Avicanna, through its cultivation subsidiary Santa Marta Golden Hemp S.A.S., it has completed the first export feminized of hemp seeds to the US and completed the first sale of seeds for net revenue of CAD$380,000 .
"The export is the first ever export of cannabis seeds from Colombia and was accomplished thanks to the support and coordination of the Colombian Institute of Agriculture (the "ICA"), and the Ministries of Agriculture and Justice for Colombia," the team with the company explains.
"The seeds sold were produced from Avicanna's CBG dominant cultivar registered by SMGH in Colombia . A total of seven million (7,000,000) seeds have been successfully imported into the US so far for sale. Initial sales have resulted in revenue of CAD$380,000 , with more revenue expected to be generated from several pending transactions."
"SMGH has current inventory of an additional seventy-five million (75,000,000) premium, stabilized and feminized seeds available for export and sale. Avicanna intends to leverage the expertise of its breeding and seed production division, branded as Avesta Genetica, to produce seeds for a global marketplace in which there is increasing demand at both a business-to-business and business-to-consumer level for hemp and cannabis seeds for growing. The Avesta Genetica program continues to evolve its already advanced catalogue with genetics expressing rare cannabinoids and advancing its commercial genetics expressing commercial cannabinoids such as CBD and THC."
Aras Azadian , CEO of Avicanna said: "We are proud to see another one of our business units mature into revenue generation as a part of our diversified income streams within the global marketplace. Since inception we have focused on the development and advancement of our intellectual property, which ranges from seeds to finished products, and are happy to see the industry continue to evolve to find utility for our IP.