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TORONTO, Feb. 6, 2020 /CNW/ - Avicanna Inc. ("Avicanna" or the "Company") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that it has been rated the highest amongst global cannabis companies participating in the SAM Corporate Sustainability Assessment (CSA).
The SAM Corporate Sustainability Assessment (CSA), established by RobecoSAM, is now issued by S&P Global. RobecoSAM, an asset manager focused entirely on sustainable investing, established the CSA in 1999. The CSA has become the basis for numerous S&P ESG Indices over the last two decades attracting billions of dollars in assets. This sustainability index family is among the most prestigious benchmarks for investors who recognize sustainability as the key engine of business models to generate long-term shareholder value and have a positive impact on their investments.
The 2020 Sustainability Yearbook that was published on January 30th by S&P Global, showcases the sustainability performance of some of the world's largest companies. As an emerging segment, there were only a handful of companies assessed from the cannabis sector, however, Avicanna obtained the highest score out of all cannabis companies evaluated. With this achievement, Avicanna is proving its commitment to corporate governance, sustainable and responsible practices in the cannabinoid space.
"This year's score will serve as a baseline for Avicanna as we intend to fulfill our vision of being a responsible and sustainable global company. In addition, we believe our score further validates our leadership position on that vision in the industry," stated Aras Azadian, Avicanna's Chief Executive Officer.
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.