The exclusive distribution agreement includes 5 SKUs from Pura H&W’s evidence-based derma-cosmetics portfolio

The products will be commercialized through Bio-Gate’s existing distribution channels with initial launches planned for Germany, Austria, and Switzerland in 2022

TORONTO, April 05, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it has expanded its previously announced R&D collaboration with Bio-Gate AG (“Bio-Gate”) with a 5-year exclusive distribution agreement for Pura H&W branded CBD derma-cosmetics.

Avicanna and Bio-Gate are expanding their existing research collaboration with the commercial distribution of Avicanna’s evidence-based derma-cosmetic line Pura H&W into the European Market. The initial focus of the launch is the German-speaking regions of the continent including Germany, Austria and Switzerland, where Bio-Gate has an established distribution network of pharmacies and retail channels. In addition, Bio-Gate has the right to select 3 additional European countries for exclusive distribution within the first 12 months of the agreement.

“We are very pleased to launch the Pura H&W product line from Avicanna, a leader in the cannabidiol (CBD) market, in the European market. We are convinced that the Pura product line is an ideal extension to our product portfolio for our dermatology division. We are looking forward to a successful cooperation,” commented Marc Lloret-Grau, CEO of Bio-Gate AG.

“We are thrilled to expand Pura H&W into the European market where we believe that it is well positioned as a clinically backed over the counter cosmetic line. We are also happy to be expanding our strategic partnership with Bio-Gate AG and accessing their experience and proven distribution channels in the region,” commented Aras Azadian, CEO, Avicanna.

With retail sales valued at EUR 76.7 billion in 2020¹, the European cosmetics and personal care market is the largest market for cosmetic products in the world. In Europe, Germany has the highest consumption value for beauty and personal care products and its per capita annual spending on cosmetics is relatively high at EUR 153/year, with high interest in premium cosmetics.

Pura H&W Portfolio for The European Union

The derma-cosmetic products are registered at the cosmetic products notification portal (CPNP) which allows them to be commercialized over the counter as cosmetic products in every jurisdiction within the European Union.

Derma-Cosmetic Clinical Studies

Three cosmetic clinical studies were completed on Avicanna’s Pura H&W formulations targeting cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients that were tested for safety and specific derma-cosmetic endpoints, including hydration and excess oil production. All three studies achieved positive results in the endpoints with no adverse effects, making Pura H&W one of the only cannabinoid consumer lines with human safety and efficacy data. For more information, please see www.Clinicaltrials.gov Registry.

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.

About Pura H&W

Pura Health & Wellness (Pura H&W) is Avicanna’s derma-cosmetic line which utilizes a combination of purified CBD and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura H&W product line was developed by Avicanna and specific products have undergone clinical trials. The products are now commercial under Pura H&W or Pura Earth in Canada, Colombia, Ecuador, the U.S.

The Pura H&W formulations have been developed and optimized to deliver purified, THC-free CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare. CBD has been shown to promote skin health by inducing antioxidant, anti-inflammatory, and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions such as eczema or atopic dermatitis. In addition, CBD can down-regulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin.

¹ Cosmetic Europe https://cosmeticseurope.eu/cosmetics-industry/

About Bio-Gate AG

Bio-Gate AG is a health technology company and a leading provider of innovative technologies and products for health, infection control and hygiene that can make living together safer and healthier, and improve the well-being of each individual. Bio-Gate specializes in providing materials and surfaces with antiviral, antimicrobial or biologically active properties. Bio-Gate AG enhances materials and products, particularly in the field of medical technology, for example in the coating of implants or wound dressings. In addition, Bio-Gate technologies are used in dermatological active cosmetics and wound care products, as well as consumer and industrial products.

About Avicanna Inc.

Avicanna is an innovative, commercial-stage, and international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based cannabinoid-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, The Company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development that has led to the commercialization of more than thirty products across four main market segments:

CBD Derma-Cosmetic Products: Marketed under the Pura H&W or Pura Earth brands, these registered, clinically tested, derma-cosmetic products include a portfolio of functional CBD topical products.

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto brand these medical and wellness products are an advanced line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“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. The advanced formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.

Cannabinoid Raw Materials: Marketed under the Aureus brand, the Company’s raw material business has successfully completed sales to 12 countries. Aureus offers cannabis dried flower, standardized seeds, full-spectrum extracts, and cannabinoid distillates, isolated cannabinoids such as CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids. Aureus products are produced at Santa Marta Golden Hemp S.A.S, the Company’s majority-owned subsidiary in Colombia, which is also GACP certified and has United States Department of Agriculture USDA National Organic Program certification for its hemp cultivar.

SOURCE Avicanna Inc.
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For more information about Avicanna, visit www.avicanna.com, contact Ivana Maric by email at [email protected] or follow us on social media on LinkedIn, Twitter, Facebook or Instagram.

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 contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related to anticipated financial and/or operational results and outlook, including projected revenues, projected sales growth, anticipated expansion of product listings, the Company’s anticipated application of its products, projected growth, anticipated geographical expansion, receipt of authorizations and regulatory approvals, success of clinical trials, scientific advancements and developments, successful commercialization of products, the Company’s our priorities, goals and strategies, industry trends and their anticipated impact, the anticipated impact of current market conditions on each of our segments and near term expectations, components and supply chain constraints, and the Company’s financial statement estimates and assumptions. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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Israel has long been recognized for its pioneering contributions to research in the medical cannabis field. Recently, the state made its commitment clear to develop the sector by issuing a white paper on the opportunity to invest in Israeli cannabis. That was followed by the largest medical-marijuana merger ever in the country, with Cannbit Pharmaceuticals buying Tikun Olam’s Israel operations for up to $41.5 million, as excitement percolates over the underserved domestic market and upcoming cannabis exports.

In April, the Israeli government became only the third country in the world to legalize medical cannabis exports with expectations for the framework to be in place in 2020. The country is following in the footsteps of Canada, which witnessed its medical marijuana exports triple in 2018.

A supportive government, a rich cannabis technology history, upcoming exports and nearly perfect climate for greenhouse cannabis cultivation were enough to incentivize Isracann Biosciences (CSE: IPOT) (OTC: ISCNF) to set up operations in Israel. Led by a management team that has decades of combined experience in the legal Canadian markets, Isracann is fully funded for a 230,000 square-foot facility in southern Israel with annual capacity up to 23,500 kilograms of dried cannabis flower.

Click Here To Receive Isracann’s Investor Presentation 

In the last week of November, Isracann management checked another box to move closer to construction of the facility.

Maintaining High Standards 

One of the benefits of maneuvering through cannabis legalization across Canada for the last decade is Isracann management knows to be meticulous in moving forward. To that point, the company retained the cannabis and agronomy experts at LinC, a unit of LinC Grow Smart Ltd, architecture firm AgroPlan Ltd.and security company A.R. Factor Group to ensure the planned facility is designed and built to meet or exceed the complete gamut of industry, regulatory and environmental standards.

With intentions to supply both the Israeli and European markets in the future, Isracann plans to secure Israeli Medical Cannabis Good Agricultural Practices (IMC-GAP), Israeli Medical Cannabis Good Security Practices (IMC-GSP) and European Union Good Manufacturing Practices (EU-GMP) certifications for its cultivation and post-production facilities. 

Moving Right Along

As should be expected, it’s a bit of a byzantine pathway to licensing and permitting a cannabis operation. With the help of LinC, AgroPlan and A.R. Factor, Isracann has expedited submissions to move forward with the facility, including submitting architectural, agronomic and security plans to the Israeli Land Authority about two weeks ago. 

Now the company has received the facility design and land use approvals from the Israeli Land Authority necessary for construction permitting and awarding building contracts for the first phase of the 230,000 square-foot facility. Isracann already vetted proposals from domestic and international companies bidding on the project. Approvals are pending from the Israeli Settlement Commissioner and the Israeli Ministry of Health in order to begin construction.

Click Here To Receive Isracann’s Investor Presentation

“With this approval in place we have met the initial hurdles regarding land use. Now, we can get started with the next step of getting shovels in the ground and begin building our business,” commented Isracann CEO Darryl Jones in a news release. 

The Facility

The plans call for the greenhouse to be built in Nir, Israel, a small cooperative agricultural community called a moshav. Phase I involves the fabrication of two greenhouses up to 57,500 square-feet each (for a total of 115,000 square feet) with estimated annual capacity of 5,750 kilograms (11,500 kg combined) of dried cannabis flower.

Each greenhouse will feature a highly ventilated framework with curtains on all four sides of the vaulted roof configuration. The roof design utilizes polyethylene sheets specifically installed for cannabis cultivation in Israel that maximizes the unique sunlight exposure in the country. Three types of fans will be used as part of the cooling and ventilation system to assist in optimizing temperature, humidity and radiation throughout the facility.

A packing facility includes a 6,500 square-foot post-harvest area with drying, curing and trimming rooms, as well as office space and a kitchen for employees. 

The entire facility will be secured by an 8’ tall fence with an electronic gate for vehicle access and a closed-circuit television system. 

Click Here To Receive Isracann’s Investor Presentation

To learn more about Isracann Biosciences Click Here

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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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