Avicanna Announces Extension of Term Loan
31 Outubro 2022 - 6:00PM
Avicanna Inc. ("
Avicanna" or the
"
Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a
commercial stage, international biopharmaceutical company focused
on the commercialization of evidence-based, cannabinoid based
products, announces that it has entered into a extension agreement
(the “
Extension Agreement”) in connection with its
senior secured term loan previously announced on August 19, 2021
(the “
Term Loan”). In accordance with the
Extension Agreement, the maturity date of the Term Loan was
extended by five months, from October 19, 2022 to March 19, 2023
(the “
New Maturity Date”).
Pursuant to the Extension Agreement, the Company
will continue to make interest payments as required by the original
loan agreement in respect of the Term Loan, and will also make
monthly repayments of principal beginning in November, 2022 and
ending in February, 2023, following which the outstanding principal
on the Term Loan will come due on the New Maturity Date. The Term
Loan continues to bear interest at 5% per annum, calculated
monthly.
About Avicanna Inc.
Avicanna is a commercial-stage international
biopharmaceutical company focused on the advancement and
commercialization of evidence-based cannabinoid-based products for
the global medical and pharmaceutical market segments. Avicanna has
an established scientific platform including R&D and clinical
development that has led to the commercialization of more than
thirty products across various market segments:
Medical Cannabis & Wellness
Products: Marketed under the RHO Phyto™ brand these
medical and wellness products are a line of pharmaceutical-grade
cannabinoid products containing varying ratios of cannabidiol
(“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio
contains a full formulary of products including oral, sublingual,
topical, and transdermal deliveries that have controlled dosing,
enhanced absorption and stability studies supported by pre-clinical
data. The formulary is marketed with consumer, patient and
medical-community education and training.
Pharmaceutical Pipeline:
Leveraging Avicanna’s scientific platform, vertical integration,
and real-world evidence, Avicanna has created a pipeline of
patent-pending drug candidates that are indication-specific and in
various stages of clinical development and commercialization. These
cannabinoid-based drug candidates look to address unmet medical
needs in the areas of dermatology, chronic pain, and various
neurological disorders. Avicanna’s first pharmaceutical preparation
(Trunerox™) is in the drug registration stage in South America.
Click to watch Avicanna’s Corporate Video
2022
SOURCE Avicanna Inc.
Stay Connected
For more information about Avicanna, visit
www.avicanna.com, contact Ivana Maric by email at info@avicanna.com
or follow us on social media on LinkedIn, Twitter, Facebook or
Instagram.
If you are a Healthcare Professional and would
like to learn more about using medical cannabis in your practice,
please visit Avicenna Academy.
The Company posts updates through videos from
the official Company YouTube channel.
Cautionary Note Regarding
Forward-Looking Information and Statements
This news release contains “forward-looking
information” within the meaning of applicable securities laws.
Forward-looking information contained in this news release may be
identified by the use of words such as, “may”, “would”, “could”,
“will”, “likely”, “expect”, “anticipate”, “believe, “intend”,
“plan”, “forecast”, “project”, “estimate”, “outlook” and other
similar expressions. Forward- looking information contained in this
news release includes, without limitation, statements with respect
to the debt obligations and future payments on the Term Loan.
Although the Company believes that the expectations and assumptions
on which such forward looking information is based are reasonable,
undue reliance should not be placed on the forward-looking
information because the Company can give no assurance that they
will prove to be correct. Actual results and developments may
differ materially from those contemplated by these statements.
Forward looking information is subject to a variety of risks and
uncertainties that could cause actual events or results to differ
materially from those projected in the forward-looking information.
Such risks and uncertainties include, but are not limited to,
current and future market conditions, including the market price of
the common shares of the Company, and the risk factors set out in
the Company’s annual information form dated March 31, 2022, filed
with the Canadian securities regulators and available under the
Company’s profile on SEDAR at www.sedar.com. The statements in this
news release are made as of the date of this release. The Company
disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events
or results or otherwise, other than as required by applicable
securities laws.
Avicanna (TSX:AVCN)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Avicanna (TSX:AVCN)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024