Annuncio • Jul 01
Avicanna Inc. Promotes Nick Hilborn to Chief Financial Officer, Effective June 30, 2026 Avicanna Inc. announced that Mr. Nick Hilborn, CPA, CA had been promoted to the position of Chief Financial Officer (CFO) effective June 30, 2026. Mr. Hilborn served as the Interim CFO at the Company since September 2025, and previously held the role of Vice President of Finance since July 2024. Prior to joining the Company, Mr. Hilborn held roles at Telus, EY, and PwC. New Risk • Jun 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 18% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Significant insider selling over the past 3 months (€86k sold). Market cap is less than US$100m (€9.99m market cap, or US$11.4m). Annuncio • Jun 13
Avicanna Inc. announced that it has received CAD 0.600002 million in funding Avicanna Inc announced a non-brokered private placement offering of 4,000,014 units of the Company (“Units”) at a price of CAD 0.15 per Unit for aggregate gross proceeds of CAD 600,002.10 on June 12, 2026. Each Unit is comprised of one common share in the capital of the Company (each, a “Unit Share”) and one-half of one (0.5) common share purchase warrant of the Company (each whole warrant, a “Warrant”); and, each Warrant shall entitle the holder thereof to acquire one (1) common share in the capital of the Company at an exercise price of CAD 0.20 per share, subject to adjustment in certain events, until June 12, 2029. The Unit Shares and Warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable securities laws in Canada. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. New Risk • Jun 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.60m (US$9.92m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.2m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (€8.60m market cap, or US$9.92m). Minor Risk Significant insider selling over the past 3 months (€86k sold). Annuncio • Apr 07
Avicanna Inc. Announces Board Changes, Effective April 1, 2026 Avicanna Inc. announced effective April 1, 2026, the resignation of John McVicar and the appointment of Mr. Ozgur Kilic to the Board of Directors of the Company. Mr. Kilic is an experienced global business executive and Chief Executive Officer with a background as a strategic Chief Financial Officer and Chief Operating Officer with more than 20 years of experience at various global public companies and private equity backed pharma companies across the US, UK, Italy, and Switzerland. Mr. Kilic is a graduate of Koc University (BA, Business Administration; BA, History) and Stuttgart Institute of Management and Technology (MBA, Finance & Investment) and is qualified as Associate Chartered Management Accountant (ACMA) and Chartered Global Management Accountant (CGMA) by the Chartered Institute of Management Accountants. Annuncio • Mar 16
Avicanna Inc. Announces Sponsorship of University of Calgary THC Dose Finding Clinical Trial Avicanna Inc. announced the initiation of new Phase I randomized, double-blinded, placebo-controlled, dose-finding clinical trial led by researchers at the University of Calgary’s Cumming School of Medicine. The Trial is led by Dr. Leah Mayo, Assistant Professor, and supported by Dr. Matthew Hill, Professor at the University of Calgary. This single site, randomized, double-blind, placebo-controlled crossover trial will enroll 24 healthy adult participants. Participants will receive single oral doses of THC across separate study visits at 6 mg, 9 mg, and 15 mg, as well as placebo, with washout periods between dosing sessions. Primary endpoints focus on validated psychometric assessments of anxiety and subjective response. Secondary endpoints include measures of mood and intoxication, cardiovascular parameters, circulating stress biomarkers, endocannabinoid system markers, and pharmacokinetic profiling. The Trial is designed to generate high resolution dose response data to better define the therapeutic window of oral THC and to characterize interindividual variability in response. The Trial utilizes Avicanna’s proprietary AVCN319301b THC capsules which utilize the Company’s Solid Self-Emulsifying Drug Delivery System (SEDDs) technology. Due to the highly lipophilic nature and poor water-solubility of cannabinoids, typical cannabis formulations have poor absorption and variability of onset. Avicanna’s oral delivery systems offer an effective route for non-invasive and non-inhalation administration of cannabinoids. The proprietary capsules are also enrolled in a previously announced pilot phase II randomized controlled trial for osteoarthritis with the University Health Network. Avicanna’s SEDDs technology has demonstrated robustness and versatility through different drug delivery formats including several commercial products such as liquid infuser drops, capsules and an extensive pipeline of products currently in commercialization stage. Annuncio • Mar 02
Avicanna Inc., Annual General Meeting, Apr 30, 2026 Avicanna Inc., Annual General Meeting, Apr 30, 2026. Annuncio • Feb 11
Avicanna Inc. announced that it has received CAD 1.55 million in funding Avicanna Inc. issued and completed a non-brokered private placement of 7,750,001 units of the Company at a price per Unit of CAD 0.20 for gross proceeds of CAD 1,550,000.2 on February 10, 2026. Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company and, each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 0.25 per share, subject to adjustment in certain events, until February 10, 2029. The Unit Shares and Warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable securities laws in Canada. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. Annuncio • Jan 30
Avicanna Inc. Announces Medical Cannabis Real World Evidence Results and Publication Avicanna Inc. announced the publication of results from an investigator-led Medical Cannabis Real-World Evidence (MCRWE) study conducted through the MyMedi.ca platform. The study led by Dr. Hance Clarke, Director of Pain Services at University Health Network (UHN), and has been published in the peer-reviewed Canadian Journal of Pain. The prospective, observational study evaluated patient-reported outcomes among individuals with chronic pain receiving physician-authorized medical cannabis in routine clinical practice. The study reflects a health-care provider-supervised model of medical cannabis use and was supported by multiple clinicians and medical institutions across Canada. The study was led by Dr. Hance Clarke at the University Health Network (UHN) and supported by several other clinicians and medical institutions. The publication reports findings from a cohort of chronic pain patients enrolled in a prospective, observational study assessing patient-reported outcomes over a 24-week follow-up period. Outcomes were measured using validated assessment tools commonly employed in pain and mental health research. The observational results demonstrated statistically significant improvements from baseline in measures of pain interference and pain intensity, as well as improvements in validated measures of anxiety, depressive symptoms, and overall quality of life over the 24-week observation period. While the magnitude of change did not meet established minimal clinically important difference thresholds, the observed directional improvements are consistent with findings reported in existing real-world and clinical literature. The results underscore the need for further placebo-controlled randomized trials to better define optimal dosing strategies, formulations, and routes of administration for medical cannabis. Annuncio • Dec 24
Avicanna Inc. Announces Board Changes Avicanna Inc. announces Mr. Paul Fornazzaris resignation from the Company’s board of directors, and announced the appointment of Mr. Michael Kott to its board of directors. Michael Kott will join the board January 1, 2026, is an experienced Chief Executive Officer, entrepreneur, and investor with more than 35 years of expertise in international capital markets, corporate finance, and fundraising. Mr. Kott is the Founder and Chief Executive Officer of CM-Equity AG, which he built into a regulated investment bank operating across Europe under MiFID II before transitioning it in 2025 into a global single-family office focused on long-term value creation. Mr. Kott has an extensive track record serving on public and private company boards, with deep expertise in governance, compliance, capital markets transactions, IPOs, and cross-border investments. He is an active independent investor across public equities, venture capital, and alternative assets, with experience spanning biopharma and longevity, technology, cleantech, and sustainability. Annuncio • Nov 19
Avicanna Inc. Announces Pre-Clinical Data Supporting Enhanced Absorption and Patent Filing for Novel Oral Delivery Platform Avicanna Inc. announced positive preclinical results and the filing of a provisional patent application with the United States Patent and Trademark Office (USPTO) for its novel Powder Drug Delivery System ("PwdRx") platform. The drug delivery platform has been specifically developed to address key formulation challenges associated with highly lipophilic cannabinoids (CBD, CBG, THC and CBN), which often exhibit poor water solubility, low and variable bioavailability, and delayed onset of action. In preclinical pharmacokinetic studies, the PwdRx formulation demonstrated enhanced bioavailability and faster uptake compared to conventional medium-chain triglyceride (MCT) oil-based formulations. Recent in-vitro study of Avicanna's PwdRx technology demonstrated statistically significant results including 74% higher bioavailability (AUC), 63% faster peak plasma levels (TMAX) and a 134% higher peak plasma concentration (CMAX) when compared to MCT oil formulation. Comparative pharmacokinetic profile of cannabidiol in plasma following oral administration of Avicanna's proprietary technology (PwdRx, green) versus a standard MCT oil-based formulation (sCBD/MCT oil, blue) in a healthy invitro-model (n=16). The PwdRx formulation demonstrated significantly higher and faster absorption profile with increased AUX, reduced TMAX and greater CMAX (p). Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients' needs and enhance the medical cannabis patients' journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. Active pharmaceutical ingredients (Aureus Santa Marta™?): Active pharmaceutical ingredients supplied by the Company's majority owned subsidiary Santa Marta Golden Hemp SAS ("SMGH") is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company's supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. Annuncio • Sep 13
Avicanna Inc. Announces Chief Financial Officer Changes, Effective September 15, 2025 Avicanna Inc. announced Nick Hilborn, CPA, CA, Vice President of Finance, is appointed Interim Chief Financial Officer, following Phillip Cardella, CPA, CA, transition to consultant effective September 15, 2025. Nick has held roles of progressively increasing responsibility since he joined in 2024 and is familiar with the Company, the culture, and its people. Annuncio • Sep 03
Avicanna Latam SAS Teams Up with Harrington Wellness to Launch re+PLAY CBD Wellness Brand Topicals in the United States Avicanna LATAM SAS announced the launch of the re+PLAY CBD wellness brand with Harrington Wellness nationwide across the United States. re+PLAY is a CBD wellness brand built with collaborative effort from scientists, athletes, doctors, and certified athletic trainers. Avicanna LATAM SAS and Harrington Wellness have collaborated over several years on the research and development of these CBD-based topicals inspired by the athletic and sports community. These CBD-based topicals utilize Avicanna's proprietary and drug delivery systems, organic hemp derived cannabinoids and international manufacturing with the support of Harrington Wellness' deep understanding of professional athletes and their needs. Initial product offerings include a 3% CBD localized cream and the 2% CBD and 1% CBG transdermal gel utilizing Avicanna's patented deep tissue technology. The CBD and CBG used in the formulations were derived from USDA organic certified hemp cultivated in Avicanna's subsidiary Santa Marta Golden Hemp and manufactured by Avicanna LATAM SAS's team in Colombia. Annuncio • Jul 17
Avicanna Inc. announced that it has received CAD 1 million in funding Avicanna Inc. announces that it has closed a non-brokered private placement offering issued 4,000,000 units of the Company at a price of CAD 0.25 per Unit for gross proceeds of CAD 1,000,000 on July 16, 2025. Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company and, each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 0.30 per share, subject to adjustment in certain events, until July 16, 2028. Annuncio • Apr 29
Avicanna Inc., Annual General Meeting, Jun 30, 2025 Avicanna Inc., Annual General Meeting, Jun 30, 2025. Annuncio • Mar 18
Avicanna Inc. to Report Fiscal Year 2024 Results on Mar 31, 2025 Avicanna Inc. announced that they will report fiscal year 2024 results After-Market on Mar 31, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: CA$0.008 loss per share (vs CA$0.016 loss in 3Q 2023) Third quarter 2024 results: CA$0.008 loss per share (improved from CA$0.016 loss in 3Q 2023). Revenue: CA$6.27m (flat on 3Q 2023). Net loss: CA$786.4k (loss narrowed 45% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Annuncio • Nov 05
Avicanna Inc. announced that it has received CAD 0.80001 million in funding Avicanna Inc. announced a non-brokered private placement of 2,666,701 units at a price of CAD 0.30 per unit for aggregate gross proceeds of CAD 800,010 on November 4, 2024. Each unit is comprised of one common share and one-half of one common share purchase warrant, each warrant shall entitle the holder thereof to acquire one common share at an exercise price of CAD 0.40 per share, subject to adjustment in certain events, until November 4, 2027. The unit shares and warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable securities laws in Canada. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The company has paid an aggregate total of CAD 22,500 in cash finders' fees and issued an aggregate total of 75,000 finder's warrants in connection with the offering to certain finders in connection with subscriptions for units made by purchasers introduced to the company by such finders. Each finder warrant entitles the holder thereof to acquire one common share at an exercise price of CAD 0.40 per share, subject to adjustment in certain events, until November 4, 2027. Annuncio • Aug 29
Avicanna Inc. announced that it has received CAD 1.986208 million in funding Avicanna Inc. announces that it has closed a non-brokered private placement offering of 6,620,692 units of the Company at a price of CAD 0.30 per Unit for aggregate gross proceeds of CAD 1,986,208 on August 28, 2024. Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant of the Company and, each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 0.40 per share, subject to adjustment in certain events, until August 28, 2027. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. The Company has paid an aggregate total of CAD 58,503 in cash finders fees and issued an aggregate total of 195,010 finders warrants. Reported Earnings • Aug 16
Second quarter 2024 earnings released: CA$0.021 loss per share (vs CA$0.021 loss in 2Q 2023) Second quarter 2024 results: CA$0.021 loss per share (in line with 2Q 2023). Revenue: CA$6.12m (up 85% from 2Q 2023). Net loss: CA$1.95m (loss widened 11% from 2Q 2023). Annuncio • Jun 19
Avicanna Announces United States Patent and Trademark Office Issuance of Patent SEDDS Technology Avicanna Inc. announced the United States Patent and Trademark Office (“USPTO”) issuance of the Patent covering Avicanna’s SEDDS oral cannabinoid compositions and methods for treating neuropathic pain. Due to the highly lipophilic nature and poor water-solubility of cannabinoids, the formulations currently available in the Canadian market have been generally described as having poor absorption and high variability of onset. SEDDS oral delivery systems offer a route for non-invasive and non-inhalation administration of cannabinoids.1-4 Avicanna’s SEDDS technology demonstrated shelf-life stability with more than 90% of the total cannabinoid(s) remaining after 6 months in accelerated conditions. CBD and THC dissolution profiles were also tested in biorelevant media which mimic human intestinal fluid and demonstrated more than 90% dispersion within one hour with continued stabilization of the emulsion. Annuncio • Jun 05
Avicanna Inc., Annual General Meeting, Jul 10, 2024 Avicanna Inc., Annual General Meeting, Jul 10, 2024. Recent Insider Transactions • May 29
Insider recently bought €169k worth of stock On the 28th of May, Paul Fornazzari bought around 912k shares on-market at roughly €0.19 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €189k more in shares than they have sold in the last 12 months. Reported Earnings • May 15
First quarter 2024 earnings released: CA$0.011 loss per share (vs CA$0.033 loss in 1Q 2023) First quarter 2024 results: CA$0.011 loss per share (improved from CA$0.033 loss in 1Q 2023). Revenue: CA$6.45m (up 451% from 1Q 2023). Net loss: CA$1.02m (loss narrowed 59% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Annuncio • May 15
Avicanna Inc. Announces Results of Study in Patients with Epidermolysis Bullosa Avicanna Inc. announced the completion of the retrospective observational real-world evidence study (“Study”) using its RHO Phyto™ branded Ultra CBD Topical Cream on patients with epidermolysis bullosa (“EB”). The study was led by Elena Pope, MD, M.Sc., FRCPC, Head of Dermatology at The Hospital for Sick Children in Toronto and evaluated the tolerability and efficacy of RHO Phyto™ branded Ultra CBD Topical Cream in patients with epidermolysis bullosa. The retrospective cohort study evaluated the reported and documented responses related to wound healing, pain, and itch end points through images for study purposes to examine and evaluate the effect of RHO Phyto™ branded Ultra CBD Topical Cream on wound healing. The RHO Phyto™ branded Ultra CBD Topical Cream is an oil based 3% CBD localized cream developed to target dermatology conditions. The Study enrolled 20 patients (14 male patients and 6 female patients) with an average age of 17.3 years with various subtypes of epidermolysis bullosa including dystrophic (60%), simplex (30%) and junctional (10%). After one month of daily application of the 3% CBD Cream, 55% of patient reported improvements in wound healing while 45% displayed wound stability. Evaluation of self-reported itch and pain scores were reported in 65% and 50% of patients, respectively. Of the study participants evaluated, 45% continued to use treatment over 6 months. The study results will be presented at Avicanna’s symposium on May 13th by Dr. Camila Sofia Arriaga Egnen from The Hospital for Sick Children. Annuncio • Apr 19
Avicanna Inc. announced that it has received CAD 2.125584 million in funding Avicanna Inc. announced a non-brokered private placement offering of 5,313,959 units at a price of CAD 0.40 per unit for aggregate gross proceeds of approximately of CAD 2,125,583.6 on April 18, 2024. Each unit is comprised of one common share in the capital of the company and one-half of one common share purchase warrant of the company and each warrant shall entitle the holder thereof to acquire one common share in the capital of the company at an exercise price of CAD 0.55 per share, subject to adjustment in certain events, until April 18, 2027. The company has paid an aggregate total of CAD 31,499.98 in cash finders fees and issued an aggregate total of 78,750 finder's warrants in connection with the Offering to certain finders in connection with subscriptions for units made by purchasers introduced to the company by such finders. Each finder warrant entitles the holder thereof to acquire one common share in the capital of the company at an exercise price of CAD 0.55 per share, subject to adjustment in certain events, until April 18, 2027. The unit shares and warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable securities laws in Canada. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. Annuncio • Apr 10
Avicanna Inc. Announces Completion of Topical Gel Observational Real-World Evidence Study Avicanna Inc. announced the completion of its observational real-world evidence study using RHO Phyto branded cannabigerol transdermal gel on patients with musculoskeletal pain and inflammation. The RWE study evaluated patient-reported efficacy of the RHO Phyto CBG Transdermal Gel containing 2% cannabidiol and 1% CBG on a range of clinical conditions including arthritis, osteoarthritis, rheumatoid arthritis, fibromyalgia, muscle and joint pain, localized pain, muscular and structural injuries, and post-surgical pain. Seventy-one participants completed baseline testing and a follow up at one month including demographic, medical history, medication use and two standardized symptom questionnaires. The RWE study revealed a meaningful improvement in overall Musculoskeletal Health Questionnaire scores (p<0.001) as compared from baseline to one month. Specifically, there was a reported 35.4% improvement in health-related domains including symptoms, physical functioning, daily activities and work, physical well-being, and confidence to manage symptoms. In addition, evaluation of the Edmonton Symptom Assessment System questionnaire also revealed an improvement in pain, sleep, anxiety, and well-being symptoms from baseline to one month (p<0.001). The RWE study participants with an average age of 58 ± 15 (64% women) all presented with symptoms of chronic pain. According to ICD-10 diagnosis classification, 21.1% of participants had a diagnosis related to arthritis (polyarthritis, osteoarthritis, etc.), 17.5% of participants with a diagnosis of dorsalgia, 12.3% with fibromyalgia, and 8% with chronic intractable pain. Prior to initiation of the study, study participants reported they were taking an average of ten medications including NSAIDs, opioids, antidepressants, or skeletal muscle relaxants. Each RWE study participant was assigned a common treatment plan of a combination of a CBD oil (83.3%) or balance oil (16.7%) with the RHO Phyto CBG Transdermal Gel. Reported Earnings • Apr 03
Full year 2023 earnings released: CA$0.10 loss per share (vs CA$0.25 loss in FY 2022) Full year 2023 results: CA$0.10 loss per share (improved from CA$0.25 loss in FY 2022). Revenue: CA$16.8m (up 315% from FY 2022). Net loss: CA$8.74m (loss narrowed 41% from FY 2022). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Annuncio • Mar 28
Avicanna Inc Announces the Canadian Launch of 10% CBD (THC Free) Proprietary Formulation Avicanna Inc. announced the launch of RHO Phyto Micro Drop 100, a 10% CBD (THC free), proprietary oral formulation in Canada. RHO Phyto Micro Drop 100, is designed to deliver enhanced absorption of cannabinoids through an inverted emulsion technology. RHO Phyto Micro Drop 100 will be available to Canadian patients with medical authorization exclusively at the MyMedi.ca medical cannabis care platform. RHO Phyto Micro Drop 100 contains the same proprietary oral formulation as the product Trunerox™. Trunerox™ received drug approval in Colombia, earlier this year in February 2024, from the Colombian National Institute of Drug and Food Surveillance (El Instituto Nacional de Vigilancia de Medicamentos y Alimentos – INVIMA). Trunerox™ is approved by INVIMA in Colombia as a drug for the treatment for severe seizures related to Lennox-Gastaut Syndrome and Dravet Syndrome. Trunerox™ has not been approved as a drug in Canada by Health Canada. Annuncio • Mar 27
Avicanna Inc. to Report Fiscal Year 2023 Results on Apr 01, 2024 Avicanna Inc. announced that they will report fiscal year 2023 results at 4:00 PM, US Eastern Standard Time on Apr 01, 2024 Annuncio • Feb 15
Avicanna Inc. Obtains Its First Indication-Specific Drug Registration with Trunerox Avicanna Inc. announced the Company’s first indication-specific drug registration for Trunerox issued by INVIMA, the Health Authority of Colombia. The Trunerox drug approval (Registro Sanitario como medicamento) was issued by INVIMA, after a detailed process of verification of all legal, technical, and pharmacological requirements were fulfilled in accordance with Decree 677 of 1995 and other applicable regulations. The approval allows Avicanna to manufacture and commercialize Trunerox in Colombia with approved indications and claims associated to the treatment for seizures related to Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS). Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome (DS) are two of the various, rare epileptic disorders classified as epileptic encephalopathies. Trunerox is Avicanna’s proprietary oral formulation with 10% cannabidiol (CBD) and is manufactured with good manufacturing practices GMP at Altea Farmacéutica in Bogota, Colombia utilizing CBD manufactured at the Avicanna’s majority-owned subsidiary Santa Marta Golden Hemp SAS. Annuncio • Dec 05
Avicanna Inc. announced that it has received CAD 0.888128 million in funding Avicanna Inc. announced a non-brokered private placement to issue 2,537,508 units at an issue price of CAD 0.35 per share for the gross proceeds of CAD 888,127.80 on December 4, 2023. Each Unit is comprised of one common share and one-half of one common share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one common share at an exercise price of CAD 0.41 per share, subject to adjustment in certain events, until December 4, 2026. The Company has paid an aggregate total of CAD 29,977.50 in cash finders' fees and issued an aggregate total of 85,650 finder's warrants. In connection with the Offering to certain finders in connection with subscriptions for Units made by purchasers introduced to the Company by such finders. Each Finder Warrant entitles the holder thereof to acquire one common share in the capital of the Company at an exercise price of CAD 0.41 per share, subject to adjustment in certain events, until December 4, 2026. The Unit Shares and Warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable securities laws in Canada. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. Board Change • Nov 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Eileen McCormack was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 19
Third quarter 2023 earnings released: CA$0.016 loss per share (vs CA$0.048 loss in 3Q 2022) Third quarter 2023 results: CA$0.016 loss per share (improved from CA$0.048 loss in 3Q 2022). Revenue: CA$6.25m (up CA$5.48m from 3Q 2022). Net loss: CA$1.42m (loss narrowed 51% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Annuncio • Nov 14
Avicanna Announces Appointment of Paul Fornazzari to Board of Directors Avicanna Inc. announce the appointment of Paul Fornazzari to the board of directors. Paul Fornazzari is a business executive, securities lawyer, and board director with over twenty-five years of experience with growth-stage and established Canadian and international companies. Mr. Fornazzari is also a Partner focusing on Securities and Corporate Finance with Fasken Martineau DuMoulin (“Fasken”) one of Canada’s largest law firms with a well recognized domestic and international practice. In addition to English, Mr. Fornazzari is a fluent Spanish speaker from Latin America. Annuncio • Nov 02
Avicanna Inc. to Report Q3, 2023 Results on Nov 14, 2023 Avicanna Inc. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Annuncio • Oct 12
Avicanna Inc. Provides Update on the Successful Launch of MyMedi.ca Avicanna Inc. provided an update on the progress of its new cannabis care platform MyMedi.ca since its' successful launch nationwide in Canada on August 1, 2023. The Company update on the progress of itsnew medical cannabis care platform, MyMedi.ca, includes: Transition of over 96% of active patients from Medical Cannabis by Shoppers to MyMedi.ca and an increase of approximately 10% of net new medical patients since launch. Developed infrastructure to offer insurance reimbursement services for patients through several private insurance providers and public institutions including six provincial worker safety boards. Offer ongoing specialty care services for distinct patient groups and the opportunity to serve thousands of Canada's veterans with a dedicated program including robust adjudication services. An established network of over 50 specialized clinics and medical institutions representing more than 1,500 healthcare providers. Offer training, medical education, products and services, and resources to facilitate the incorporation of medical cannabis into health care regimens including the Company's own Avicenna Academy and the Canadian Consortium for the Investigation of Cannabinoid Syllabus. An opening portfolio of 200 products across 35 brands, expanding to 45 brands with more than 200 SKUs supplied by 15 Canadian licensed producers. Since launch, an increase in the Company's SKUs resulting in a proportional increase of 40% in sales realized through improved access, and inventory management efficiencies. Facilitation of transfer and advancement of the Company's previously announced real world evidence clinical studies, including the epidermolysis bullosa study in collaboration with the Hospital for Sick Children and musculoskeletal pain and inflammation study with Sante Cannabis, to MyMedi.ca. Enhanced operational efficiencies in reducing response time and expanding pharmacist-led, bilingual patient care services. Annuncio • Sep 02
Avicanna Inc. Announces Retirement of Chandra Panchal, PhD from the Board of Directors Avicanna Inc. announced that Chandra Panchal, PhD is retiring as Chairman of the Board of Directors and that it will initiate a search for a new director. Reported Earnings • Aug 17
Second quarter 2023 earnings released: CA$0.021 loss per share (vs CA$0.08 loss in 2Q 2022) Second quarter 2023 results: CA$0.021 loss per share (improved from CA$0.08 loss in 2Q 2022). Revenue: CA$3.31m (up 201% from 2Q 2022). Net loss: CA$1.76m (loss narrowed 60% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Annuncio • Aug 03
Avicanna Inc. announced that it has received CAD 1.455 million in funding Avicanna Inc. announced a non-brokered private placement to issue 1,455,000 debenture units at a price of CAD 1 per Unit, for aggregate gross proceeds of approximately CAD 1,455,000 on August 2, 2023. Each Unit consists of an aggregate of CAD 1 principal amount of secured subordinated debentures and 1 common share purchase warrant. The Debentures will mature one year following the closing of the transaction and are not convertible into equity securities of the Company. The Debentures will bear interest at a rate of 18% per annum until the Maturity Date. The Debentures are subject to a 2% administration fee. The Company may prepay the Debentures at any time prior to the Maturity Date subject to a one-time prepayment fee of 1.5% of the principal amount. The Debentures will rank pari passu in right of payment of principal with all other Debentures issued under the transaction and will be subordinated to the then currently outstanding convertible debentures issued on January 28, 2022, as amended on January 28, 2023. Each Warrant is exercisable into one common share at a price of CAD 0.35 per share for a period of three years from the closing of the transaction. All securities issued under the transaction, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX. Annuncio • Aug 02
Avicanna Inc. (TSX:AVCN) completed the acquisition of Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. Avicanna Inc. (TSX:AVCN) entered into definitive Asset Purchase Agreement to acquire Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. on May 25, 2023. As part of the Agreement’s terms, Avicanna will acquire specific assets of the Business, including inventory and equipment, for approximately CAD 2.6 million and will pay Shoppers an earn out, based on net revenues, for a period of two years. The transaction is expected to close on July 31, 2023.Avicanna Inc. (TSX:AVCN) completed the acquisition of Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. on August 1, 2023. Annuncio • May 30
Avicanna Inc. (TSX:AVCN) entered into definitive Asset Purchase Agreement to acquire Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. for CAD 2.6 million. Avicanna Inc. (TSX:AVCN) entered into definitive Asset Purchase Agreement to acquire Medical Cannabis by Shoppers Drug Mart Inc from Shoppers Drug Mart Inc. for CAD 2.6 million on May 29, 2023. As part of the Agreement’s terms, Avicanna will acquire specific assets of the Business, including inventory and equipment, for approximately $2.6M and will pay Shoppers an earn out, based on net revenues, for a period of two years. The transaction is expected to close on July 31, 2023. Reported Earnings • May 17
First quarter 2023 earnings released: CA$0.033 loss per share (vs CA$0.02 loss in 1Q 2022) First quarter 2023 results: CA$0.033 loss per share (further deteriorated from CA$0.02 loss in 1Q 2022). Revenue: CA$1.17m (up 13% from 1Q 2022). Net loss: CA$2.51m (loss widened 167% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 05
Insider recently bought €90k worth of stock On the 30th of December, Sheldon Inwentash bought around 335k shares on-market at roughly €0.27 per share. This transaction amounted to 7.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €388k. Insiders have collectively bought €493k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 27
Insider recently bought €388k worth of stock On the 25th of November, Sheldon Inwentash bought around 2m shares on-market at roughly €0.20 per share. This transaction amounted to 74% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €403k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 16
Third quarter 2022 earnings released: CA$0.048 loss per share (vs CA$0.065 loss in 3Q 2021) Third quarter 2022 results: CA$0.048 loss per share. Revenue: CA$771.3k (down 22% from 3Q 2021). Net loss: CA$2.89m (loss widened 8.2% from 3Q 2021). Reported Earnings • Nov 13
Third quarter 2022 earnings released: CA$0.048 loss per share (vs CA$0.065 loss in 3Q 2021) Third quarter 2022 results: CA$0.048 loss per share. Revenue: CA$771.3k (down 22% from 3Q 2021). Net loss: CA$2.89m (loss widened 8.2% from 3Q 2021). Reported Earnings • Aug 18
Second quarter 2022 earnings released: CA$0.08 loss per share (vs CA$0.067 loss in 2Q 2021) Second quarter 2022 results: CA$0.08 loss per share (down from CA$0.067 loss in 2Q 2021). Revenue: CA$1.10m (up 39% from 2Q 2021). Net loss: CA$4.36m (loss widened 58% from 2Q 2021). Breakeven Date Change • May 18
Forecast to breakeven in 2024 The analyst covering Avicanna expects the company to break even for the first time. New forecast suggests the company will make a profit of CA$700.0k in 2024. Average annual earnings growth of 79% is required to achieve expected profit on schedule. Reported Earnings • May 15
First quarter 2022 earnings released: CA$0.02 loss per share (vs CA$0.085 loss in 1Q 2021) First quarter 2022 results: CA$0.02 loss per share (up from CA$0.085 loss in 1Q 2021). Revenue: CA$1.04m (up 283% from 1Q 2021). Net loss: CA$939.1k (loss narrowed 70% from 1Q 2021). Over the next year, revenue is forecast to grow 162%, compared to a 6.2% growth forecast for the industry in Germany. Reported Earnings • Apr 02
Full year 2021 earnings released: CA$0.41 loss per share (vs CA$1.12 loss in FY 2020) Full year 2021 results: CA$0.41 loss per share (up from CA$1.12 loss in FY 2020). Revenue: CA$3.27m (up 108% from FY 2020). Net loss: CA$16.8m (loss narrowed 49% from FY 2020). Over the next year, revenue is forecast to grow 178%, compared to a 8.2% growth forecast for the pharmaceuticals industry in Germany. 
