Pura Earth derma-cosmetics available in approximately 59 retail locations throughout Colombia, including Blind prestige beauty shops and Cromantic professional beauty markets
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TORONTO, Oct. 21, 2019 /CNW/ - Avicanna Inc. ("Avicanna" or the "Company") (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce the retail launch of its Pura Earth™ derma-cosmetics line of CBD products, which are now available at approximately 59 high-end retail locations throughout Colombia, including Blind prestige beauty shops and Cromantic professional beauty markets.
Avicanna's Anti-Aging Treatment, Anti-Aging Serum, Clear Skin Treatment and Intensive Skin Conditioning Treatment, which are the first four of the nine Pura Earth product lines, are currently available at retail. Additionally the Pura Earth line will be offered on e-commerce platforms, including Percos, Cormantic, and Blind, as well as Avicanna's own platform, which is currently dedicated to Pura Earth.
The registration of the Pura Earth products as final products in Colombia will enable Avicanna to export such products into international jurisdictions that permit such products. Avicanna expects to launch the Pura Earth brand in additional international jurisdictions in early-2020.
The Pura Earth products were produced with Avicanna's proprietary formulations using cannabidiol ("CBD") isolate extracted by the Company's majority owned subsidiary, Santa Marta Golden Hemp S.A.S. ("SMGH"), from cannabis grown and cultivated by SMGH in Santa Marta, Colombia. SMGH's CBD isolate is derived from its USDA organic certified hemp (non-psychoactive cannabis). Additionally, the Pura Earth products will be supported by clinical data from studies conducted by the Centro de Atención e Investigación Médica CAIMED S.A.S. in collaboration with Avicanna.
"We are thrilled to start offering customers the world's first premium CBD skin care line with advanced formulations and substantiated claims through clinical evidence. The initial launch of Pura Earth in Colombia at these prestige beauty retailers is just the beginning of our global commercial strategy. Our vertically integrated operations have the scalability to support manufacturing a full range of premium CBD products and supply the global marketplace," stated Aras Azadian, Avicanna's Chief Executive Officer.
Colombia is one of the top four cosmetics markets in Latin America showing high growth rate in the cosmetics industry. The Latin America cosmetics industry is continuously expanding and has placed itself as one of the fastest growing and most vibrant cosmetic markets across the world. As per Goldstein Research, Latin America cosmetics market has reached a value of USD $31.98 billion in 2017 and is anticipated to grow at a CAGR of 4.49% during the forecast period 2017-2025.
About Pura Earth
Pura Earth is Avicanna's derma-cosmetic line which utilizes a combination of purified cannabidiol (CBD) and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura Earth products are formulated with CBD cultivated under organic and sustainable conditions by Avicanna's subsidiary in Santa Marta, Colombia in the foothills of the Sierra Nevada Mountains. The Pura Earth product line was designed by Avicanna and optimized in partnership with the University of Toronto using Avicanna's proprietary formulations. The Pura Earth product line is manufactured by Altea Farmaceutica S.A. ("Altea") under Good Manufacturing Practices standards. In addition, Centro de Atención e Investigación Médica CAIMED S.A.S. is currently completing clinical studies on selected Pura Earth products in order to demonstrate their effectiveness with specific cosmetic endpoints, such as reduction of fine lines associated with aging, efficacy as a moisturizer for eczema prone skin, and reduction of sebum and redness attributed to acne.
Avicanna is an Ontario corporation focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.
Avicanna's two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna's cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).
Avicanna's research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna's scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.
Avicanna's research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.
Cautionary Note Regarding Forward-Looking Information and Statements
Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the offering of the Pura Earth products on e-commerce platforms, the exportation of the Pura Earth Products into international jurisdictions, the expected launch date of the Pura Earth products internationally and the expected results of the clinical data supporting the Pura Earth products. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading "Risk Factors" in the Company's long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.
SOURCE Avicanna Inc.