Company News

Avicanna Inc. ("Avicanna" or the "Company ") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), an innovative, commercial-stage, and international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based, cannabinoid-based products, is pleased to provide fourth quarter 2021 results and highlights, as well as fiscal 2022 guidance.

Aras Azadian, CEO stated, "During 2021 we forged our path within the Canadian market and demonstrated our potential as a biopharmaceutical company with the commercialization of our proprietary wellness and medical products at a global level. We are optimistic about the early commercial success we have attained from our vertical integration which synergistically combines our sustainable input materials with our proprietary formulations to deliver a diverse portfolio of products competitively on the global stage."

Q4 2021 Highlights and Guidance

  • Projected record revenue of $1.3M, representing the fourth consecutive quarter over quarter increase of at least 30%.
  • Projected total fiscal 2021 revenue of $3.3M, representing a 133% growth from $1.5M in 2020.
  • 70,000 units of proprietary cannabinoid-based product sold across global channels, representing a 160% growth from Q3, resulting in124,000 units during 2021 versus 4,100 units in 2020.
  • A total of 34 "cannabis 2.0" product listings across medical and adult-use channels in Canada, signifying an increase of 36% from the Q3-21.
  • Total of 18 "cannabis 2.0" SKUs launched in Canada, through four brands which included the successful launch of Viola and re+Play brands during the quarter.
  • Strengthened its position with the Medical Cannabis by Shoppers™ online portal with a total of 12 SKUs available to patients and the medical community by the end of fiscal 2021.
  • The Company's international distribution channels also progressed during the quarter with the opening of the Company's 14 th international market across four continents.
  • The export and commercialization of its CBD skin care line Pura H&W™ in the United States and its medical cannabis brand RHO Phyto™ into the Caribbean region.

2022 Strategy and Guidance

2022 is expected to be a pivotal year for the Company, where it's focus on commercial initiatives through its proprietary medical, wellness, skincare and pharmaceutical products are expected to yield more quantitative milestones across its international commercial channels.

  • Projected $9M in consolidated revenue from global operations, which is expected to be led by the anticipated sales of approximately 300,000 units of proprietary cannabinoid-based products.
  • Anticipated increase in the number of "cannabis 2.0" SKUs across all four brands, coupled with additional listings that are expected to reach 60 by the end of 2022 in Canada.
  • Expected expansion of existing evidence-based products to new medical channels and market share in Canada, motivated by the initial successful outcome of the partnership with Medical Cannabis by Shoppers™.

The Company is very optimistic about the combination of its market-tested intellectual property with its Latin American operations, which are transforming into a global supply and manufacturing infrastructure for its active pharmaceutical ingredients (API) and finished products. This is further encouraged by the progressive regulations towards medical and pharmaceutical applications of cannabinoid-based products at a global level. It is expected that the Company's international operations will achieve significant growth, fortify its brands, achieve operational efficiencies, and facilitate new international market entrances, all while advancing commercialization efforts in existing markets.

  • Anticipated marketing authorization and commercialization of its first pharmaceutical preparation into three new international markets.
  • Anticipated expansion of proprietary and evidence-based skincare and wellness topical products into new international markets including the United Kingdom, European Union, and South America.
  • New international markets expected for Aureus™ branded raw-material business units, including its standardized seeds and API, while delivering to existing partners.
  • Projected progression of innovation and advancements of its scientific platform, product pipeline and Intellectual property portfolio, which is expected to be further secured with the expected scientific evidence yielded through several clinical collaborations with leading Canadian institutions.
  • Management expected to concentrate on further operational efficiencies and optimization of the Company's commercial activities by focusing on strategic and market-tested business models with the aim of achieving self sufficiency towards the end of 2022.

Guidance webinar

On February 3 rd , 2022 at 11:00m EST, the Company will be hosting a webinar where CEO, Aras Azadian will be providing further details related to the Q4-21 and 2022 guidance and expectations. This event will feature a Q&A whereby participants will get an opportunity to submit their inquiries in advance for potential discussion during the event. To join this webinar, please register here . For more information or to submit question to the Company in advance, please contact Jordan Shafi at CHF Capital Markets.

Correction of Error in January 28, 2022 News Release

As previously announced in the Company's news release dated January 28, 2022 (the " Closing Release "), the Company closed a non-brokered private placement (the " Offering ") of convertible debenture units of the Company (the " Units "), with each Unit consisting of an aggregate of $1,000 principal amount of secured subordinated convertible debentures and 545 common share purchase warrants, at a price of $800 per Unit, for aggregate gross proceeds to the Company of approximately $1,550,400. There were a total of 1,938 Units issued on January 28, 2022 in connection with the Offering, rather than 1,626 Units as erroneously stated in the Closing Release.

About Avicanna Inc.

Avicanna is an innovative, commercial-stage, and international biopharmaceutical company focused on the development, advancement, and commercialization of evidence-based cannabinoid-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 that has led to the commercialization of more than 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 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. 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.
  • CBD Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brands, these registered, clinically-tested, derma-cosmetic products include a portfolio of functional CBD topical products.
  • 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.
  • 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 such as CBD, THC, cannabigerol ("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.

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 https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA .

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 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. 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 potential application of certain drugs, cannabinoids, compounds 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 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.

Future-oriented financial information

Financial outlook and future-oriented financial information contained in this news release about prospective financial performance, financial position or revenue is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available. In particular, this presentation contains 2022 financial outlook information for the Company, including expected revenue. These projections contain forward-looking information and are based on a number of material assumptions and factors set out above and are provided to give the reader a better understanding of the potential future performance of the Company in certain areas. Actual results may differ significantly from the projections presented herein. These projections may also be considered to contain future oriented financial information or a financial outlook. The actual results of the Company's operations for any period will likely vary from the amounts set forth in these projections, and such variations may be material. See above together with 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 for a further discussion of the risks that could cause actual results to vary. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than those for which it is disclosed herein.




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Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa

Avicanna Sells Stake in Majority-Owned Colombian Subsidiary Sativa Nativa

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 sale of its stake in Sativa Nativa S.A.S. ( "Sativa Nativa" ), which was the Company's secondary majority owned Colombian subsidiary.

The aggregate price paid by the purchaser for the Company´s shares in Sativa Nativa was approximately CAD $675,000 in addition to a potential premium of CAD $130,000 subject to the accomplishment of specific short-term milestones. The transaction allows the Company to eliminate redundancies, reduce its operational costs and generate efficiencies across its South American operations by focusing its supply chain efforts at its much larger and more operationally advanced majority owned subsidiary Santa Marta Golden Hemp ("SMGH"). The operations at SMGH have been the source of the company's Aureus-branded commercial exports to 16 countries and include the cultivation, extraction and production of cannabinoid raw materials including active pharmaceutical ingredients and seeds. SMGH is also the source of the Company's cannabinoids for most of its cosmetic and pharmaceutical preparations.

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Avicanna's Subsidiary Santa Marta Golden Hemp Completes First Commercial Export of Feminized Cannabis Seeds to Lesotho

Avicanna's Subsidiary Santa Marta Golden Hemp Completes First Commercial Export of Feminized Cannabis Seeds to Lesotho

This export marks the 16 th international market entry for Avicanna and the first export of proprietary genetics into Africa.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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Avicanna Subsidiary Santa Marta Golden Hemp S.A.S. Completes First Commercial Export of Aureus Branded THC and CBD Extracts to Portugal

Avicanna Subsidiary Santa Marta Golden Hemp S.A.S. Completes First Commercial Export of Aureus Branded THC and CBD Extracts to Portugal

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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 "), SMGH has completed its first commercial export of high concentration THC and high concentration CBD full spectrum psychoactive cannabis extracts to Portugal.

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Avicanna Reports Q1 2022 Financial Statement and Management Change

Avicanna Reports Q1 2022 Financial Statement and Management Change

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 commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce the filing of its interim financial statements for the three-month period ending March 31, 2022 (" Q1 2022 ") and the transition of the role of Chief Financial Officer.

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Mycotopia Therapies Inc. Update on Ei.Ventures and Strategic Investments

Mycotopia Therapies Inc. Update on Ei.Ventures and Strategic Investments

Mycotopia Therapies Inc. (OTC Pink: TPIA), a biopharma company focused on research, technology, and the development of medical psychedelics, and Ei.Ventures Inc., a technology company empowering mental wellness through psychoactive compounds, nutraceuticals and web 3.0, are pleased to announce several strategic investments to advance the combined company's business plan. Ei.Ventures completed its Regulation A+ financing round on March 22, 2022 after announcing plans to go public in a $360 million transaction with Mycotopia Therapies on December 07, 2021.

The combined company will be renamed PSLY.COM and focus its efforts on developing fungi and plant based Botanical Psychedelic API and Therapeutics instead of single molecule synthetic drugs with the belief that research will continue to confirm the importance of a synergistic approach. This will set PSLY.COM apart from virtually every other company in the space developing synthetic versions of Psilocybin. Ei.Ventures holds the IP for the extraction process of three botanical potential API compounds, Psilocybin, DMT and MDMA. PSLY.COM plans to further develop this API and file a Drug Master File with the FDA, which will provide the opportunity to potentially sell the API to other organizations while protecting its IP.

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Trulieve Announces Grand Opening of Hurricane, WV Medical Dispensary

Location opens on July 6 ; grand opening celebration scheduled for July 9

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the opening of its Trulieve medical dispensary in Hurricane, West Virginia . Located at 2 Putnam Village Dr. Suite 2-3 the new dispensary will open its doors at 10am on Wednesday, July 6, 2022 . This is the Company's sixth retail location in West Virginia and will be open seven days a week from 10am to 6pm .

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Curaleaf to Report Second Quarter 2022 Financial and Operational Results

Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company") a leading international provider of consumer products in cannabis, today announced that it will report its financial and operating results for the second quarter ended June 30, 2022 after market close on August 8, 2022 .

Management will host a conference call and audio webcast that evening at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company's operational and financial highlights.

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Trulieve Opening Morgantown, WV Medical Dispensary

New dispensary expands patient access to medical cannabis; grand opening specials available

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the grand opening of a new medical dispensary in Morgantown - Granville, WV . Located at 525 Granville Square, the doors open at 10 a.m. on Friday, July 1, 2022 .

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Trulieve Opening Coral Springs, FL Medical Dispensary

New dispensary expands patient access to medical cannabis; grand opening specials available

Trulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced the opening of a new medical dispensary in Coral Springs, Florida . Located at 10400 W. Atlantic Blvd., the doors will open at 9am on Friday, July 1, 2022 . The dispensary will be open seven days a week, hours are Monday through Saturday from 9am 9pm and on Sunday from 10am 8pm .

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Canopy Growth Announces Additional Exchanges with Holders of Notes

 Canopy Growth Corporation (" Canopy Growth " or the " Company ") (TSX: WEED) (NASDAQ: CGC) announced today that, further to its press release dated June 29, 2022 it has entered into an additional privately negotiated exchange agreement (the " Exchange Agreement ") with a holder (the " Noteholder ") of the Company's outstanding 4.25% unsecured senior notes due 2023 (the " Notes "), to acquire approximately C$7.25 million (approximately USD$5.6 million ) aggregate principal amount of the Notes from the Noteholders in exchange for common shares of the Company (the " Canopy Shares ") and approximately C$140,000 (approximately USD$110,000 ) in cash for accrued and unpaid interest (the " Cash Payment ").

Canopy Growth Announces Additional Exchanges with Holders of Notes (CNW Group/Canopy Growth Corporation)

Transaction Details

In accordance with the terms of the Exchange Agreement, Canopy Growth has agreed to acquire the Notes from the Noteholder for an aggregate purchase price (excluding accrued and unpaid interest which will be paid in cash as part of the Cash Payment) of C$7.17 million (approximately USD$5.5 million ) (the " Purchase Price "), which will be payable in such number of Canopy Shares (the " Share Consideration ") as is equal to the Purchase Price divided by the volume-weighted average trading price (the " VWAP ") of the Canopy Shares on the Nasdaq Global Select Market (the " Nasdaq ") for the 10 consecutive trading days beginning on, and including, June 30, 2022 (the " Averaging Price " and such period of time being the " Averaging Period "), subject to a floor price of US$2.50 (the "Floor Price") and a maximum price equal to US$3.50 , which is the closing price of the Canopy Shares on the Nasdaq on June 29, 2022 (the " Market Price ").

The Share Consideration will be satisfied by the issuance of Canopy Shares in up to two tranches as follows: (a) on the initial closing, 1,589,260 Canopy Shares (the " Initial Closing Shares ") will be issued to the Noteholder; and (b) in the event that the Averaging Price calculated over the Averaging Period is less than the Market Price, on or about July 18, 2022 (the " Final Closing "), up to such number of Canopy Shares as is equal to the excess of the Purchase Price divided by the Averaging Price over the Initial Closing Shares.

In the event that the daily VWAP of the Canopy Shares on the Nasdaq during the Averaging Period (a) exceeds the Market Price, then the daily VWAP for such trading day will instead be deemed to be the Market Price; or (b) is less than the Floor Price, then the daily VWAP for such trading day will instead be deemed to be the Floor Price, such that in no circumstances will more than 2,224,965 Canopy Shares be issuable pursuant to the Noteholder.

Together with the exchange agreements (the " Other Exchange Agreements ") entered into prior to the announcement on June 29, 2022 (collectively, the " Transaction "), a minimum of 35,662,420 Canopy Shares have been or will be issued. Pursuant to the terms of the Exchange Agreement and the Other Exchange Agreements, in no circumstances will more than 80,629,270 Canopy Shares be issuable pursuant to the Transaction.

The Transactions are being conducted as private placements, and any Canopy Shares to be issued in the Transaction will be issued pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended (the " Securities Act "), afforded by Section 4(a)(2) of the Securities Act in transactions not involving any public offering. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities described above, nor will there be any offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Canopy Growth

Canopy Growth (TSX:WEED, NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, Canopy Growth offers product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Canopy Growth's global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany . Through Canopy Growth's award-winning Tweed and Tokyo Smoke banners, Canopy Growth reaches its adult-use consumers and has built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada , the United States , and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional hemp derived CBD products to the United States through its First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands.

Notice Regarding Forward-Looking Information

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements and uncertainties include statements with respect to the benefits of the debt repurchase, the anticipated date of issuance of the Initial Closing Shares, the anticipated date of the issuance of any additional Canopy Shares following the Averaging Period and expectations for other economic, business, and/or competitive factors .

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including inherent uncertainty associated with projections; the diversion of management time on Transaction-related issues; expectations regarding future investment, growth and expansion of operations; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets and the impacts of increased rates of inflation; legal and regulatory risks inherent in the cannabis industry, including the global regulatory landscape and enforcement related to cannabis, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com and with the United States Securities and Exchange Commission through EDGAR at www.sec.gov/edgar , including the Company's annual report on Form 10-K for the year ended March 31, 2022 .

In respect of the forward-looking statements and information, the Company has provided such statements and information in reliance on certain assumptions that they believe are reasonable at this time. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Should one or more of the foregoing risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

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SOURCE Canopy Growth Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/30/c3730.html

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Centurion Announces Effective Date of Share Consolidation

Centurion Minerals Ltd. (TSXV: CTN) (the "Company") announces that the consolidation of its common shares will become effective July 6, 2022, and all common shares will be consolidated on a 2:1 basis, such that for every 2 common shares presently held, shareholders will receive 1 post-consolidated common share.

Centurion currently has 33,639,473 common shares outstanding which will, on a post-consolidation basis, result in approximately 16,819,736 common shares outstanding. There are no stock options or warrants outstanding and the Company's name and trading symbol will remain the same.

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