Avicanna Announces Changes to its Board of Directors
Rhea-AI Summary
Avicanna (OTCQX: AVCNF) announced a board change effective April 1, 2026: John McVicar resigned and Ozgur Kilic was appointed to the Board of Directors. Mr. Kilic brings more than 20 years of senior finance and operational experience across global pharma companies.
The company said Mr. Kilic holds dual bachelor degrees and an MBA, plus ACMA and CGMA designations, and intends to support Avicanna’s planned U.S. expansion and international growth while contributing to its pharmaceutical pipeline and commercial portfolio.
AI-generated analysis. Not financial advice.
Positive
- Board appointment effective April 1, 2026
- New director with >20 years pharma and finance experience
- Director qualifications include MBA, ACMA and CGMA
Negative
- Board resignation of John McVicar effective April 1, 2026
News Market Reaction – AVCNF
On the day this news was published, AVCNF gained 7.37%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, April 06, 2026 (GLOBE NEWSWIRE) -- Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialisation of plant-derived cannabinoid-based products announces effective Thursday April 1, 2026 the resignation of John McVicar and pleased to announce the appointment of Mr. Ozgur Kilic to the Board of Directors of the Company.
Mr. Kilic is an experienced global business executive and Chief Executive Officer with a background as a strategic Chief Financial Officer and Chief Operating Officer with more than 20 years of experience at various global public companies and private equity backed pharma companies across the US, UK, Italy, and Switzerland. Mr. Kilic is a graduate of Koc University (BA, Business Administration; BA, History) and Stuttgart Institute of Management and Technology (MBA, Finance & Investment) and is qualified as Associate Chartered Management Accountant (ACMA) and Chartered Global Management Accountant (CGMA) by the Chartered Institute of Management Accountants.
"I am honored and excited to join the Board of Directors at Avicanna at such a pivotal time in the company's evolution. Through the hard work, resilience, and dedication of its management team, the company is reaching a meaningful value inflection point, driven by a differentiated portfolio of existing products and a promising pharmaceutical pipeline focused on addressing significant unmet medical needs. I look forward to contributing to Avicanna’s continued growth, especially its plans to expands its presence in the United States and strengthens its international footprint, delivering innovative therapies that can improve patient outcomes worldwide."
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.
Stay Connected
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.
