The Avicanna subsidiary obtains Good Agricultural and
- The certification will allow the company’s Aureus-branded raw materials business, with sales in 11 countries, to include sustainable, low-cost cannabis biomass for sale and export to the global market.
- GACP certification for herbal raw materials from the European Medicines Agency is a prerequisite for GMP extraction and a requirement for the export of cannabis biomass to Europe.
TORONTO, November 04, 2021 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna“or the”Society) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacture and commercialization of plant-based cannabinoid products, is pleased to announce that its Colombian subsidiary majority-owned Santa Marta Golden Hemp SAS (“SMGH”) has met the Global Compliance Standards for Good Agricultural and Collection Practices (“GACP”), an international guide established by the European Medicines Agency for Raw Materials. plant origin for its 360,000 square foot cultivation project in Santa Marta, Colombia. The certification will expand the company’s raw material sourcing activities to include organic dried flowers and biomass and now GACP certified globally.
The Aureus Santa Marta brand, which includes a range of cannabinoids and standardized genetic offerings, has been successfully exported to 11 countries and, with this recent milestone, will include cannabis flower and biomass offerings to the company’s partners and to the global market. GACP certification also serves as a prerequisite for European GMP extraction certification, which the Company also intends to achieve in 2022.
The strategic timing of certification is further supported by recent progressive legislation in Colombia towards the cannabis industry where, according to Decree 811 of 2021, the export of cannabis flowers and biomass should be allowed.
The company’s cultivation infrastructure in Santa Marta, Colombia has a potential production of 30,000 kg of biomass per year where the company has commercially cultivated CBD, CBG and THC dominant cultivars for a few years. This certification complements the company’s goal of establishing a low-cost, sustainable, and standardized supply chain with global standards, including GACP and USDA National Organic Program organic certifications.
Lucas Nosiglia, President of Avicanna LATAM, said: “This achievement is in addition to our 3 years of optimization, ideal climatic conditions and the robust genetics of our growing practices which, combined, further enhance the obvious competitive advantages. of our global commodities business unit. Coupled with the new regulatory framework in Colombia which would allow the export of flowers; we will now deliver GACP certified and organic flowers from our greenhouse and outdoor modalities to the global market. “
To the best of the Company’s knowledge, it conducts its activities in compliance with all applicable laws in the jurisdictions in which it operates.
Avicanna’s raw materials business units are based in Santa Marta, Colombia, and are primarily focused on providing a constant source of cannabinoid raw materials for current commercial products and Avicanna’s pharmaceutical pipeline for the global market.
In addition, under the Aureus ™ brand, organic and GACP-certified flowers and biomass, standardized cannabis extracts and feminized seeds are made available to growers, cosmetics and pharmaceuticals around the world. Aureus brand products are cultivated, extracted and manufactured by Avicanna subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients in an economical and sustainable manner and include a range of extracts from CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federal legislation in Colombia, where the company is well positioned to be a global supplier of less competitive psychoactive extracts, including CBD and THC crude oil, to meet growing global demand.
Avicanna is a Canadian commercial-stage biopharmaceutical company and an established leader in research, development and evidence-based cannabinoid products for the global consumer, medical and pharmaceutical market segments. Avicanna conducts her research in Canada, including its R&D headquarters at the Johnson & Johnson Innovation Center, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established a cutting-edge scientific platform comprising advanced R&D and clinical development which has led to the commercialization of over twenty products in four main market segments:
- RHO Phyto ™: these medical and wellness products are an advanced line of pharmaceutical grade cannabis products containing varying proportions of CBD and THC. The product portfolio contains a comprehensive product form including oral, sublingual, topical and transdermal deliveries that have controlled dosage, improved absorption, and stability studies supported by preclinical data. These products are developed using pharmaceutical drug development processes and are supported by preclinical data. The advanced form is marketed with education and training of consumers, patients and the medical community.
- Pura H & W ™: these registered and clinically tested cosmetics include a portfolio of functional dermo-cosmetic and topical products for CBD consumers.
- Pharmaceutical pipeline: Leveraging the company’s science platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication-specific cannabinoid drug candidates that are in various stages of development. clinical and marketing. Avicanna’s drug candidates are in the preclinical stage and are dedicated to providing solutions to unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.
SOURCE Avicanna Inc.
For more information on Avicanna, visit www.avicanna.com, call 1-647-243-5283 or contact Ivana Maric by email at [email protected]
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Caution regarding forward-looking information and statements
This press 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 “could”, “would”, “could”, “will”, “probably”, “expect”, “anticipate”, “Believe,” intention “,” plan “,” forecast “,” project “,” estimate “,” prospect “and other similar expressions, and includes statements regarding the ability of the SMGH to maintain its licenses to cultivate cannabis , the ability of SMGH to maintain its certifications, the ability of SMGH to supply any other business based on its current or newly acquired certifications, or the ability of SMGH to acquire new certifications or business partnerships. management’s assumptions in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant to the circumstances, including assumptions about current and future conditions market, regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which this forward-looking information is based are reasonable, one should not place undue reliance on forward-looking information as the Company cannot guarantee that it 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. These risks and uncertainties include, without limitation, current and future market conditions, including the price of the Company’s common shares, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and the final short version prospectus dated November 27, 2020, filed with the Canadian securities regulatory authorities and available under the Company’s profile on SEDAR at www.sedar.com. The statements contained in this press release are made as of the date of this press 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.