Avicanna Inc. has updated and amended its collaboration with Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, and initiated prioritized pre-clinical studies on the RHO Phyto formulations that are commercialized in Canada and Colombia. Additionally, the Company provides an update on research projects with the University of Toronto and Thompson Rivers University as well as a change to its management team. Initiation of pre-clinical studies on RHO Phyto in collaboration with University of Guelph: Further to Avicanna's previous announcement regarding Dr. Khokhar's research team at the University of Guelph being awarded a Natural Sciences and Engineering Research Council of Canada ("NSERC") Alliance grant focused on the neurobiological underpinnings of cannabis toxicosis with the aim to evaluate Avicanna's formulations in the treatment of cannabis-induced toxicosis, the project is now being expanded. The expansion of the project includes pharmacokinetic and behavioural testing of Avicanna's RHO PhytoTM formulations as well as studying their efficacy in alleviating neuropathic pain and addiction. The data generated from the research will help guide Avicanna's clinical development, including the pharmaceutical and real-world evidence studies related to the RHO Phyto formulations, and will provide additional information to health care practitioners who are recommending and prescribing the products in several markets. COVID-19 drug candidate project update: The research collaboration with the University of Toronto on the development of a drug candidate to treat lung inflammation caused by COVID-19, with funding support from an NSERC Alliance grant and a MITACS Alliance grant, is complete. The peer-reviewed grants were focused on the development of a cannabinoid formulation to be used for further research on COVID-19. The physical and chemical characterization of the optimized cannabinoid formulation is complete, which included its stability and drug release properties in relevant conditions.