Avicanna Announces Late Filing of Financial Statements and Application for Management Cease Trade Order

Auditor Licensing & Personnel Issues Delays Issuance of Audit Opinion
The Company expects to file within 2 weeks

TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Avicanna Inc. (“Avicanna” or “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products, announces that it will miss the deadline of March 31, 2025 (“Filing Deadline”) to file the Company’s audited consolidated financial statements for the year ended December 31, 2024 as required by National Instrument 51-102 and the Company’s Management’s Discussion & Analysis for the year ended December 31, 2024 (the “Documents”). The Company’s auditor, Ramirez Jimenez International CPAs (“RJI”) informed the Company that although the audit work is substantially complete and they are prepared to issue the audit opinion, they are not able to do so prior to the filing deadline of March 31, 2025, due to unexpected matters.

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