Santa Marta Golden Hemp S.A.S. (SMGH), a subsidiary of Avicanna (TSX: AVCN), has completed its first export of purified CBD from Colombia to Canada for research and development purposes.
Health Canada issued three authorizations to SMGH on June 28 to allow for the import of CBD isolates and cannabis resin into Canada from Colombia for scientific purposes. The CBD isolates cleared Colombian border procedures and were exported from Colombia on August 22, according to a company statement.
“We are thrilled to complete our first export and proud to be doing so into Canada. This is another validation of Avicanna’s ability to execute on all of its verticals and demonstrates the success and advantage of Avicanna’s cultivation infrastructure, extraction and purification capacity, and regulatory expertise,” CEO Aras Azadian stated.
Avicanna Focuses on Plant-Derived Cannabinoid Products
Avicanna is an Ontario-based firm engaged on the development, manufacturing and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.
The company’s two majority-owned subsidiaries SMGH and Sativa Nativa S.A.S., both located in Santa Marta, Colombia, are the base for Avicanna’s cultivation activities. The two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including CBD and tetrahydrocannabinol (THC).
Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre in Toronto.
The company’s scientific team develops products, and the company has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.