Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa, The Canadian Enterprise Journal

Home business Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa, The Canadian Enterprise Journal
Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa, The Canadian Enterprise Journal
Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa, The Canadian Enterprise Journal

Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa, The Canadian Enterprise Journal

TORONTO, June 24, 2022 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicana“or the”an organization(TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) A biopharmaceutical firm targeted on creating, manufacturing and advertising and marketing plant-derived cannabis-derived merchandise is happy to announce the sale of its stake in Sativa Nativa SAS (‘authentic sativa’), which was a Colombian subsidiary owned by the corporate with a secondary majority.

The whole value paid by the client for the Firm’s shares in Sativa Nativa was roughly C$675,000 plus a possible premium of C$130,000 topic to particular short-term milestones being achieved. The transaction permits the corporate to remove redundancies, cut back its working prices, and obtain efficiencies throughout its South American operations by focusing its provide chain efforts on the bigger and extra operationally superior Santa Marta Golden Hemp (“SMGH”) subsidiary. The operations at SMGH have been the supply of the Aureus-branded firm’s exports to 16 international locations and embody the cultivation, extraction and manufacturing of hashish uncooked supplies together with lively pharmaceutical elements and seeds. SMGH can be the supply for the corporate’s cannabinoids for many of its beauty and pharmaceutical merchandise.

Lucas Nosiglia, President of Avicanna LATAM commented: “We are pleased to announce this strategic transaction that allows us to increase efficiencies throughout our supply chain infrastructure and refocus resources on our core business units including pharmaceutical preparations. In parallel, we continue to make progress in our supply chain business at SMGH through which we have the ability to continue to provide Avicanna and its global partners with high quality inputs.”

About Oreos

Avicanna’s Provide Chain Enterprise Unit is situated in Santa Marta, Colombia, and offers a constant supply of hashish uncooked supplies for the worldwide market. These embody lively pharmaceutical elements and feminized seeds, for Avicanna’s beauty, medicinal and pharmaceutical merchandise, in addition to supplying the corporate’s companions worldwide. Aureus-branded merchandise are grown, extracted and manufactured by Avicanna associates in Colombia the place they reap the benefits of optimum environmental situations to economically and sustainably produce lively pharmaceutical elements for hashish with USDA Natural and GACP certifications.

About Avicanna Inc.

Avicanna is a commercial-stage worldwide biopharmaceutical firm targeted on creating and advertising and marketing evidence-based cannabis-based merchandise to the worldwide medical and pharmaceutical market segments. Avicanna has a well-established scientific platform together with R&D and scientific improvement which has resulted within the advertising and marketing of greater than thirty merchandise throughout numerous market segments:

Medical and wellness hashish merchandise: These medical and well being merchandise are marketed beneath the RHO Phyto™ model, a line of pharmaceutical hashish merchandise that include various proportions of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product vary incorporates a full vary of merchandise together with oral, sublingual, topical and transdermal dose-controlled, enhanced absorption and stability research backed by pre-clinical information. The recipe booklet is marketed with training and coaching of shoppers, sufferers and the medical group.

Pharmaceutical pipeline: Using Avicanna’s scientific platform, vertical integration, and real-world proof, Avicanna has created a portfolio of patent-pending candidate medication which are particular to indications and in numerous phases of scientific improvement and commercialization. These cannabis-based drug candidates want to meet unmet medical wants within the areas of dermatology, power ache, and numerous neurological issues. The primary Avicanna (Trunerox™) pharmaceutical grade in South American drug registration.

Click on to observe Avicanna’s 2022 video

Supply: Avicanna Inc.

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For extra info on Avicanna go to www.avicanna.com Contact Ivana Maric by e-mail at [email protected] Or observe us on social media on LinkedIn, Twitter, Fb or Instagram.

The corporate publishes updates by means of movies from the corporate’s official YouTube channel.

Cautionary word concerning forward-looking info and statements

This press launch incorporates “forward-looking information” throughout the which means of relevant securities legal guidelines. Ahead-looking info contained on this press launch could also be recognized utilizing phrases comparable to, “may,” “will,” “could,” “will,” “likely,” “expect,” “expect,” “believe,” “intend,” planning”, “forecasting”, “project”, “estimate”, “expectations” and different related expressions. Though the Firm believes that the expectations and assumptions on which such forward-looking info relies are cheap, it shouldn’t place undue reliance on the forward-looking info As a result of the corporate can provide no assure that it’s going to show right Precise outcomes and developments might differ materially from these contemplated in these statements Ahead-looking info is topic to quite a lot of dangers and uncertainties that would trigger precise occasions or outcomes to vary materially from these projected within the forward-looking info contains These dangers and uncertainties are, with out limitation, present and future market situations, together with the market value of the Firm’s frequent inventory, and the danger components described within the Firm’s Annual Data Kind dated March 31, 2022 filed with Canadian Securities Regulators and out there throughout the Firm’s profile on SEDAR at ww w.sedar.com. Statements on this press launch are made as of the date of this launch. The Firm disclaims any intention or obligation to replace any forward-looking info, whether or not because of new info, future occasions or outcomes, or in any other case, apart from as required by relevant securities legal guidelines.

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