Avicanna Inc. ("Avicanna" or the "Company”) (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN), a Canadian biopharmaceutical company focused on
the development of plant-derived, cannabinoid-based products,
announced today the distribution of Viola cannabis products
across Canada on the Medical Cannabis by Shoppers online platform,
a subsidiary of Shoppers Drug Mart Inc.™, Canada’s leading
health, beauty, and convenience retailer. The well-established
equity focused brand will also be made available across adult use
channels including Ontario and New Brunswick
imminently.
Founded in 2011 by NBA veteran Al Harrington, Viola
is one of the leading producers and licensed wholesalers of premium
quality cannabis products in the United States with its footprint
across 4 States. Viola’s mission is to increase minority
representation and provide greater employment opportunities to
Black and other under-represented communities in the cannabis
industry. Viola cannabis products available at the Medical
Cannabis by Shoppers platform include THC and CBD offerings
starting with live terpene disposable vaporizers and extending into
other categories including 510 cartridges and concentrates.
"We’re excited to launch in Canada with our partner
Avicanna, who shares our vision to increase representation and
promote equity within the cannabis industry,” said Al Harrington,
Co-Founder and CEO, Viola Brands. “And look forward to having
Viola’s premium products available at Medical Cannabis by
Shoppers.”
"Today, Canada’s incredible diversity is not well
represented by existing brands and through this multi-layered
partnership with Viola we seek to fill that gap, bring some
much-needed minority representation and extend Al’s vision to
Canadian consumers,” said Aras Azadian, CEO, Avicanna Inc.
“Additionally, having Viola’s premium products launched in Canada
through our distribution agreement with Medical Cannabis by
Shoppers Drug Mart Inc.™ will be a huge win for Canadians as
the products will be available nationwide immediately.”
Canadians will now have access to Viola’s
award-winning cannabis products for the first time through a
national chain. Through the company’s multi-level partnership with
Viola, Avicanna is responsible for managing the overall
commercialization of all Viola-branded products in Canada through
its manufacturing, distribution, and sales infrastructure.
Additional Viola cannabis products will be available in several
provinces across adult-use channels offering multiple options for
consumption via a portfolio expansion expected by the end of 2021
with initial listings approved in New Brunswick and Ontario.
About ViolaFounded in 2011 by NBA
veteran Al Harrington, Viola is one of the nation’s leading
producers and licensed wholesalers of premium quality cannabis
products. The brand is named after and inspired by Al’s grandmother
who suffers from glaucoma and diabetes, finding solace in cannabis
remedies. Viola has integrated the latest cutting-edge technology
with its own proprietary procedures designed for every stage of the
cultivation, extraction and production process. The company is
known for its wide variety of product offerings, from high-quality
flower to premier butane extracts and operates in California,
Colorado, Michigan, Oregon, and Oklahoma.
Through education, equitable offerings,
expungement, and incubation programs, Viola’s mission is to
increase minority representation, facilitate community building and
provide greater employment opportunities to Black and other
minority communities in cannabis. Viola intends to expand the reach
of Viola into Canada with educational initiatives to increase the
awareness of safe cannabis use.
About Avicanna Inc.Avicanna is a
commercial stage Canadian biopharmaceutical company and an
established leader in cannabinoid research, development, and
evidence-based products for the global consumer, medical, and
pharmaceutical market segments. Avicanna conducts its research in
Canada including its R&D headquarters in the Johnson &
Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the
MaRS Discovery District, and in collaboration with leading Canadian
academic and medical institutions. Avicanna has established an
industry leading scientific platform including advanced R&D and
clinical development which has led to the commercialization of over
twenty products across four main market segments:
-
RHO Phyto™: these medical and wellness
products are an advanced line of pharmaceutical-grade cannabis
products containing varying ratios of CBD and THC. The product
portfolio contains a full formulary of products including oral,
sublingual, topical, and transdermal deliveries that have
controlled dosing, enhanced absorption and stability studies
supported by pre-clinical data. These products are developed using
pharmaceutical drug development processes and are supported with
pre-clinical data. The advanced formulary is marketed with
consumer, patient and medical community education and
training.
-
Pura H&W™: these registered, clinically
tested, cosmetic products include a portfolio of functional CBD
consumer derma-cosmetic and topical products.
-
Aureus™: as a part of Avicanna’s vertical
integration based out of Santa Marta, Colombia its raw material
business units are primarily dedicated to providing consistent
source of cannabinoid raw materials for Avicanna and its global
partner’s food, cosmetic, medical and pharmaceutical needs. Aureus
branded products are cultivated, extracted, and manufactured by
Avicanna’s subsidiaries in Colombia including SMGH which is GACP
and USDA organic certified and where they benefit from optimal
environmental conditions to produce cannabinoid active
pharmaceutical ingredients economically, organically, and
sustainably and include a range of CBD, THC and rare cannabinoids
such as CBG extracts and standardized seeds. Company is well
positioned to be a global supplier of cannabinoid raw materials
demand and has already successfully exported its products to over
11 countries in 4 continents.
-
Pharmaceutical
pipeline: leveraging from the
company’s scientific platform, vertical integration, and real-world
evidence, Avicanna has established a pipeline of indication
specific cannabinoid-based drug candidates that are in various
stages of clinical development and commercialization. Avicanna’s
drug candidates are in pre-clinical stage and are dedicated to
providing solutions for unmet medical needs in the areas of
dermatology, chronic pain and various neurological disorders.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, call 1-647-243-5283, or contact Ivana Maric by
email at info@avicanna.com.
The Company posts updates through videos from the
official company YouTube
channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements").
Forward-looking statements are frequently characterized by words
such as "plan", "continue", "expect", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These forward-looking
statements are only predictions. Various assumptions were used in
drawing the conclusions or making the projections contained in the
forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions, estimates and
assumptions of management in light of management's experience and
perception of historical trends, current conditions and expected
developments at the date the statements are made, such as current
and future market conditions, the current and future regulatory
environment and future approvals and permits. Forward-looking
statements are subject to a variety of risks, uncertainties and
other factors that management believes to be relevant and
reasonable in the circumstances could cause actual events, results,
level of activity, performance, prospects, opportunities or
achievements to differ materially from those projected in the
forward-looking statements, including general business and economic
conditions, changes in laws and regulations, product demand,
changes in prices of required commodities, competition, the effects
of and responses to the COVID-19 pandemic and other risks,
uncertainties and factors set out under the heading “Risk Factors”
in the Company’s annual information form dated April 15, 2020 (the
“AIF”) and filed with Canadian securities
regulators available on the Company’s issuer profile on SEDAR at
www.sedar.com. The Company cautions that the list of risks,
uncertainties and other factors described in the AIF is not
exhaustive and other factors could also adversely affect its
results. Readers are urged to consider the risks, uncertainties and
assumptions carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such information.
The Company is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable securities
laws.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e80cb62c-165b-4a5b-a93d-ca226109906c
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