TORONTO, May 08, 2026 (GLOBE NEWSWIRE) -- Avicanna Inc. ("Avicanna" or "Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products is pleased to announce that all of management's nominees listed in the Company's management information circular dated April 2, 2026 ("Circular") were elected as directors of the Company at its Annual General and Special Meeting of Shareholders held May 7, 2026 ("Meeting").
Detailed results of the vote for the election of directors held at the Meeting are set out below:
| Nominee | Votes FOR | % of Votes FOR | Votes WITHHELD/ABSTAINED | % of Votes WITHHELD/ABSTAINED |
| Aras Azadian | 57,104,246 | 98.744% | 726,517 | 1.256% |
| Giancarlo Davila Char | 57,100,638 | 98.737% | 730,125 | 1.263% |
| Michael Kott | 57,100,638 | 98.737% | 730,125 | 1.263% |
| Ozgur Kilic | 57,100,584 | 98.737% | 730,179 | 1.263% |
| Lisa McCormack | 57,100,525 | 98.737% | 730,238 | 1.263% |
At the Meeting, the Company's shareholders also approved: (i) fixing the number of directors for the ensuing year at five and empowering the board of directors of the Company to adjust such number between shareholder meetings by way of resolution in accordance with the Company's constating documents; (ii) the reappointment of Ramirez Jimenez International CPAs, as the Company's auditors for the ensuing year and authorized the board of directors to fix the auditors' remuneration; and (iii) the unallocated awards and ratification awards under the Company's Omnibus Long-Term Incentive Plan, the full text of which was set forth in the Circular.
About Avicanna:
Avicanna is an international biopharmaceutical company specializing in the commercialization of proprietary and evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has established scientific and medical affairs platforms that support its four commercial stage business pillars and have resulted in the commercialization of more than fifty finished products.
- Medical Cannabis formulary (RHO Phyto): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets.
- Medical cannabis care platform (MyMedi.ca): MyMedi.ca is a medical cannabis care platform formed with the aim to better serve medical cannabis patients' needs and enhance the medical cannabis patients' journey. MyMedi.ca is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens.
- Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
- Active pharmaceutical ingredients (Aureus Santa Marta): Active pharmaceutical ingredients supplied by the Company's majority owned subsidiary Santa Marta Golden Hemp SAS ("SMGH") is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company's supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally.
SOURCE Avicanna Inc.
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For more information about Avicanna, visit our website or contact Ivana Maric by email at ir@avicanna.com.
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 related to the Company's future business operations, the opinions or beliefs of management and future business goals. 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, 2026, filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. 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.
