Ann: Avecho to present at NWR Virtual Healthcare Conference, page-2

An upbeat presentation from Paul Gavin today.

• Re cash reserves, he said that additional capital is currently being finalized.

• Intention is to commence AVE’s Phase 3 oral TPM/CBD Phase 3 trial in insomnia mid-year. Awaiting clinical supply. Capsule has now passed 18 month stability.

• Six other clinical trials funded by other parties also to commence this year:

   -  US-based Perland Pharma will test the oral TPM/CBD capsule in osteoarthritis
   -  US-based Perrigo Pharma will test a topical TPM/ibuprofen gel for pain
   -  Australia-based Lambert Initiative will conduct four trials:
-  topical TPM/CBD in arthritis (larger trial following success in initial trial)
-  topical TPM/CBG in arthritis
-  oral TPM/CBD in novel indication, potentially lower dose – to commence mid-year
-  oral TPM/CBD in second novel indication, potentially lower dose – to commence Q3

• Still working with Team SAAS, albeit with delays. Formulation work has been done to further increase effect, speed of onset and duration.

• There has been further interest by parties in the indications of pain, anxiety and Prader-Willi syndrome.

• Further TPM oral and topical formulations have been replicated in each of THC, CBG, CBC and CBN

• Discussions have ben held with Big Pharma, who are keenly watching the pharmaceutical cannabis space, re the oral TPM/CBD soft-gel product.  Said that success in this year’s Phase 3 trial would mean a high chance of picking up a Big Pharma deal.

• More partnering/licensing deals said to be coming.