanna (Trunerox™) is in the drug registration phase in South America.

Click to see Avicanna’s corporate video for 2022

SOURCE Avicanna Inc.

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For more information about Avicanna, visit www.avicanna.com, contact Ivana Marek via email at info@avicanna.com or follow us on social media on LinkedIn, Twitter, Facebook or Instagram.

The company posts updates through videos from the company’s official YouTube channel.

Cautionary note regarding forward-looking information and statements

This press release contains “forward-looking information” within the meaning of applicable securities laws. The forward-looking information in this press release can be identified by the use of words such as, “may,” “will,” “could,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” and “plan”, “forecast”, “project”, “estimate”, “forecast” and other similar expressions.. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance It should not be based on forward-looking information because the Company can give no assurance that it will prove to be correct.Actual results and developments could differ materially from those contemplated by these statements.Forward-looking information is subject to a variety of risks and uncertainties that may cause actual events or results to differ materially different from those anticipated in the forward-looking information.These risks and uncertainties include, but are not limited to, current and future market conditions, including the market price of the Company’s common stock, and risk factors identified in the Company’s annual information form dated March 31, 2022 filed with Canadian Securities Regulators are available within the profile Inc. 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 intention 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.

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