- Avicanna (AVCN) has shipped its first batch of Aureus full-spectrum psychoactive CBD cannabis extracts to Brazil
- The company completed the 20 kg shipment through Colombian subsidiary Santa Marta Golden Hemp
- The product is related to Avicanna’s recent master supply agreement with a leading Brazilian pharmaceutical company
- Avicanna is focused on the research, development and commercialization of plant-derived cannabinoid-based products
- Avicanna (AVCN) is unchanged trading at $1.08 per share
Avicanna (AVCN) has shipped its first batch of Aureus full-spectrum psychoactive CBD cannabis extracts to Brazil.
The company completed the 20 kg shipment through its majority-owned Colombian subsidiary, Santa Marta Golden Hemp (SMGH).
The product is related to Avicanna’s recent master supply agreement through SMGH with a leading Brazilian pharmaceutical company.
This marks the 11th country to which Avicanna has successfully exported Aureus-branded products.
Brazil’s cannabis market is expected to grow to US$9 billion by 2025, according to Euromonitor International. This would make it one of the largest cannabis markets globally and the largest in Latin America, particularly for medicinal cannabis.
Lucas Nosiglia, President of Avicanna LATAM, commented,
“This export represents a key milestone for our team and a validation of our capabilities as we continue to lead the way with our products. The export to Brazil also confirms the regulatory pathway and acts as a proof of concept in the largest market in South America, where we aim to establish long-lasting supply relationships with our Brazilian pharmaceutical partners.”
Aureus offers standardized cannabis extracts and feminized seeds to cultivation, cosmetic and pharmaceutical partners around the world.
Avicanna is focused on the research, development and commercialization of plant-derived cannabinoid-based products.
Avicanna (AVCN) is unchanged trading at $1.08 per share as of 9:43 am ET.