Duyuru • 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. Duyuru • 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. Duyuru • Mar 02
Avicanna Inc., Annual General Meeting, Apr 30, 2026 Avicanna Inc., Annual General Meeting, Apr 30, 2026. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • Apr 29
Avicanna Inc., Annual General Meeting, Jun 30, 2025 Avicanna Inc., Annual General Meeting, Jun 30, 2025. Duyuru • 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 Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • Jun 05
Avicanna Inc., Annual General Meeting, Jul 10, 2024 Avicanna Inc., Annual General Meeting, Jul 10, 2024. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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 Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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 Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • 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. Duyuru • Feb 03
Avicanna Inc. Provides Consolidated Revenue Guidance for the Fourth Quarter, Full Year 2021 and Full Year 2022 Avicanna Inc. provided consolidated revenue guidance for the fourth quarter, full year 2021 and full year 2022. For the quarter, the company projected record revenue of $1.3 million, representing the fourth consecutive quarter over quarter increase of at least 30%.The company projected total fiscal 2021 revenue of $3.3 million, representing a 133% growth from $1.5 million in 2020.For the full year 2022, the company projected $9 million in consolidated revenue from global operations, which is expected to be led by the anticipated sales of approximately 300,000 units of proprietary cannabinoid-based products. Duyuru • Jan 30
Avicanna Inc. announced that it expects to receive CAD 1.3008 million in funding Avicanna Inc. announced a non-brokered private placement of 1,626 convertible debenture units at a price of CAD 800 per unit for gross proceeds of CAD 1,300,800 on January 28, 2022. Each unit consists of an aggregate of CAD 1,000 principal amount of secured subordinated convertible debentures and 545 common share purchase warrants. The debentures will mature one year following the closing of the offering. Each debenture shall be convertible at any time following the date that is six months from the closing of the offering, at the option of the holder, into common shares in the capital of the company at a price of CAD 1.20 per share, if converted between the period commencing six months from the closing of the offering and ending on the second business day prior to the
maturity date or CAD 0.85 per share, if converted anytime after the second business day prior to the maturity date. The debentures will not bear interest prior to the maturity date, after which they will bear interest at a rate of 15% per annum. Upon a change of control of the company, holders of debentures have the right to require the company to repurchase their debentures, in whole or in part, at a price equal to 105% of the principal amount of the debentures then outstanding. The company shall have the right at any time and from time to time during the period commencing on the date that is six months from the closing of the offering and the maturity date, to repay up to 50% of the principal amount of the then outstanding debentures. The debentures will rank pari passu in right of payment of principal with all other debentures issued under the offering and will be
subordinate to the company’s outstanding senior secured debt. Each warrant is exercisable into one common share in the capital of the Company at a price of CAD 1.10 per share for a period of three years from the closing of the offering. In connection with the offering, the company has granted to the subscribers of units a right to subscribe for and purchase additional units on substantially the same terms as the units issued pursuant to the offering if at any time it wishes to prepay the then outstanding senior debt, and desires to fund, in its sole discretion, such prepayment through the 2 issuance of such additional units or an event of default occurs in respect of the senior debt, in each case for the purpose of raising sufficient funds to prepay or repay, as applicable, the senior debt. The issuance of additional units shall be subject in all respects to the approval of the Toronto Stock Exchange and the terms thereof shall be substantially the same terms as the units issued pursuant to the offering. The offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX. All securities issued under the Offering, including securities issuable on conversion or exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. Duyuru • Dec 23
Avicanna Inc. Launches Its Clinically Backed CBD Derma-Cosmetics Brand, Pura H&W, in the United States in Partnership with Red White and Bloom Avicanna Inc. announced that the brand launch and commercialization of its proprietary and clinically backed derma-cosmetics brand, Pura H&W, through its exclusive partnership with Red White and Bloom. This marks the fourth country in which Avicanna’s derma-cosmetic products branded as Pura H&W or Pura Earth have commercialized, including Colombia and Ecuador as well as Canada where the products are available through medical and adult use channels. The U.S beauty industry continues to grow rapidly and innovative trends, such as the introduction of cannabinoid-based cosmetics, are expected to provide a strong market opportunity. The launch of the proprietary and clinically-backed cannabidiol (“CBD”) product line will leverage the growing use of online platforms for shopping including Pura H&W’s own e-commerce platform in addition to third party e-commerce channels, “big box” retailers and Red White and Bloom’s existing cannabis retail infrastructure across the United States. The skincare line includes seven topical SKUs, three of which are available for purchase online now and for more that are expected to be available imminently. Anti-Aging Serum: This emulsion gel combines CBD with stem cells from a rare variety of Swiss apple to deliver powerful ingredients to the skin. This refreshing and fast absorbing formula maximizes results for bouncy, glowing skin. Cooling Body Gel: This go-to essential combines CBD & cannabigerol (“CBG”) with menthol, clove oil and other unique ingredients and natural polyphenols in an advanced emulsion formulation. This non-greasy formula is ideal for those moments when customer need to cool and calm areas after physical activity. Brightening Facial Oil: Made with a blend of natural oils including CBD, Marula, Squalene, Pomegranate and Rosehip, this silky-smooth formula leaves skin looking dewy and revitalized. Light notes of vanilla and limonene refresh the senses. Anti-Aging Cream: Keeping the skin moisturized and locking in hydration, helps against environmental and natural stressors, and visibly enhances texture. This luxurious combination of CBD and Japanese cedar bud extract floods the skin with moisture to visibly improve natural lifting, toning and smoothing effects. Intensive Moisturizing Cream: With the hustle and bustle of everyday life, the skin is constantly under assault by stress, pollution, and the environment. These factors can trigger extreme effects which may include the appearance of redness and flaking. This rich combination of CBD and colloidal oatmeal helps soothe extremely dry skin. Clear Skin Gel: Skin problems due to routine breakouts affect almost all age groups and can occur when hair follicles become blocked by excess oil or dead skin cells. This formulation combining CBD with rosemary extract, tea tree oil and other key ingredients helps to remove oil and provide fresher looking skin. Skin Protecting Face Lotion (Night): its overnight cream combines CBD, pro-retinol, and vitamin E, which work together to hydrate the skin while user rest. This smooth formulation helps to boost customer skin’s radiance and reduces visible signs of aging. Duyuru • Dec 21
Avicanna and Harrington Wellness Launch Re+Play™ Branded Cbd Topicals Products in Canada Avicanna Inc. announced the launch of re+PLAY sports recovery-based CBD brand through partnership with Harrington Wellness, founded by NBA veteran Al Harrington. re+PLAY is a performance-based CBD wellness brand built with the fundamentals and combined knowledge of scientists, athletes, doctors, and certified athletic trainers. Avicanna and Harrington Wellness have worked together rigorously on the research, development, and optimization of these CBD-based topicals inspired by the athletic and sports community. These CBD-based topicals utilize Avicanna’s proprietary and evidence-based deep tissue technology for cannabinoid delivery and have been curated with the support of Harrington Wellness’ deep understanding of the needs of professional athletes. The products are now available across adult use channels in Alberta and expected to launch First Quarter 2022 in Ontario and other provinces. Additionally, the products will be made available to patients through medical channels in partnership with Medical Cannabis by Shoppers nationwide in early January as well. Muscle Rub - A water-based emulsion that combines 500 mg of pure Cannabidiol (CBD) with complementary natural active ingredients including menthol, camphor, and the terpene beta-caryophyllene. The intense formulation offers a warming sensation upon application and is formulated to enhance delivery into deeper layers of skin. Total Body Cream - A water-based emulsion that combines 250 mg of pure CBD with complementary natural active ingredients including menthol, beta-caryophyllene and eucalyptus essential oil for an immediate cooling sensation with a light scent. Foot + Ankle Cream - A rich cream that combines 500 mg of pure CBD with soothing colloidal oatmeal as well as antimicrobial tea tree and spearmint essential oils to provide a cool but gentle sensation on feet. This fast-absorbing, lightly scented cream is formulated to enhance delivery into deeper layers of skin. re+PLAY is a performance and recovery-based CBD brand that delivers the natural and powerful benefits of CBD through advanced formulations that have undergone extensive research and development to meet the quality and consistency standards that athletes and physicians can be confident in. The line is THC-Free and endorsed by doctors and used by both professional athletes and certified athletic trainers. re+PLAY was founded by NBA Veteran Al Harrington, renown trainer Joe Abunasser and Dr. Sanford Kunkel, the team physician for both the Indiana Pacers and the USA national basketball team. Duyuru • Dec 07
Avicanna Inc. Files Patent to Protect its Advanced Oral Cannabinoid Platform and its Applications for Neurological Diseases Avicanna Inc. announce that it has filed a provisional patent application in the United States Patent and Trademark Office for a novel oral cannabinoid technology (the “Formulation Candidates”), which is intended to be commercialized globally for medical and pharmaceutical applications including treatment of various neurological diseases and disorders. Oral administration of cannabinoids is the most convenient route for non-invasive drug delivery. However, due to the highly lipophilic nature and poor water-solubility of cannabinoids the elementary formulations currently available on the market generally have poor bioavailability and lack consistent drug delivery. Avicanna’s proprietary compositions have been specifically designed to alter the hydrophobic nature of cannabinoids, resulting in enhanced drug solubility which leads to better absorption and bioavailability either sublingually or orally, thereby increasing efficacy of cannabinoids. The patent application entitled "Oral cannabinoid compositions and methods of treating neurological diseases and disorders" claims formulations that have been developed through Avicanna's R&D platform utilizing the company’s proprietary self-emulsifying drug delivery systems (SEDDS) technology and include a range of drug delivery formats with varying release and absorption profiles including: Sustained and controlled release tablets – designed for linear release of the drug over time and thereby maximizing pharmacological properties and reducing side effects particular to cannabinoids. Oral capsules c self-emulsifying cannabinoid technology designed to enhance absorption through a fast and effective dispersion mechanism. Sublingual tablets – designed to provide rapid absorption of cannabinoids through the sublingual membrane to reduce first pass metabolism and provide a solution for acute symptom management and Water-soluble formulations – nano-emulsion technology designed for instant dispersion and dissolution of cannabinoids which can be utilized for convenient titration in drug delivery and beverages. Duyuru • Sep 25
Avicanna Files US Patent Application for a Novel Cannabinoid Formulation in Reducing Incidence of Seizures and Sudden Unexpected Death in Epilepsy Avicanna Inc. announced that it has filed a provisional patent application with the United States Patent and Trademark Office, entitled "Methods for Reducing or Eliminating Incidence of Seizures and Sudden Unexpected Death in Epilepsy", on the use of a novel cannabinoid formulation (the “Formulation Candidate”). The research findings originated from the ongoing multi-level cannabinoid-based collaboration with leading epilepsy researcher Dr. Peter Carlen at the world-renowned Krembil Research Institute at the University Health Network (“UHN”). Preliminary electrophysiological studies on seizure induced wildtype mouse cortical slices determined that treatment with the Formulation Candidate produced significant anti-convulsant effects as compared to treatment with cannabidiol (“CBD”) or tetrahydrocannabinol (“THC”) alone. These results, obtained in a well-established in vitro model, suggest that, in addition to anti-convulsant properties, the Formulation Candidate demonstrates strong potential to treat patients diagnosed with intractable forms of epilepsies and at risk of seizure-induced Sudden Unexpected Death in Epilepsy (“SUDEP”). Further studies on the mechanism of action of the cannabinoids in the Formulation Candidate confirmed that the cannabinoids acted as selective 5-HT1A receptor agonists similar to established 5-HT1A receptor agonists in seizure-like events. Avicanna intends to conduct in vivo studies in the coming months in order to formalize this provisional application. If granted, this patent application will provide Avicanna with protection on the use of the Formulation Candidate within a specified ratio of cannabinoids, alone or in combination with other anti-epileptic agents. Duyuru • Aug 20
Avicanna Inc. announced that it has received CAD 2.118 million in funding On August 19, 2021, Avicanna Inc. closed the transaction. Duyuru • Aug 05
Avicanna Inc. announced that it expects to receive CAD 2 million in funding Avicanna Inc. announced a private placement of secured debentures for gross proceeds of CAD 2,000,000 on August 3, 2021. The debentures bear an interest rate of 5% per annum subject to an increase to 18% per annum upon the occurrence of certain events of default and will mature on the date that is 14 months plus one day from the date of issuance. The debentures will issued at a 15% discount. The company will repay the face value of the debentures in 12 equal monthly installments beginning on the two-month anniversary of the issuance date thereof, with a right of prepayment in full, subject to the payment of interest that would have accrued had the debentures remained outstanding for the full 14 month term. The company will also issue warrants to investors. The common share purchase warrants will be transferable and entitle the holder to acquire one common share of the company for a period of 36 months. The exercise price of the warrants is proposed to be 125% of the five-day volume-weighted average trading price of the common shares on the Toronto Stock Exchange for a period of five trading days following the full revocation of the FFCTO, satisfaction of all additional conditions set by the TSX, and resumption of trading of the common shares on the TSX, subject to an upward adjustment in the event that such exercise price would otherwise result in the Investors holding warrants exercisable for such number of common shares representing more than 25% of the number of common shares outstanding, on a non-diluted basis, as at such date. The transaction is subjected to approval of the Toronto Stock Exchange. Duyuru • Jun 30
Avicanna and Bio-Gate Complete First Phase of Development on Cannabidiol (CBD) and Microsilver BG™ Based Skin Care Products for Global Commercialization Avicanna Inc. announced that the initial development phase for prospective products has been completed through a licensing and development agreement with Bio-Gate AG, a German bio-medical company with a focus on health technologies such as cosmetics and dermatology products. As part of the collaboration, Bio-Gate is developing active cosmetic and dermatology products, in collaboration with Avicanna, that combine MicroSilver BG™ and hemp derived CBD. Bio-Gate and Avicanna hope to discover that the combination of MicroSilver BG™ and hemp derived CBD will have synergistic anti-inflammatory and antibacterial effects. Following the development and in vitro studies, Bio-Gate and Avicanna aim to have the products available for human applications and further studies of target indications including acne, eczema, and atopic dermatitis. Avicanna and Bio-Gate intend to initially market the products in Europe and North America. Duyuru • Jun 16
Avicanna Inc. Expands The Canadian Rho Phyto Product Offerings with the Addition of THC-Free High CBD Oral and Sublingual Formulation Across Medical and Adult Use Channels Avicanna Inc. announced that two THC-free RHO Phyto™ products are available for purchase in Canada through the Medical Cannabis By Shoppers™ online portal and in Manitoba. The RHO Phyto Micro Drop Oil and Rapid Act Spray product lines are expanded to include THC-free products utilizing purified CBD from cannabis extracts that do not contain any detectable amounts of THC. All RHO Phyto products have been optimized to ensure shelf-life stability and provide accurate and consistent dosing over time. Additionally, these formulations are designed to provide higher and faster cannabinoid absorption compared to basic MCT (medium-chain triglyceride) oil products available in the market. The RHO Phyto Micro Drop Oils, offered in blood orange flavour, are designed for longer lasting effects, while the Rapid Act Sprays are offered in lemon mint flavour and faster acting for more acute effects. Benefits Of Pure CBD Product Offerings: THC-free cannabinoid products have long been advocated for by Health Care Providers as a potential alternative for individuals who should avoid THC. A recent Cannabis Consumer Report by Deloitte (the “Deloitte Report”) demonstrated that new cannabis consumers reported key drivers for using CBD-only products being sleep and relaxation (58%), and alleviating stress or anxiety (47%). Additionally, another 47% were interested in using for specific medical reasons. The Canadian Market Opportunity And Global Market Potential; Avicanna’s RHO Phyto products have had early success in both adult use and medical channels and the line extension that includes THC-free high CBD products further expands and now includes 7 SKUs in Canada. In parallel, patient and consumer interest for THC-free products and non-inhalable products continues to grow, the Deloitte Report found that 22% of returning and 39% of new consumers are interested in CBD only or THC-free products, while 30% of existing users cited lack of negative effects informing purchasing decisions.