Biopharmaceutical company Avicanna Inc. AVCN AVCNF said Monday that it has finalized exports of CBG and CBD isolates into the United States through its Colombian subsidiary Santa Marta Golden Hemp S.A.S.
The Toronto-based company also completed the export of CBD isolate into Germany, according to a press release.
Avicanna said it launched a pilot tracking system for the export of its active pharmaceutical ingredient products under a deal with TruTrace Technologies Inc. TTT TTTSF.
Santa Marta Golden Hemp received a commercial and industrial cultivation quota for 12,264 psychoactive cannabis plants from the Colombian Ministry of Justice and Law, according to Avicanna.
The cannabinoids are cultivated, extracted and purified through Avicanna's vertical integration at Santa Marta Golden Hemp.
The products, including feminized seeds, advanced formulations and CBD, CBG and THC API products, are included in the Aureus product portfolio.
Avicanna "continues to activate business units [and] establish our position in the cannabinoids industry by pioneering our way into new markets," CEO Aras Azadian told Benzinga.
"We believe this commercial export of CBG into the U.S. is the first one ever completed from Latin America, and it validates our leadership position with cultivation, extraction, and purification of rare cannabinoids."
Avicanna recently posted a year-over-year revenue increase of 4,181% in its second-quarter report.
Courtesy photo.
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