Avicanna Inc (OTCMKTS:AVCNF) Stock Continues to Trade in a Range

Shares of Avicanna Inc (OTCMKTS:AVCNF) was in a narrow last week. Here are the latest developments.

Market Action:

On Friday, AVCNF stock remain unchanged at $0.6628 with more than 5 shares, compared to its average volume of 2.59K shares. The stock has moved within a range of $0.6628 – 0.6628 after opening the trade at $0.6900.

Major Trigger

Biopharmaceutical company focusing on development, manufacturing and commercialising plant-derived cannabinoid-based products, Avicanna Inc (OTCMKTS:AVCNF), on October 22, 2021 announced that its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S has finished commercial exports of CBD Isolate and CBD full spectrum psychoactive cannabis resin to a Commercial Derivatives.

A leading Chilean homeopathic and naturopathic pharmaceutical company, Cannabis Derivatives, also known as Aureus, are cultivated and manufactured by SMGH.

SMGH gives pharmaceutical and cosmetic companies with cannabinoids including CBD, THC as well as rare cannabinoids like CBG. The fresh export to Chile is recurring and part of relationship with established homeopathic Chilean company.

Avicanna’ssupply chain business units are located in Santa Marta, Colombia and dedicated to giving consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline.

Under its Aureus brand, standardized cannabis extracts as well as feminized seeds are being done available for cultivation and pharmaceutical partners around the world. Avicanna’s supply chain business is also advantageous as it benefits from federally regulated legislation in Colombia. This is where the firm has less competitive psychoactive extracts including CBD and THC crude oil for meeting growing demands.

Avicanna is Canadian biopharmaceutical companyand conducts its research in Canada including R&D headquarters in the Johnson & Johnson Innovation Centre.

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