Benzinga | Oct 22, 2021 07:34AM EDT

Avicanna Reports Completion Of Commercial Export Of CBD Isolate, CBD Full Spectrum Psychoactive Derivatives From Colombia To Chile

* The Cannabis Derivatives are derived from Avicanna's cultivation and extraction infrastructure in Santa Marta, Colombia designed to supply partner companies and the manufacture of Avicanna's own finished products.

TORONTO, Oct. 22, 2021 (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, through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. ("SMGH"), it has completed a commercial exports of CBD Isolate and CBD full spectrum psychoactive cannabis resin (the "Cannabis Derivatives") to a leading Chilean homeopathic and naturopathic pharmaceutical company.

The Cannabis Derivatives, branded as Aureus(tm), are cultivated, extracted, and manufactured by SMGH. In addition, for Avicanna's global input needs, SMGH also supplies other pharmaceutical and cosmetics companies with cannabinoids including CBD, THC, and rare cannabinoids such as CBG in addition to supplying global cultivation companies with standardized and feminized seeds. This new export to Chile is a recurring order and part of on-going relationship with an established homeopathic Chilean company.

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