Record revenue and gross profits driven by Canadian commercial growth and proprietary product expansion
Continued advancement of pharmaceutical pipeline, medical affairs initiatives and international platform

TORONTO, May 14, 2026 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce its financial results for Q1 2026, including the related financial statements and management’s discussion and analysis.

“The first quarter of 2026 reflects continued execution across Avicanna’s integrated commercial and pharmaceutical pipeline. We delivered record quarterly revenue, gross profit and gross margins, driven by sustained growth in Canada, expansion of our proprietary product portfolio and continued momentum through MyMedi.ca. At the same time, we continued advancing the long-term foundations of the business through international commercial activities, clinical development initiatives and ongoing investment in our pharmaceutical pipeline. We believe the quarter demonstrates the increasing operational leverage of our platform and the growing alignment between our commercial execution and scientific strategy” stated Aras Azadian, CEO at Avicanna Inc.

Q1 2026 Financial Highlights:

• Revenue: Revenue for the first quarter of 2026 was $6.68 million, representing the highest quarterly revenue in the Company’s history and an increase of approximately 6% compared to the first quarter of 2025. Revenue growth was primarily driven by an 11% increase in MyMedi.ca revenue and a 24% increase in product sales in Canada compared to the same period in 2025.
• Gross Profit: The Company achieved gross profit of $3.84 million during the first quarter of 2026, representing a 7% year-over-year increase. Consolidated gross margin improved to 58%, compared to 57% during the comparative period. The Company delivered record gross margins despite a revenue mix shift from higher-margin licensing and services revenue toward product sales during the quarter.
• Adjusted EBITDA: The Company reported an adjusted EBITDA loss of $0.15 million during the quarter, compared to adjusted EBITDA income of $0.43 million during the comparative period. The decrease in adjusted EBITDA was primarily attributable to a revenue mix shift from licensing revenue to product sales and increased SG&A expenses associated with strategic growth initiatives and corporate activities during the period
• Working Capital: The Company reduced its working capital deficit by $0.96 million to $0.32 million, compared to a deficit of $1.28 million during the comparative period. During the quarter, the Company utilized working capital to reduce accounts payable and support inventory growth associated with commercial expansion
  
  

Q1 2026 Corporate Highlights:

• Canadian Commercial Growth: During Q1 2026, MyMedi.ca delivered its fourth consecutive quarter of growth while the Company continued expanding its Canadian commercial platform through additional SKUs, channels, and product listings. The quarter marked the highest unit sales on record for MyMedi.ca, with 220,246 units sold compared to 195,705 units sold during the first quarter of 2025. Sales of Avicanna-branded products through MyMedi.ca increased from 19,662 units in the first quarter of 2025 to 27,960 units in the first quarter of 2026, representing a 42% increase and continued growth in the contribution of proprietary products across the platform. Across all Canadian commercial channels, including MyMedi.ca, Avicanna-branded product unit sales increased from 36,624 units to 45,419 units, representing 24% year-over-year growth. At the end of the quarter, the Company had 52 commercial SKUs and 170 commercial listings across medical and adult-use channels, representing 24% growth in proprietary commercial SKUs and 26% growth in total listings compared to the first quarter of 2025.
• Medical Cannabis Real World Evidence Results and Publication in the Canadian Journal of Pain: The investigator-led Medical Cannabis Real-World Evidence study that was conducted through the MyMedi.ca platform was led Dr. Hance Clarke, Director of Pain Services at University Health Network, and has been published in the peer-reviewed Canadian Journal of Pain. The prospective, observational study evaluated patient-reported outcomes among individuals with chronic pain receiving physician-authorized medical cannabis in routine clinical practice. The observational results demonstrated statistically significant improvements from baseline in measures of pain interference and pain intensity, as well as improvements in validated measures of anxiety, depressive symptoms, and overall quality of life over the 24-week observation period.
• Initiation of a Phase I Dose Finding Clinical Trial with University of Calgary: The randomized controlled trial will evaluate dose-dependent effects of oral THC on anxiety and stress using Avicanna’s proprietary capsules. The trial is led by Dr. Leah Mayo, Assistant Professor, and supported by Dr. Matthew Hill, Professor at the University of Calgary. Primary endpoints focus on validated psychometric assessments of anxiety and subjective response. Secondary endpoints include measures of mood and intoxication, cardiovascular parameters, circulating stress biomarkers, endocannabinoid system markers, and pharmacokinetic profiling. The trial is designed to generate high resolution dose response data to better define the therapeutic window of oral THC and to characterize interindividual variability in response. The trial utilizes Avicanna’s proprietary AVCN319301b THC capsules which utilize the Company’s Solid Self-Emulsifying Drug Delivery System.
• Avicanna Subsidiary SMGH Completed First Commercial Export to Australia: Avicanna’s majority own subsidiary Santa Marta Golden Hemp SAS (SMGH) export to Australia marked the first commercial export of organic certified flower for SMGH, the 21^st market for SMGH and 24^th market for all Avicanna products. The export followed successful improvements in process development, infrastructure, and quality systems that took place at SMGH and validate its competitive position to produce consistent, standardized cannabis flower at commercial scale, with a focus on cannabinoid-specific chemotypes, traceability, and compliance with Good Agricultural and Collection Practices and organic certification standards.
  
  

Subsequent to Q1 2026 Highlights

• Board of Directors Changes: Earlier in 2026, the Company underwent evolutionary changes to its Board of Directors through the appointment and re-election of two new, and election of one new, global business leaders with experience spanning capital markets, governance, regulated industries, international commercialization, and pharmaceutical operations. Michael Kott was appointed in January 2026, bringing in more than 35 years of experience in international capital markets, corporate finance, governance, and cross-border investments. Ozgur Kilic was appointed in April 2026, with more than 20 years of senior executive experience across global pharmaceutical companies and private equity-backed healthcare businesses, including leadership roles as Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer across multiple international markets. Lisa McCormack was elected by the shareholders in May 2026, with over 25 years of leadership experience in regulated industries, including Founder and Chief Executive Officer of Northern Green Canada.
• Avicanna Welcomed Initial U.S. Rescheduling of Medical Cannabis & Provided Strategic Update: U.S. rescheduling of medical cannabis from Schedule I to Schedule III aligns with Avicanna’s established pharmaceutical and medical cannabis strategy and supports advancement of R&D, clinical development, and medical affairs initiatives. Avicanna will continue to monitor regulatory developments and assess pathways to leverage its scientific platform, proprietary formulations, and clinical data in support of future U.S. market entry, with a focus on pharmaceutical development and FDA-aligned pathways, evidence-driven and Federal or State level medical cannabis models and strategic partnerships and licensing opportunities.
• Avicanna Announced Agenda for 6^th Annual Clinical Symposium on Cannabinoid Therapeutics: The established forum for evidence-based clinical discussion, interdisciplinary dialogue, and patient considerations is expanded from one day to two days, and offered both live and virtually on June 11-12, 2026, at the MaRS Discovery District, Toronto, Ontario Canada. Researchers, industry professionals, and healthcare practitioners internationally will convene with an expanded agenda including new research findings, case-based clinical discussions, and multidisciplinary panels focused on prescribing practices, treatment planning, and patient management. The program reflects ongoing developments in cannabinoid-based therapies and its increasing integration into clinical practice, alongside recognition of existing evidence gaps and variability in clinical guidance.
  
  

Stay Connected

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.

TORONTO, May 08, 2026 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce that all of management’s nominees listed in the Company’s management information circular dated April 2, 2026 (“Circular”) were elected as directors of the Company at its Annual General and Special Meeting of Shareholders held May 7, 2026 (“Meeting”).

Detailed results of the vote for the election of directors held at the Meeting are set out below:

At the Meeting, the Company’s shareholders also approved: (i) fixing the number of directors for the ensuing year at five and empowering the board of directors of the Company to adjust such number between shareholder meetings by way of resolution in accordance with the Company’s constating documents; (ii) the reappointment of Ramirez Jimenez International CPAs, as the Company’s auditors for the ensuing year and authorized the board of directors to fix the auditors’ remuneration; and (iii) the unallocated awards and ratification awards under the Company’s Omnibus Long-Term Incentive Plan, the full text of which was set forth in the Circular.

About Avicanna:

Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.

• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.

• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.

• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.

SOURCE Avicanna Inc.

Stay Connected 

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com. 

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.

TORONTO, May 01, 2026 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is announces that Eileen McCormack, who was not on the slate of directors for re-election or election as outlined in the circular at the upcoming annual general and special meeting of shareholders scheduled for Thursday May 7, 2026, has tendered her resignation as a member of the board of directors effective Friday May 1, 2026 ahead of the annual general and special meeting of shareholders.

About Avicanna:

Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
  
  
• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
  
  
• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
  
  
• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.
  
  

SOURCE Avicanna Inc. 

Stay Connected 

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com. 

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.

Rescheduling aligns with Avicanna’s established pharmaceutical and medical cannabis strategy
Rescheduling further supports advancement of R&D, clinical development, and medical affairs initiatives

TORONTO, April 28, 2026 (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, applauds the announcement by the U.S. Department of Justice and U.S. Drug Enforcement Administration to reschedule certain cannabinoid-based products from Schedule I to Schedule III under the U.S. federal Controlled Substances Act, in furtherance of President Trumps Executive Order of December 18, 2025. The Company applauds this development as a meaningful step towards advancing scientific research, improving regulatory clarity, and expanding patient access. The Company is pleased to provide an update of its scientific, R&D, clinical development, and medical affairs initiatives and programs, while continuing to evaluate strategic opportunities in the U.S.

Management Commentary

“We are encouraged by actions and announcements of the current U.S. Administration toward a more evidence-based and pragmatic framework for cannabinoid-based products” said Aras Azadian, Chief Executive Officer of Avicanna. “This milestone reinforces the importance of rigorous scientific development and aligns closely with Avicanna’s long-standing strategy of advancing pharmaceutical-grade cannabinoid products alongside standardized medical cannabis platforms. As the regulatory landscape evolves, we believe Avicanna is well positioned to leverage its intellectual property portfolio, pipeline, and vertically integrated capabilities to support our strategic roadmap toward participation in the U.S.”

Scientific and Medical Highlights (2026 YTD)

Clinical Development:

Avicanna continues to advance a robust clinical development strategy supported by both real-world evidence and randomized controlled trials.

• An ongoing real-world evidence study evaluating physician-authorized medical cannabis has published findings demonstrating improvements in pain-related outcomes, mental health measures, and quality of life (Canadian Journal of Pain).
• Initiation of a Phase I randomized, double-blind, placebo-controlled dose-finding study in collaboration with the University of Calgary’s Cumming School of Medicine, evaluating dose-dependent effects of oral THC on anxiety and stress using Avicanna’s proprietary capsule formulations.
• Progress in a previously announced Phase II randomized controlled trial evaluating cannabinoid-based formulations for arthritic pain, initial patient enrollment commenced in early 2026.

Research & Development

The Company continues to make meaningful progress across its proprietary R&D pipeline. Continued advancement, commercialization, and optimization of Avicanna’s proprietary delivery technologies, including the QUIX™ rapid onset nanotechnology platform, supporting both pharmaceutical and medical cannabis applications.

Medical Affairs and Scientific Engagement

Avicanna continues to expand engagement with healthcare professionals through targeted education and collaboration, including the growth of Avicenna Academy, which supports evidence-based clinical decision-making, alongside the MyMedi.ca platform, which enhances patient access through pharmacist-led support programs, reimbursement initiatives, and specialized care pathways. The Company recently announced its 6^th Annual Clinical Symposium on Cannabinoid Therapeutics, a leading forum for clinical dialogue, patient outcomes, and emerging therapeutic applications, to be held in an expanded two-day format, both in-person and virtually, bringing together clinicians, researchers, and key stakeholders.

Strategic Outlook

The evolving U.S. regulatory framework represents a significant milestone in the integration of cannabinoid-based therapeutics within a pharmaceutical framework. Avicanna will continue to monitor regulatory developments and assess pathways to leverage its scientific platform, proprietary formulations, and clinical data in support of future U.S. market entry, with a focus on:

• Pharmaceutical development and FDA-aligned pathways including clinical development in the US
• Evidence-driven and Federal or State level medical cannabis models
• Strategic partnerships and licensing opportunities

About Avicanna Inc

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
  
  
• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
  
  
• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
  
  
• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.

SOURCE Avicanna Inc. 

Stay Connected

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com. 

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.

TORONTO, April 21, 2026 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce that as previously disclosed its annual general and special meeting of shareholders will be held virtually on Thursday, May 7, 2026 at 11:30 AM (Toronto Time).   

Materials for the meeting will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on its website at https://ir.avicanna.com/ir/annual-general-meeting/, on or about April 16, 2026, with Proxy Cut-Off May 5, 2026 at 11:30 AM (Toronto Time).  

About Avicanna: 

Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products. 

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. 

• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. 

• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. 

• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. 

SOURCE Avicanna Inc.  

Stay Connected  

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.  

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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. 

TORONTO, April 20, 2026 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products will host its 6th annual clinical symposium on Cannabinoid-based Therapeutics – “From Emerging Evidence to Clinical Practice” on June 11-12, 2026 at the MaRS Discovery District, Toronto.  

 

Researchers, industry professionals, and healthcare practitioners from across Canada and internationally will convene for an expanded two-day program focused on current evidence and clinical considerations in cannabinoid therapeutics. Over successive years, the symposium has brought together various physicians, researchers, pharmacists, and healthcare professionals from academic and clinical settings to support clinical dialogue and research exchange related to patient care. 

The 2026 symposium will feature an expanded agenda including new research findings, case-based clinical discussions, and multidisciplinary panels focused on prescribing practices, treatment planning, and patient management. The program reflects ongoing interest in the integration of cannabinoid-based therapies into clinical practice, alongside recognition of existing evidence gaps and variability in clinical guidance. Speakers will include clinicians and researchers representing disciplines such as primary care, pain management, neurology and psychiatry across various therapeutic needs and patient populations. 

“This symposium provides clinicians and researchers an opportunity to review emerging evidence, share real-world clinical experience, and examine the role of cannabinoid-based therapies in patient care” said Karolina Urban, Executive Vice President of Medical Affairs at Avicanna. “This year’s program places a deliberate focus on areas that are often underrepresented, including women’s health, evidence-informed care for veterans, and the translation of research into practical clinical decision making.”  

In addition to live sessions, this event will be recorded and made available through the Avicenna Academy, our growing library of clinical resources, recorded lectures, and educational materials designed to support. 

Healthcare professionals interested in attending or showcasing their research at the symposium are invited to register online or submit posters for consideration by the organizing committee. 

 

 

Speaker	Topic
Dr. James MacKillop, PhD, CPsych, FCAHS McMaster University, St. Joseph’s Healthcare Hamilton	State of the evidence for medical cannabis in Canada
Dr. Daniel Bear, PhD Humber Polytechnic	Symptoms & Science: What we know about cannabinoids, where evidence is lacking, and why absence of evidence isn’t evidence of absence.
Dr. Evan Lewis, MD, FRCPC University of Toronto, Pediatrics	Clinical Workshop: Prescribing medical cannabis — practical approaches to initiation, titration, and patient management
Dr. Matthew Hill, PhD University of Calgary	Neurobiology, hyperarousal, and clinical considerations
Dr. Zachary Walsh, PhD, RPsych University of British Columbia	Clinical evidence for harm reduction and substitution
TBD – Veterans & Veteran Support Groups	Veteran and patient perspectives — clinical needs, outcomes, and barriers to care
Dr. Hance Clarke, MD, PhD, FRCPC Toronto General Hospital, University Health Network	Evidence from RWE study and next steps in pain-related medical cannabis prescription.
Dr. Elizabeth Thompson, PhD, MSc University of Saskatchewan	Brain injury, cannabinoids, and the endocannabinoid system
Michael Koehn, MACP, RCC, CHPC Cannsolve	The Maverick Medical Cannabis Project: Insights and implementation of a novel intervention for the overdose crisis.
Dr. Dilshaan Panjwani, MD BC Cancer	Medical Cannabis Extracts for Cancer-Related Symptoms: Results of an innovative n-of-1 clinical trial
Erin Mignault, NP, MSc June Health, KixCare, Care2Talk Health	Clinical Workshop on Women’s Health: Menopause — pathophysiology and the role of cannabinoid-based therapies
Dr. Luiza Marouelli, MD, OB-GYN Sante Cannabis	Cannabinoids in Gynecologic Care: Real-World Applications and Clinical Experience

 

About the Symposium 

The Annual Clinical Symposium on Cannabinoid Therapeutics is a national scientific forum dedicated to advancing evidence-based education, research, and clinical practice in cannabinoid medicine. The symposium brings together healthcare professionals across disciplines to examine emerging data, discuss clinical applications, and address limitations in current evidence related to cannabinoid-based therapies.  

About Avicanna: 

Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products. 

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. 

• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. 

• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. 

• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. 

SOURCE Avicanna Inc.  

Stay Connected  

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.  

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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. 

TORONTO, April 06, 2026 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products announces effective Thursday April 1, 2026 the resignation of John McVicar and pleased to announce the appointment of Mr. Ozgur Kilic to the Board of Directors of the Company.

Mr. Kilic is an experienced global business executive and Chief Executive Officer with a background as a strategic Chief Financial Officer and Chief Operating Officer with more than 20 years of experience at various global public companies and private equity backed pharma companies across the US, UK, Italy, and Switzerland. Mr. Kilic is a graduate of Koc University (BA, Business Administration; BA, History) and Stuttgart Institute of Management and Technology (MBA, Finance & Investment) and is qualified as Associate Chartered Management Accountant (ACMA) and Chartered Global Management Accountant (CGMA) by the Chartered Institute of Management Accountants.

“I am honored and excited to join the Board of Directors at Avicanna at such a pivotal time in the company’s evolution. Through the hard work, resilience, and dedication of its management team, the company is reaching a meaningful value inflection point, driven by a differentiated portfolio of existing products and a promising pharmaceutical pipeline focused on addressing significant unmet medical needs. I look forward to contributing to Avicanna’s continued growth, especially its plans to expands its presence in the United States and strengthens its international footprint, delivering innovative therapies that can improve patient outcomes worldwide.”

About Avicanna:
Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
  
• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
  
• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
  
• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.
  
  

Stay Connected

For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.

TORONTO, April 1, 2026 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce that its full year 2025 results, audited financial statements with management’s discussion and analysis have been filed. 

“Throughout the year, we strengthened our leadership in cannabinoid-based medicine by advancing our research and development programs, progressing clinical initiatives, and deepening engagement with the Canadian medical community. We delivered the strongest financial performance in our history, reflecting operational discipline, optimization, and efficiencies.  

“We also made targeted investments across our platforms to support commercial scalability, advanced product development, and enhanced the capabilities of the MyMedi.ca platform. These initiatives position Avicanna to scale efficiently, expand internationally, and unlock the full value of our business units and intellectual property globally.” stated Aras Azadian, CEO of Avicanna. 

Earnings call: Management will host an earnings call and corporate update on Tuesday April 7th at 8:00 a.m. Eastern time. Presenters will include Aras Azadian, CEO, Nick Hillborn, Interim CFO and Dr. Karolina Urban, EVP, Medical Affairs. To register, follow the link: https://zoom.us/webinar/register/WN_RJACfyrPSo6CpVfSzcx5SQ 

Financial Highlights: 

• Revenue and Gross Profit: Revenue totaled $6.6 million in Q4 2025 and $25.48 million for the year ended December 31, 2025, consistent with $6.6 million and $25.46 million, respectively, in the prior year. Gross margin expanded to 53% in 2025 from 51% in 2024, driving gross profit to $13.4 million, compared to $12.9 million in the prior year. Margin expansion reflects continued optimization of product mix and cost efficiencies. 

• Adjusted EBITDA: The Company generated positive adjusted EBITDA of $0.31 million in Q4 2025, compared to $(0.79) million in Q3 2025, reflecting improved operating leverage. For the year ended December 31, 2025, the Company achieved near break-even adjusted EBITDA with $(0.29) million, representing a 76% improvement compared to $(1.01) million in 2024. The year-over-year improvement was primarily attributable to higher gross margins and a 10% reduction in operating expenses. 

Highlights and Advancements During 2025: 

Canadian Commercial Advancements: During 2025 the Company further advanced its Canadian commercial platform across new SKUs, channels and listings. Additionally, the Company’s MyMedi.ca platform recovered from a modest Q1 performance of decreased sales, with three consecutive quarters of growth, combined with consistent increases in the proportion of sales attributed to Avicanna’s proprietary products. This resulted in 211,090 units of proprietary products sold during 2025, an increase of approximately 5% from 2024. At the end of the fourth quarter, the Company had 52 commercial SKUs and 174 commercial listings across medical and adult use channels, representing 27% growth in proprietary commercial SKUs and a 32% growth in total listings from Q4 2024.  

Initiation of Pilot Phase II Clinical Study for Osteoarthritis Pain with UHN: The multicenter, blinded, randomized placebo-controlled investigator-initiated study, will be led by Dr. Hance Clarke and conducted at University Health Network. The study will analyze the effectiveness of Avicanna’s proprietary oral cannabis extracts for osteoarthritic pain and is the Company’s first placebo controlled, blinded randomized multicenter trial “RCT”. The study is funded by a Canadian Institutes of Health Research (“CHIR”) grant and is sponsored by Avicanna, which is providing its proprietary CBD and THC capsules produced under Good Manufacturing Practices (“GMP”) for the trial.  

Promising Pre-clinical Data Supporting Enhanced Absorption and Patent Filing for Novel Oral Delivery Platform: The PwdRx technology was designed to address key formulation challenges associated with highly lipophilic cannabinoids, which often exhibit poor water solubility, low and variable bioavailability, and delayed onset of action. The technology demonstrated positive results in recent in-vitro study including 74% higher bioavailability (AUC), 63% faster peak plasma levels (TMAX) and a 134% higher peak plasma concentration (CMAX) when compared to an MCT oil formulation. The Company also filed a provisional patent application on the novel drug delivery platform which can be incorporated into products such as tablets, capsules, sachets and pouches. 

Scientific and Medical Affairs Collaboration with Aspeya Switzerland SA: The scientific and medical affairs collaboration with Aspeya Switzerland SA (formerly Vectura Fertin Pharma) a subsidiary of Philip Morris International, aims to facilitate research and medical affairs initiatives related to medical cannabis in Canada. The scientific and medical affairs collaboration will prioritize engagement with the Canadian medical community, patients, patient advocacy groups, and insurers to gain insights into the challenges associated with accessing medical cannabis. The scientific and medical affairs collaboration will leverage Avicanna’s medical cannabis platform, including MyMedi.ca, with the aim of improving patient access and patient support. 

Symposium on Cannabinoid-based Medicine (June 2025): Held at the MaRS Discovery District in Toronto, Avicanna’s fifth symposium brought together leading key opinion leaders and healthcare professionals to explore advancements in cannabinoid-based research, medicine, and clinical adoption. The event’s attendees included healthcare practitioners and researchers, and featured discussions on emerging evidence and practical clinical applications of cannabinoid-based medicine. The program showcased insights from prominent clinicians, researchers, scientists, and industry experts representing a range of academic, clinical, and research institutions. 

First Commercial Exports of Premium and Organic Cannabis Flower: Santa Marta Goldan Hemp SAS (“SMGH”), the Company’s majority owned subsidiary, completed its first export of organic certified flower into Switzerland during Q3 2025 and its first commercial export of organic flower to Australia in Q1 2026. The accumulated exports represent the 22nd international market for SMGH and 24 market for Avicanna. These new commercial opportunities are the result of improvements to the SMGH infrastructure and expansion of the Aureus portfolio to meet the growing demand of medical cannabis flower in Europe and Australia. 

Avicanna LATAM SAS Launches re+PLAY™ CBD Wellness Brand Topicals with Harrington Wellness Brands in the United States: re+PLAY™ is a CBD wellness brand founded by NBA veteran Al Harrington that features Avicanna’s patented and proprietary CBD and CBG topical formulations. Initial product offerings include a 3% CBD localized cream and the 2% CBD and 1% CBG transdermal gel employing Avicanna’s patented deep tissue technology. The CBD and CBG used in the formulations are derived from USDA organic certified hemp cultivated in Avicanna’s subsidiary SMGH and manufactured by the Avicanna LATAM SAS team in Colombia.  

About Avicanna: 

Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products. 

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. 

• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. 

• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. 

• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. 

SOURCE Avicanna Inc.  

Stay Connected  

For more information about Avicanna, visit our website or contact Ivana Maric by email at info@avicanna.com.  

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 March 31, 2026, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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. 

TORONTO, March 26, 2026 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce that through its majority–owned subsidiary Santa Marta Golden Hemp SAS (SMGH), the Company completed its first commercial export of CBG–dominant cannabis flower to Australia.  

 

Over the past two years, Avicanna has invested in process development, infrastructure, and quality systems to align SMGH’s operations with international regulatory expectations for active pharmaceutical ingredients (“API”) and raw materials. As a result, SMGH is positioned to produce consistent, standardized cannabis flower at commercial scale, with a focus on cannabinoid-specific chemotypes, traceability, and compliance with Good Agricultural and Collection Practices (GACP) and organic certification standards.  

SMGH’s operational model incorporates several structural strengths relevant to cultivation and production of cannabinoid API including year-round cultivation enabled by equatorial conditions, controlled environmental parameters, and established genetic portfolios registered in Colombia. These factors contribute towards supporting conditions for consistent production cycles, batch uniformity, and cost efficiencies, which are essential for long-term participation in international medical cannabis markets. 

This export also includes SMGH’s proprietary CBG cultivar, part of the Company’s portfolio of registered varieties. With this shipment, SMGH has now supplied products into 21 international markets, and Avicanna products have reached 24 markets globally, reflecting the Company’s experience navigating complex regulatory frameworks. 

Avicanna carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates. 

 

About Aureus™ 

The Aureus™ brand is the Company’s line of raw materials and active pharmaceutical ingredients (“API”), including CBD, CBG and THC manufactured through SMGH. The cannabis raw materials supplied by SMGH, form part of the Company’s supply chain and reliable input for its consumer retail, medical cannabis, and pharmaceutical preparations and pipeline globally.  

SMGH is also dedicated to providing consistent, high-quality sources of input materials to the various companies operating in a variety of industries internationally. SMGH received Good Agricultural, and Collection Practices (“GACP”) and Organic certifications under the United States Department of Agriculture National Organic Program (“USDA”) for its hemp cultivars. SMGH has exported Aureus™ branded products into 20 different countries for research and manufacturing purposes. The SMGH facility contains approximately 300,000 Square feet of cultivation space with an extraction capacity of 300kg. The current annual yield is approximately 26,400 kg.  

About Avicanna: 

 

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars. 

 

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto™ is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. 

 

• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. 

 

• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. 

 

• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. 

 

SOURCE Avicanna Inc.  

 

Stay Connected  

 

For more information about Avicanna, visit our website or contact Ivana Maric by email at info@avicanna.com.  

 

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 April 11, 2025, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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. 

 

TORONTO, March 16, 2026 (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 the initiation of new Phase I randomized, double-blinded, placebo-controlled, dose-finding clinical trial (“Trial ”) led by researchers at the University of Calgary’s Cumming School of Medicine.

Study Overview

The Trial is led by Dr. Leah Mayo, Assistant Professor, and supported by Dr. Matthew Hill, Professor at the University of Calgary. This single site, randomized, double-blind, placebo-controlled crossover trial will enroll 24 healthy adult participants. Participants will receive single oral doses of THC across separate study visits at 6 mg, 9 mg, and 15 mg, as well as placebo, with washout periods between dosing sessions. Primary endpoints focus on validated psychometric assessments of anxiety and subjective response. Secondary endpoints include measures of mood and intoxication, cardiovascular parameters, circulating stress biomarkers, endocannabinoid system markers, and pharmacokinetic profiling. The Trial is designed to generate high resolution dose response data to better define the therapeutic window of oral THC and to characterize interindividual variability in response.

Investigational Product

The Trial utilizes Avicanna’s proprietary AVCN319301b THC capsules which utilize the Company’s Solid Self-Emulsifying Drug Delivery System (SEDDs) technology. Due to the highly lipophilic nature and poor water-solubility of cannabinoids, typical cannabis formulations have poor absorption and variability of onset. Avicanna’s oral delivery systems offer an effective route for non-invasive and non-inhalation administration of cannabinoids^1-4. The proprietary capsules are also enrolled in a previously announced pilot phase II randomized controlled trial (RCT) for osteoarthritis with the University Health Network.  Avicanna’s SEDDs technology has demonstrated robustness and versatility through different drug delivery formats including several commercial products such as liquid infuser drops, capsules and an extensive pipeline of products currently in commercialization stage.

“We are pleased to be expanding our clinical collaborations with the University of Calgary and to be working alongside Dr. Hill and Dr. Mayo, who are internationally recognized for their contribution to cannabinoid science and anxiety research. This Trial represents our second randomized controlled trial that is evaluating our proprietary capsule and marks another important step in advancing our pharmaceutical development pipeline through rigorous, investigator-led research,” stated Dr. Karolina Urban, Executive Vice President of Medical and Scientific Affairs at Avicanna.

¹ Maji, et al., Solid self emulsifying drug delivery system: Superior mode for oral delivery of hydrophobic cargos. Journal of Controlled Release, 337, 2021;646-660.

² Salawi A. Self-emulsifying drug delivery systems: a novel approach to deliver drugs. Drug Deliv. 2022 Dec;29(1):1811-1823.

³ Khaled, A.; Ayat, A. A.; Mahmoud, E.-B., Self-Emulsifying Drug Delivery Systems: Easy to Prepare Multifunctional Vectors for Efficient Oral Delivery. In Current and Future Aspects of Nanomedicine, Islam Ahmed Hamed, K., Ed. IntechOpen: Rijeka, 2019; p Ch. 4

⁴ Pathak, Ashish Kumar et al. “Recent advances in self emulsifying drug delivery system – A review.” Drug Invention Today (2010): 123-129.

About Avicanna:

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars.

• Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
• Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients’ needs and enhance the medical cannabis patients’ journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
• Pharmaceutical pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
• Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company’s majority owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”) is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company’s international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company’s supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.

 

SOURCE Avicanna Inc.

 

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For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.

 

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This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this news 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. Forward-looking information contained in this news release includes, without limitation, statements with respect to the Company’s future business operations, the opinions or beliefs of management and future business goals. 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 April 11, 2025, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The statements in this news 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.