- Avicanna (AVCN) completes its first commercial export of Aureus™ branded THC extracts to Austria and welcomes the Colombian government’s progressive new regulation on cannabis
- Additionally, it welcomes the new Colombian regulation aimed at progressing the cannabis industry and its commercialization processes
- This shipment marks the ninth country to which SMGH has exported the Aureus™ branded products
- The new regulatory framework is expected to have a positive impact on several segments of the cannabis industry in Colombia
- Avicanna’s supply chain business units are based out of Santa Marta, Colombia and are primarily dedicated to providing a consistent source of cannabinoid raw materials
- Avicanna (AVCN) is trading at C$1.08 as of June 11 at 3:56 pm ET
Avicanna (AVCN) has completed its first commercial export of high concentration THC full spectrum psychoactive cannabis extracts to Austria.
Additionally, it welcomes the new Colombian regulation aimed at progressing the cannabis industry and its commercialization processes which positively impacts several of Avicanna’s business units and infrastructure in Colombia.
This shipment marks the ninth country to which SMGH has exported the Aureus™ branded products, which include a range of CBD, THC and CBG extracts and feminized seeds.
Avicanna’s SVP, European Operations, Jens Kramer, commented,
“We are very happy to further progress our long-term strategy to expand our API business into the emerging European market.”
“With Avicanna’s dedication to quality standards and pharmaceutical positioning we are poised to be a significant long-term player in the European medical market that is predominantly focused on the medical utility of cannabinoids and where meeting EU pharmacopeia standards are essential,” added Kramer.
The improvements brought upon by this new regulatory framework are expected to have a positive impact in several segments of the cannabis industry in Colombia, and more specifically in several business units of Avicanna’s vertically integrated infrastructure in Colombia.
The increase in efficiency in the quota approval process for cultivation and manufacturing and the possibility to export cannabis dry flower is expected to enhance the market opportunity for Avicanna’s supply chain business under the Aureus™ brand that has been shipping cannabinoid extracts and feminized seeds into 4 continents from its Colombian base.
This will also potentially generate new demand for Avesta Genetica’s feminized seeds catalogue among the approximately 700 licensed cannabis cultivators in Colombia.
Creation of a new category of food products for B-B and finished products that can also benefit from Avicanna’s proprietary water-soluble and highly bio-available formulations.
The inclusion of drugstores as viable dispensation locations for cannabis compound formulas is expected to invigorate Avicanna’s current commercial compound pharmacy business unit by creating thousands of potential dispensation establishments.
Avicanna’s supply chain business units are based out of Santa Marta, Colombia and are primarily dedicated to providing a consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.
Avicanna (AVCN) is trading at C$1.08 as of June 11 at 3:56 pm ET.
