Avicanna Completes Registration And Commercial Export Of Pura Earth CBD Brand In Ecuador

Avicanna Inc. AVCN AVCNF a biopharmaceutical company focused on cannabinoid-based products announced that it has completed product registration and its first commercial export of its Pura Earth branded dermacosmetics products in Ecuador.

The CBD dermacosmetics were registered and approved for sale by the National Agency of Regulation, Control and Sanitary Surveillance of Ecuador (ARCSA).

The initial export includes four unique Pura Earth branded products that have been manufactured in Colombia under GMP conditions and will be commercialized and distributed through a partnership with Spenta S.A.

The Pura Earth product formulations have been developed and optimized to deliver CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare.

“After years of R&D and clinical development of what we believe is the most advanced line of CBD skincare products, we are thrilled to expand our distribution capabilities into Ecuador. Although this is an early stage for the Latin American market, we believe this shows the potential of Pura Earth as a leading skincare brand in the region,” stated Lucas Nosiglia, president of Avicanna LATAM, after the registration of the products.

In August, Avicanna raised roughly $2.12 million by closing a previously announced secured term loan financing.

And in July, the company wrapped up a supply agreement with a Brazilian pharmaceutical company through its majority-owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. 

First orders under the deal were projected to yield around CA$4 million ($3.2 million) in revenues for Avicanna. 

Price Action

Avicanna’s stocks were trading up 1.48% at $0.70 per share at the time of this writing, Friday afternoon.