Avicanna Announces Revocation of Cease Trade Order
13 Septembre 2021 - 1:30PM
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 the failure-to-file cease trade order
(the "
CTO") issued by the Ontario Securities
Commission on June 11, 2021 has been revoked effective September
10, 2021.
The Company will work with the Toronto Stock
Exchange on a reinstatement of trading of its common shares, which
were suspended from trading on June 11, 2021 as a result of the
CTO.
The Company has filed the following periodic
disclosure documents, bringing its continuous disclosure record up
to date in accordance with applicable securities law:
- annual filings in respect of the
year ended December 31, 2020, consisting of audited annual
financial statements for the year ended December 31, 2020,
management’s discussion and analysis relating to the audited annual
financial statements for the year ended December 31, 2020, annual
information form for the year ended December 31, 2020 and
certification of the foregoing as required by National Instrument
52-109 - Certification of Disclosure in Issuers’ Annual and
Interim Filings (“NI 52-109”);
- interim filings in respect of the
period ended March 31, 2021, consisting of interim financial
statements for the period ended March 31, 2021, management’s
discussion and analysis relating to the interim financial
statements for the period ended March 31, 2021, and certification
of the foregoing as required by NI 52-109; and,
- interim filings in respect of the
period ended June 30, 2021, consisting of interim financial
statements for the period ended June 30, 2021, management’s
discussion and analysis relating to the interim financial
statements for the period ended June 30, 2021, and certification
of the foregoing as required by NI 52-109.
Investor Webinar
On Tuesday, September 14, 2021 at 2 pm
EDT, Avicanna’s CEO, Aras Azadian, will host an investor
webinar, providing the latest Company updates followed by a live
Q&A session. Register here: Avicanna Inc (TSX: AVCN) (OTCQX:
AVCNF) (FSE: 0NN) Investor Webinar Registration
(onlinexperiences.com)
About Avicanna
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 supply chain 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
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 10 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.
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit www.avicanna.com,
call 1-647-243-5283, or contact IR representative Iryna Zheliasko
by email at iryna@chfir.com or by phone at 416-868-1079 x 229.
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 press 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, and includes statements with respect to the
reinstatement of trading of the Company’s common shares on the
Exchange. Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management in light of management's experience and perception of
trends, current conditions and expected developments, as well as
other factors relevant in the circumstances, including assumptions
in respect of current and future market conditions, the current and
future regulatory environment; and the availability of licenses,
approvals and permits. 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 press 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.
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