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TORONTO, Aug. 23, 2019 /CNW/ -Avicanna Inc. ("Avicanna" or the "Company") (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that its subsidiary, Santa Marta Golden Hemp S.A.S. ("SMGH"), has completed its first export of purified cannabidiol ("CBD") from Colombia to Canada for research and development purposes.
Aras Azadian, Chief Executive Officer of Avicanna commented "We are thrilled to complete our first export and proud to be doing so into Canada. This is another validation of Avicanna's ability to execute on all of its verticals and demonstrates the success and advantage of Avicanna's cultivation infrastructure, extraction and purification capacity, and regulatory expertise."
Health Canada issued three authorizations to SMGH on June 28, 2019 to allow for the import of CBD isolates and cannabis resin into Canada from Colombia for scientific purposes. The CBD isolates cleared Colombian border procedures and were exported from Colombia on August 22, 2019.
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.