Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) a biopharmaceutical company focused on cannabinoid-based products announced that it has completed product registration and the first commercial export of its Pura Earth branded derma cosmetic products in Ecuador.
The CBD dermacosmetics have been registered and approved for sale by the National Agency of Regulation, Control and Sanitary Surveillance of Ecuador (ARCSA).
The initial export has four unique ones Pura earth Branded products manufactured in Colombia under GMP conditions and through a partnership with. be commercialized and distributed Spenta SA.
Pura Earth’s product formulations have been developed and optimized to deliver CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skin care.
“After years of research, development and clinical development of what we believe to be the most advanced line of CBD skin care products, we are excited to expand our distribution capabilities to Ecuador. While this is an early stage for the Latin American market, we believe it shows the potential of Pura Earth as the leading skin care brand in the region, ”said Lucas Nosiglia, President of Avicanna LATAM, after registering the products.
In August, Avicanna raised approximately $ 2.12 million through the completion of a previously announced secured loan finance.
In July, the company signed a supply agreement with a Brazilian pharmaceutical company through its majority Colombian subsidiary. Santa Marta Golden Hemp SAS.
The first orders under the deal are expected to bring Avicanna sales of around CAD 4 million (US $ 3.2 million).
Avicanna shares were traded up 1.48% to $ 0.70 per share as of this writing, Friday afternoon.