Avicanna Launches its Clinically Backed CBD Derma-cosmetics Brand, Pura H&W, in the United States in Partnership with Red White and Bloom

The THC-Free, CBD derma-cosmetic brand is the first known CBD skincare line to be clinically tested and commercialized across four international markets

The initial launch of Pura H&W will include seven SKUs of proprietary products that will be available through e-commerce as well as cannabis and non-cannabis specific retailers

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 pharmaceuticals, is pleased to announce the brand launch and commercialization of its proprietary and clinically backed derma-cosmetics brand, Pura H&W, through its exclusive partnership with Red White and Bloom (CSE: RWB).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a99e4506-ae98-440d-8190-2ffed5f9fe35

This marks the fourth country in which Avicanna's derma-cosmetic products branded as Pura H&W or Pura Earth have commercialized, including Colombia and Ecuador as well as Canada where the products are available through medical and adult use channels.

"This marks the first major market for the brand where the products will be accessible to consumers over the counter and nationwide. We are optimistic about the launch of Pura in the United States where we believe the clinically-backed and functional products will be highly differentiated and well supported by our strategic partners Red White and Bloom and their US commercial infrastructure," commented Aras Azadian, CEO, Avicanna.

The US beauty industry continues to grow rapidly and innovative trends, such as the introduction of cannabinoid-based cosmetics, are expected to provide a strong market opportunity. The launch of the proprietary and clinically-backed cannabidiol (" CBD ") product line will leverage the growing use of online platforms for shopping including Pura H&W's own e-commerce platform https://www.purahw.com/ in addition to third party e-commerce channels, "big box" retailers and Red White and Bloom's existing cannabis retail infrastructure across the United States.

"We are excited to launch the Pura brand in the US. As the first clinically tested line in CBD cosmetics, the reaction from our stores and retail partners has been exciting and this is strategically aligned with our goal to be the most recognized and responsible multi state operator (MSO) in the market. We look forward to scaling the launch quickly in both our physical and digital channels," said Brad Rogers, CEO of Red White & Bloom.

Pura H&W U.S. Portfolio

The skincare line includes seven topical SKUs, three of which are available for purchase online now and for more that are expected to be available imminently.

Anti-Aging Serum: This emulsion gel combines CBD with stem cells from a rare variety of Swiss apple to deliver powerful ingredients to the skin. This refreshing and fast absorbing formula maximizes results for bouncy, glowing skin.

Cooling Body Gel: This go-to essential combines CBD & cannabigerol (" CBG ") with menthol, clove oil and other unique ingredients and natural polyphenols in an advanced emulsion formulation. This non-greasy formula is ideal for those moments when you need to cool and calm areas after physical activity.

Brightening Facial Oil: Made with a blend of natural oils including CBD, Marula, Squalene, Pomegranate and Rosehip, this silky-smooth formula leaves skin looking dewy and revitalized. Light notes of vanilla and limonene refresh the senses.

Anti-Aging Cream: Keeping the skin moisturized and locking in hydration, helps against environmental and natural stressors, and visibly enhances texture. This luxurious combination of CBD and Japanese cedar bud extract floods the skin with moisture to visibly improve natural lifting, toning and smoothing effects.

Intensive Moisturizing Cream: With the hustle and bustle of everyday life, the skin is constantly under assault by stress, pollution, and the environment. These factors can trigger extreme effects which may include the appearance of redness and flaking. This rich combination of CBD and colloidal oatmeal helps soothe extremely dry skin.

Clear Skin Gel: Skin problems due to routine breakouts affect almost all age groups and can occur when hair follicles become blocked by excess oil or dead skin cells. This formulation combining CBD with rosemary extract, tea tree oil and other key ingredients helps to remove oil and provide fresher looking skin.

Skin Protecting Face Lotion (Night): Our overnight cream combines CBD, pro-retinol, and vitamin E, which work together to hydrate the skin while you rest. This smooth formulation helps to boost your skin's radiance and reduces visible signs of aging.

Clinical Studies

Three cosmetic clinical studies were completed on Avicanna's [above noted] formulations targeting cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients that were tested for safety and specific derma-cosmetic endpoints, including hydration and excess oil production. All three studies achieved positive results in the endpoints with no adverse effects, making Pura H&W one of the only cannabinoid consumer lines with human safety and efficacy data. For more information please see www.Clinicaltrials.gov Registry.

About Pura H&W

Pura Health & Wellness (Pura H&W) is Avicanna's derma-cosmetic line which utilizes a combination of purified CBD and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura H&W product line was developed by Avicanna and specific products have undergone clinical trials. The products are now commercial under Pura H&W or Pura Earth in Canada, Colombia Ecuador and the U.S.

The Pura H&W formulations have been developed and optimized to deliver purified, THC-free CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare. CBD has been shown to promote skin health by inducing antioxidant, anti-inflammatory, and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions such as eczema or atopic dermatitis. In addition, CBD can down-regulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin.

About Red White & Bloom Brands Inc.

Red White & Bloom is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. Red White & Bloom is predominately focusing its investments on the major US markets, including Michigan, Illinois, California, and Florida with respect to cannabis, and the US and internationally for hemp-based CBD products.

About Avicanna

Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development, and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

• Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of 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. Avicanna's medical and wellness product portfolio also forms the foundation of the Company's pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real world evidence studies.
• Pharmaceutical Pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which 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.
• Cannabis Raw Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™ brand, the Company's raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, isolated cannabinoids (CBD, THC, CBG and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical, and industrial-scale subsidiaries based in Colombia. The majority of the Aureus products are produced at Santa Marta Golden Hemp S.A.S. ("SMGH"), the Company's majority-owned subsidiary, which is also Good Agricultural and Collection Practices ("GACP") certified and has United States Department of Agriculture ("USDA") National Organic Program certification for its hemp cultivar.
  

SOURCE Avicanna Inc.

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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 press 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 and includes, without limitation, statements with respect to the Company's anticipated growth plans, anticipated market opportunities as a result of the introduction of cannabinoid-based cosmetics, and the anticipated timing of additional products available for purchase . Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, the availability of licenses, approvals and permits, and the utility and application of certain drugs and products. 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 press 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.