Avicanna August Recap

A Monthly Overview of Avicanna’s Announcements

August 8, 2019

Avicanna Announces Joint Venture with Sigma Analytical Services Inc.

• Avicanna enters into a joint venture with Sigma Analytical Services Inc. (“Sigma Analytical“) to establish the first cannabinoids-only, analytical laboratory in South America in line with Health Canada, European Pharmacopeia, US Pharmacopeia.
• The laboratory is to be located within the SMGH facilities and testing services will be provided to Santa Marta Golden Hemp S.A.S. (“SMGH“) and Sativa Nativa S.A.S. (“Sativa Nativa“), two subsidiaries of Avicanna, and are expected to also be offered to a variety of small to large licensed producers.
• Current and proposed legislation requires independent laboratory testing for cannabis extract for future medical sales and export. However, as full-suite testing in line with global standards is currently unavailable in Colombia, it requires many companies to go through the lengthy process to export samples for validated testing results.
• The laboratory will provide a comprehensive suite of cannabis specific testing, which will include pesticides, heavy metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid and terpene profiling.
• This joint venture signifies the beginning of a key partnership and an important step towards Avicanna’s commitment to providing world-class product quality and consistency in accordance with global standards.

August 19, 2019

Avicanna Secures Canadian Cannabinoid Research Licence at HQ in Toronto’s Discovery District

• Avicanna receives a cannabis research licence (the “Research Licence) from Health Canada in its MaRS headquarters in Toronto, Canada.
• This licence provides Avicanna with the ability to apply for a permit to directly import its own cannabinoid active pharmaceutical ingredients (“APIs”) from its subsidiaries’s facilities in Colombia to its research and development headquarters located at the MaRS Discovery District in Toronto, to conduct its own research and development, and continue product and intellectual property development.

August 23, 2019

Avicanna Completes its First Exportation of Cannabinoids from Colombia to Canada for Scientific Purposes

• Avicanna announces the successful completion of its first export of purified cannabidiol (“CBD”) from its subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH“).
• Health Canada issued three authorizations to SMGH on June 28, 2019 to allow for the import of CBD isolates and cannabis resin into Canada from Colombia for scientific purposes. The CBD isolates cleared Colombian border procedures and were exported from Colombia on August 22, 2019.

August 30, 2019

Avicanna Further Strengthens its Position as a Canadian Leader in Cannabinoid Based Research and Development with Expansion of University of Toronto Collaboration and Execution of University of Guelph Research Agreement

University of Toronto Collaboration

• Avicanna has expanded the scope and duration of its research and collaboration agreement with Dr. Christine Allen’s research group at the University of Toronto.
• The expanded scope outlines several projects including:
  • Pre-clinical analysis of Avicanna’s pipeline of phyto-therapeutic & pharmaceutical products.
  • Development of other pharmaceutical dosage forms including sustained release formulations.
  • Analysis of the safety, efficacy and potential synergies of cannabinoids and other therapeutic agents.
  • Design and develop advanced nanoparticle and microparticle-based pharmaceutical formulations comprised of cannabinoid/terpene-based therapies with a specific focus on applications in cancer, osteoarthritis and inflammatory bowel disease.
• In addition, Dr. Allen has accepted a role as Associate Vice-President & Vice-Provost, Strategic Initiatives at the University of Toronto. In connection with her appointment, Dr. Allen has stepped down as our Chief Scientific Officer. However, Dr. Allen will increase her involvement in Avicanna’s pharmaceutical development and optimization through the expanded collaboration between Avicanna and Dr. Allen’s research group.

University of Guelph Collaboration

• Avicanna has also entered into a research agreement with the University of Guelph for a project to be performed by Dr. Max Jones, Associate Professor, Department of Plant Agriculture, as principal investigator – who has been involved in the development of Avicanna’s long term genetics and breeding program over the past six (6) months.
• This project will focus on:
  • The stabilization of unique commercial strains.
  • Long term selective breeding programs to develop genetics with increased efficiency and also increased expression of rare cannabinoids.