Avicanna Expands RHO PhytoTM Formulary with the Introduction of Cannabigerol Products into the Canadian Market

Avicanna introduces the rare cannabinoid CBG into its RHO Phyto product formulary which includes oral, sublingual, and transdermal formulations

RHO Phyto CBG products will be made available through various medical and adult-use channels across Canada by Q3 2022

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 will be expanding its RHO Phyto formulary in Canada with Cannabigerol ("CBG") formulations into medical and adult-use channels across Canada.

Avicanna expands its trusted RHO Phyto brand to include several CBG formulations which will be made available across various medical cannabis channels including Medical Cannabis by Shoppers ^TM and adult use channels beginning with its two listings on the Ontario Cannabis Store ("OCS") in Q3 2022. As the Canadian cannabis market continues to expand, Avicanna is leveraging its R&D capabilities to deliver differentiated medical and wellness products including rare cannabinoid formulations into established commercial channels. The initial CBG formulations will include:

RHO Phyto Rapid Act THC:CBG Spray: A combination of THC and CBG in a lemon-mint flavoured spray that utilizes Avicanna's sublingual delivery technology to provide fast onset.

RHO Phyto Micro Drop THC:CBG:CBD Oil: A combination of THC, CBG and CBD in a blood orange flavoured oil which utilizes Avicanna's inverted emulsion technology to provide enhanced absorption and shelf-life stability.

RHO Phyto CBG Transdermal Relief Gel: A combination of CBG and CBD in a fast absorbing, water-based gel. The gel employs Avicanna's proven deep tissue technology and combines cannabinoids with synergistic natural ingredients and terpenes including menthol and beta-caryophyllene.

About CBG

CBG is a rare and non-psychoactive cannabinoid which acts as the precursor to other more commonly known cannabinoids including CBD and THC, CBG, interacts with several receptors throughout the skin and body that are known to be targets for inflammation, infection, pain, as well as neurological and mood related disorders. Specifically, modern research has investigated CBG and its potential role in analgesia, anti-inflammation, anti-bacterial, and for its neuroprotective properties ^1-⁵ . In particular, the use of CBG in topical formulations provides local applications for various conditions such as arthritis, muscle aches and pain due to its anti-inflammatory properties. Additionally, oral applications of CBG such as the Rapid Act sublingual spray or Micro Drops oils are expected to have systematic effects.

Avicanna's research into CBG

Avicanna continues to research the potential therapeutic areas of CBG with its academic and clinical partners including ongoing studies with Thompson River University investigating the potential anti-microbialand anti-inflammatory capabilities of CBG. The results of these studies will provide further guidance towards product development and clinical trials while supporting existing commercial efforts. Moreover, the new additions to the RHO Phyto formulary will be enrolled into Avicanna's medical cannabis - real world evidence trial ("MC-RWE") conducted by the University Health Network (UHN). This longitudinal study evaluates the efficacy of medical cannabis on patient-reported outcomes of pain, anxiety, sleep and depression.

Additionally , Avicanna has been conducting research on CBG through its cultivation projects in Colombia where the Company has developed a genetic strain of cannabis expressing up to 17% CBG in its biomass. The proprietary genetic has also undergone extraction and is likely the first local source of pure CBG to be available in Colombia from where it has also been exported to the United States and Czech Republic.

1. G Navarro, K Varani, I Reyes-Resina, VS Medina, RR Santisteban, CSC Callado, F Vincenzi, S Casano, CF Vera, EI Canela, PA Borea, X Nadal, R Franco (2018) Cannabigerol Action at Cannabinoid CB1 and CB2 Receptors and at CB1–CB2 Heteroreceptor Complexes. Front Pharmacol 9: 632

2. Perez E, Fernandez JR, Fitzgerald C, Rouzard K, Tamura M, Savile C. In Vitro and Clinical Evaluation of Cannabigerol (CBG) Produced via Yeast Biosynthesis: A Cannabinoid with a Broad Range of Anti-Inflammatory and Skin Health-Boosting Properties. Molecules. 2022; 27(2):491. https://doi.org/10.3390/molecules27020491

3. Nachnani, R.; Raup-Konsavage, W.M.; Vrana, K.E. The Pharmacological Case for Cannabigerol. J. Pharmacol. Exp. Ther. 2021, 376, 204–212.

4. Schuetz, M.A., Savile, C.K., Webb, C., Rouzard, K., Fernández, J.R., & Pérez, E. (2021). 480 Cannabigerol: The mother of cannabinoids demonstrates a broad spectrum of anti-inflammatory and anti-microbial properties important for skin. Journal of Investigative Dermatology, 141.

5. Kogan NM, Lavi Y, Topping LM, Williams RO, McCann FE, Yekhtin Z, Feldmann M, Gallily R, Mechoulam R. Novel CBG Derivatives Can Reduce Inflammation, Pain and Obesity. Molecules. 2021; 26(18):5601. https://doi.org/10.3390/molecules26185601

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based cannabinoid products for the global consumer, medical and pharmaceutical market segments. Leading global cannabinoid advancements, The Company actively collaborates with renowned Canadian academic and medical institutions in research and commercialization. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development that has led to the commercialization of more than thirty products across its main market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are an advanced line of pharmaceutical-grade cannabinoid 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.

Pharmaceutical Pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that 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 the drug registration stage in South America.

SOURCE Avicanna Inc.
Stay Connected

For more information about Avicanna, visit www.Avicanna.com, contact Ivana Maric by email at info@Avicanna.com or follow us on social media on LinkedIn , Twitter , Facebook or Instagram .

The Company posts updates through videos from the official Company YouTube channel.

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 anticipated financial and/or operational results and outlook, including projected revenues, projected sales growth, anticipated expansion of product listings, the Company's anticipated application of its products, projected growth, anticipated geographical expansion, receipt of authorizations and regulatory approvals, success of clinical trials, scientific advancements and developments, successful commercialization of products, the Company's our priorities, goals and strategies, industry trends and their anticipated impact, the anticipated impact of current market conditions on each of our segments and near term expectations, components and supply chain constraints, and the Company's financial statement estimates and assumptions. 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 September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com. 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.

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Avicanna Announces Extension of Term Loan

Avicanna Inc. (" Avicanna " or the " Company ) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid based products, announces that it has entered into a extension agreement (the " Extension Agreement ") in connection with its senior secured term loan previously announced on August 19, 2021 (the " Term Loan "). In accordance with the Extension Agreement, the maturity date of the Term Loan was extended by five months, from October 19, 2022 to March 19, 2023 (the " New Maturity Date ").

Pursuant to the Extension Agreement, the Company will continue to make interest payments as required by the original loan agreement in respect of the Term Loan, and will also make monthly repayments of principal beginning in November, 2022 and ending in February, 2023, following which the outstanding principal on the Term Loan will come due on the New Maturity Date. The Term Loan continues to bear interest at 5% per annum, calculated monthly.

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Avicanna Files Complete Patent Specifications Relating to a Novel Cannabinoid Formulation for Reducing Incidence of Seizures and Sudden Unexpected Death in Epilepsy

Avicanna Inc. (" Avicanna " or the " Company ") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has formalized its provisional patent application, entitled "Methods for Reducing or Eliminating Incidence of Seizures and Sudden Unexpected Death in Epilepsy", for the use of a novel cannabinoid formulation (the "Formulation Candidate") after completion of in-vivo animal studies.

The formal application is filed with WIPO by claiming the priority date of US provisional application filed in September 2022 using the Patent Co-operation Treaty (PCT) system.

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Avicanna Announces Results of Annual General and Special Meeting

Avicanna Inc. (" Avicanna " or the " Company ") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that all of management's nominees listed in the Company's management information circular dated July 28, 2022 (the " Circular ") were elected as directors of the Company at Avicanna's annual general and special meeting of shareholders held on August 31, 2022 (the " Meeting ").

The detailed results of the vote for the election of directors held at the Meeting are set out below.

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Cannabis leaf on road marked with "2025," with sunlight in the background.

New Cannabis Consumption Trends, Regulatory Shifts Seen Driving Market in 2025

Understanding trends in the cannabis industry is paramount for investors eyeing a market with steady growth potential, but the landscape is complex as products and regulations continue to evolve.

Consumption habits are changing as edibles, vaping and THC beverages gain traction, especially among younger users, and cannabis companies are adapting their offerings to meet shifting demand.

Meanwhile, regulatory uncertainty, particularly surrounding the future of the US Farm Bill and state-level restrictions on hemp-derived cannabinoids, continues to challenge the market.

Despite these headwinds, production data and long-term growth forecasts suggest the cannabis industry remains on a promising — albeit turbulent — path. Read on for more on key trends to watch in 2025.

Consumption methods evolving post-legalization

Shifts in consumer behavior are reshaping markets across the board, and the cannabis industry is no exception.

While smoking remains the dominant method of cannabis consumption, a recent report from the Centers for Disease Control and Prevention highlights the growing popularity of edibles, vaping and dabbing.

The report notes that vaping and dabbing are particularly pronounced among younger adults.

A separate study published by the American Medical Association and funded in part by the Canadian Institutes of Health Research also points to how product preferences have changed among Canadian users since legalization in 2018.

The study indicates that while the use of flower, cannabis concentrates, oil, tinctures and topicals has decreased during that time, the use of vape cartridges, edibles and beverages has increased.

Edibles and beverages were legalized in Canada in late 2019, and Truss Beverage was one of the first players to introduce cannabis-infused drinks. Truss was a joint venture formed by Molson Coors Canada (TSX:TPX.A,TSX:TPX.B) and HEXO, a cannabis company that has since been acquired by Tilray Brands (TSX:TLRY,NASDAQ:TLRY).

In early 2020, Tilray launched a lineup of confectionery, wellness products and beverages through its subsidiary, High Park; Canopy Growth (TSX:WEED,NASDAQ:CGC) made a similar move. These companies gradually brought their products to the US as more states legalized cannabis for medical and/or recreational use.

Today, established cannabis brands typically offer edibles and beverages alongside their other products. Organigram Global (TSX:OGI,NASDAQ:OGI) is one of the newest US entrants, with its April acquisition of Collective Project providing immediate access to the US hemp-derived THC beverage market.

Growing awareness of health and wellness, potentially amplified by the pandemic-led adoption of health trackers, appears to be making an impact on the alcoholic beverage market.

A 2023 Gallup poll reveals a two decade decline in alcohol consumption, particularly among younger adults, suggesting a shift towards more health-conscious lifestyles within this demographic.

Craft beer production declined by 4 percent year-on-year in 2024, according to data collected by the Brewers Association. This marked the largest drop in the industry's history, excluding the pandemic. For small, independent craft breweries, 2024 marked the third consecutive year of declining production. A drop in the number of operating small breweries last year provides further evidence of this trend, with 501 closures in 2024 versus 434 openings.

Challenges in the alcohol market extend beyond the brewing industry, with the New York Times recently reporting the closure of a handful of nightclubs facing decreased alcohol sales alongside rising insurance and rent costs.

Meanwhile, cannabis lounges have been popping up across the US for the last several years. As of early 2025, several states had legalized or were in the process of implementing regulations for cannabis consumption lounges.

Hemp market growth despite regulatory uncertainty

The burgeoning hemp industry is another segment of the expanding cannabis market.

The legalization of industrial hemp — defined as cannabis with a THC concentration of 0.3 percent or less — through the 2018 Farm Bill led to initial investment and optimistic projections for CBD wellness products and various industrial applications. The sector’s rapid evolution also brought the rise of hemp-derived intoxicating cannabinoids, creating a market that presented both opportunities and complexities for participants.

However, after an initial boom, a lack of infrastructure and clearly defined regulations for CBD, as well as state-level variations and market oversupply, ultimately contributed to a quick retraction.

2024 was a pivotal year for the US hemp industry, as the hemp-related provisions of the 2018 Farm Bill — originally set to expire in September 2023, but extended to December 31, 2024 — created an urgent need to address critical issues like THC limits and the regulation of novel hemp-derived cannabinoids. A major point of contention was the proposed shift from defining hemp based on Delta-9 THC concentration (0.3 percent or less) to “total THC,” which includes THCA.

This change had the potential to significantly impact farmers and processors, as many hemp varieties that are compliant under the Delta-9 THC rule could exceed the 0.3 percent limit when THCA is included.

Various bills and amendments were proposed in 2024 as part of the Farm Bill discussions, each with different approaches to regulating hemp. Separate regulatory frameworks for industrial hemp and hemp grown for cannabinoids were suggested, and many states took their own action, leading to a patchwork of regulations and even outright bans.

Despite challenges, data from the US Department of Agriculture suggests signs of recovery.

The department's annual National Hemp Report from 2024 points to an 18 percent increase in industrial hemp production value between 2022 and 2023, with output growth seen in specific sectors like floral (18 percent), fiber (133 percent) and seed hemp (414 percent). The 2025 report from the Department of Agriculture indicates further expansion, with notable increases observed in both acreage (up 64 percent from 2023) and value (46 percent).

The 2024 Farm Bill ultimately did not pass, and right now the hemp industry is operating under a temporary extension of the 2018 Farm Bill under the American Relief Act of 2025, signed into law on December 21, 2024.

The 2018 Farm Bill is now set to expire on September 30, 2025.

While analysts for Markets and Markets project that the North American hemp industry will grow at a CAGR of 22.4 percent and ultimately reach a valuation of US$30.24 billion by 2029, the future of the industry will be heavily influenced by the outcome of the ongoing Farm Bill discussions.

US cannabis legalization remains stalled

Although there is clear demand for cannabis products, the now-defunct rescheduling process in the US is likely to continue casting a shadow of uncertainty over the industry's long-term trajectory.

Legal and procedural delays, including allegations of improper conduct and bias within the US Drug Enforcement Administration (DEA), led to hearing cancellations, and the new administration of US President Donald Trump has brought leadership changes to key agencies like the DEA and the Department of Justice.

Terry Cole, who Trump nominated to be DEA administrator on February 11, has a history of opposing cannabis legalization in the country. Similarly, Pam Bondi, Trump’s pick to lead the justice department, staunchly opposed a movement to legalize medical cannabis during her tenure as Florida’s attorney general.

While there have been bipartisan efforts in Congress to end federal cannabis prohibition and establish regulations for eventual legalization, the DEA’s actions and statements indicate a potential stall or reversal of progress.

In addition to that, new research is adding complexity to the debate.

A study published in the American Journal of Psychiatry this past March highlights an association between the use of high-potency cannabis strains and increased risks of psychosis, a factor that may not have been fully considered by the Department of Health and Human Services. As stronger cannabis strains become more widely available, a reassessment of their potential health risks may be required.

Investor takeaway

While the cannabis industry holds promise for growth and innovation, investors must remain acutely aware of the regulatory uncertainties and market volatility that will undoubtedly shape its trajectory in the years to come.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings Conference Call on February 27, 2025

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") will hold its 2024 fourth-quarter and full-year earnings conference call on Thursday, February 27, 2025 at 8:30 a.m. ET. Cronos' senior management team will discuss the Company's financial results and will be available for questions from the investment community after prepared remarks.

To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations . To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website.

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Name of Nominee	Votes cast FOR	% votes cast FOR	Votes WITHHELD	% votes WITHHELD
Dr. Chandrakant Panchal	12,443,199	99.58%	52,408	0.42%
Aras Azadian	12,461,654	99.73%	33,953	0.27%
Giancarlo Davila Char	12,471,654	99.81%	23,953	0.19%
Eileen McCormack	12,476,375	99.85%	19,232	0.15%
John McVicar	12,473,154	99.82%	22,453	0.18%

Avicanna Expands RHO PhytoTM Formulary with the Introduction of Cannabigerol Products into the Canadian Market

In this article

Guide to cannabis in Australia: New South Wales

Guide to cannabis in Australia: Victoria

Guide to cannabis in Australia: Queensland

Guide to cannabis in Australia: South Australia

Guide to cannabis in Australia: Western Australia

Guide to cannabis in Australia: Tasmania

Guide to cannabis in Australia: Northern Territory

Guide to cannabis in Australia: Australian Capital Territory

Consumption methods evolving post-legalization

Hemp market growth despite regulatory uncertainty

US cannabis legalization remains stalled

Investor takeaway

1. Botanix Pharmaceuticals (ASX:BOT)

2. Vitura Health (ASX:VIT)

3. IDT Australia (ASX:IDT)

4. Little Green Pharma (ASX:LGP)

5. Neurotech (ASX:NTI)

6. ECS Botanics (ASX:ECS)

7. Cann Group (ASX:CAN)

8. Althea (ASX:AGH)

9. Ecofibre (ASX:EOF)

10. Argent Biopharma (ASX:RGT)

Road to cannabis rescheduling hits another speed bump

Pennsylvania governor proposes legal cannabis market in state budget

Senate committee re-examines the SAFER Banking Act

Aurora, Canopy Growth report earnings

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