Avicanna (AVCN) AGM 2026 summary

Opening remarks and agenda

• Meeting conducted virtually via Lumi platform, enabling live and proxy voting.

• Chairman, secretary, and scrutineer appointed; quorum confirmed with 54 shareholders representing 47.12% of shares.

• Notice of meeting and voting procedures explained; proof of notice and proxies filed.

Financial performance review

• Revenue for 2025 was CAD 25.5 million, with gross profit of CAD 13.5 million and a 53% gross margin, up from 48% in 2024.

• Operating expenses decreased by CAD 1.5 million (9% reduction), and adjusted EBITDA improved by 71% year-over-year.

• Net loss reduced by 40% to CAD 2.7 million; company operates with zero debt and improved working capital by 23%.

• Achieved adjusted EBITDA positivity in Q4 2025; only CAD 1 million raised in 2025 versus CAD 4.8 million in 2024.

Board and executive committee updates

• Five directors elected: Aras Azadian, Giancarlo Davila Char, Michael Kott, Ozgur Kilic, and Eileen McCormack.

• Ramirez Jimenez International CPAs reappointed as auditors until the next AGM.