Avicanna Inc. to Host Third Quarter 2021 Investor Conference Call on November 12 and Announces Warrant Repricing
08 Novembre 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 it has
scheduled a conference call on Friday, November 12, 2021 at 8:30AM
Eastern Time to discuss the results of its fiscal third quarter
ended September 30, 2021 (“Q3 2021 Results”). Aras Azadian, Chief
Executive Officer, Dave Sohi, Chief Financial Officer, and Lucas
Nosiglia, President of LATAM will host the call and a question and
answer period. The Company will report its Q3 2021 Results before
the open of markets on Friday, November 12, 2021. The Company
further announces the finalization of the previously announced
Warrant Amendment (as defined below).
Conference Call Details
DATE: |
November 12,
2021 |
TIME: |
8:30 AM Eastern Time |
LINK: |
https://tinyurl.com/AVCNQ32021 |
Warrant RepricingOn October 19,
2021, the Company announced the proposed repricing of the exercise
price, subject to the approval of the Toronto Stock Exchange, of
1,589,098 common share purchase warrants expiring September 20,
2024 (the “Warrants”) from $1.13 to $1.10 per share (the “Warrant
Amendment”), which Warrants were issued to, and are held by, the
lender that advanced the secured term loan in the principal amount
of $2,118,000 to the Company in August 2021. The Warrant Amendment
was finalized and became effective as at the date hereof.
About Avicanna
Avicanna is a Canadian commercial-stage
biopharmaceutical company established in cannabinoid research,
development, and evidence-based products for the global consumer,
as well as medical and pharmaceutical market segments. In
leading global cannabinoid advancements, Avicanna conducts most of
its research in Canada at its R&D headquarters in the Johnson
& Johnson Innovation Centre, JLABS @ Toronto, located in
the MaRS Discovery District. 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 which has led to the commercialization of over twenty
products across four main market segments:
- Medical Cannabis &
Wellness Products: Marketed under the
RHO Phyto™ brand, or Magisterial Preparations,
these medical and wellness products are an advanced line
of pharmaceutical-grade cannabis 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. Avicanna’s medical and
wellness product portfolio also forms the foundation
of the Company’s pharmaceutical pipeline with the contribution
of the formulations that form the basis of the products as
well as the data generated from sales and participation of the
products in real world evidence studies.
- CBD Derma-Cosmetic Products: Marketed under the Pura
H&W™ or Pura Earth™ brands, these registered,
clinically tested, dermacosmetic products include a
portfolio of functional CBD topical products.
- Pharmaceutical Pipeline:
Leveraging Avicanna’s scientific platform, vertical
integration, and real-world evidence, Avicanna has created a
pipeline of patent-pending drug candidates which
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 drug registration stage in South
America.
- Cannabis Raw Materials, Seeds, and Bulk
Formulations: Marketed under the
Aureus™ brand, the Company’s raw material
business has successfully completed sales to 11
countries. Aureus offers cannabis dried
flower, standardized seeds, full spectrum
extracts, and cannabinoid
distillates, and isolated cannabinoids (CBD, THC,
cannabigerol (“CBG”) and other rare cannabinoids), and bulk
formulations derived from hemp and cannabis cultivars through
its sustainable, economical, and industrial-scale subsidiaries
based in Colombia. Majority of the Aureus products are produced at
SMGH, the company’s majority- owned subsidiary which is
also Good Agricultural and Collection
Practices (“GACP”) and USDA organic
certified.
SOURCE Avicanna Inc.
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 September 3, 2021
(the “AIF”) and final short form prospectus dated
November 27, 2020, 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.
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