Avicanna Completes First Commercial Export of Aureus Branded Full Spectrum Psychoactive CBD Cannabis Extracts to Brazil

CANNANNEW REPORT

This initial export to Brazil marks Avicanna’s first commercial export of psychoactive Cannabis Extracts into the emerging Brazilian medicinal cannabis market and the delivery of the initial purchase order from the previously announced three (3) year master supply agreement. This shipment also marks the 11 th country to which SMGH has exported the Aureus™ branded products, which include a range of CBD, THC and CBG extracts and feminized seeds. /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/ 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, through its majority-owned Colombian subsidiary Santa Marta Golden Hemp S.A.S. (“ SMGH ”), it has completed its first commercial export of 20 kg of high CBD full spectrum psychoactive cannabis extracts (the “ Cannabis Extracts ”) to Brazil in connection with the previously announced three (3) year master supply agreement that SMGH executed with a leading Brazilian pharmaceutical in July, 2021. This marks the 11 th country to which Avicanna has successfully completed export of Aureus-branded products in what stands as a demonstration of the Company’s capabilities, innovation, and regulatory expertise. This export also validates the emergence of the global cannabinoid sector with reliance on quality, traceability and sustainability that Avicanna’s Aureus products offer. With a forecasted total market size of approximately USD $9 billion by 2025 1 , Brazil is expected to be one of the biggest cannabis markets globally and the largest in Latin America, particularly for medicinal cannabis products. The Cannabis Extracts will be used in the production of several products which will be registered and commercialized in Brazil through RDC 327/19 that regulates manufacturing, registration,…

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