- Further to cultivation quotas announced on February 26, 2020, this authorization by the
Colombian Technical Quotas Authority ("TQG") allows the Company to
now produce oils for sale both domestically and abroad.
- Of the 9.3 tonnes approved, 50% are for Colombian domestic use
and 50% are allowed for export purposes.
- Export quotas allow for the manufacture of whole plant extract
for international purposes to countries such as Peru, Uruguay
and Brazil, thereby accessing to a
medical cannabis market of $1.4
Billion. (Source: New Frontier Data)
- Domestic quotas represent a further milestone in the Company's
stated timeline to bring the first medical cannabis products to
market in Colombia, targeting
patients with two priority conditions; chronic pain and nausea
associated with chemotherapy.
TORONTO, March 1, 2020 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF),
(Frankfurt: A2JMZC), a vertically
integrated cannabis leader with core operations in Latin America, today announced that further to
cultivation quotas announced on February 26,
2020, it has received manufacturing quotas from the
Colombian Technical Quotas Group ("TQG"). These quotas authorize
the Company to manufacture high-THC whole plant extract for both
export and domestic purposes.
"Receipt of these quotas, together with the previously disclosed
cultivation quotas, moves us measurably closer to our priority of
serving patient needs in Colombia,
and further jurisdictions in Latin
America. With our fast growing ILANS clinics and recently
launched Zerenia clinic, we have a large and engaged patient
network for chronic pain and nausea related conditions to
immediately serve through medical cannabis." Comments Juan Diego Alvarez, Khiron Vice-President of
Regulatory Affairs.
Based on high-THC medical cannabis demand, the Company will be
able to produce approximately an equivalent of 1,000,000 bottles of
high-THC formulation for medical use domestically and abroad. The
Company expects to receive final GEP laboratory certification in
the near future.
About Khiron Life Sciences Corp.
Khiron Life Sciences
Corp. is positioned to be the dominant integrated cannabis company
in Latin America. Khiron has core
operations in Latin America and is
fully licensed in Colombia for the
cultivation, production, domestic distribution, and international
export of both tetrahydrocannabinol (THC) and cannabidiol (CBD)
medical cannabis. The company delivers best in class regulatory
compliance, has the first approved set of CBD cosmetic products on
shelf in Colombia, and is currently facilitating testing to
meet and surpass all license requirements for commercial cannabis
derived products.
With a focused regional strategy and patient oriented
approach, the Company combines global scientific expertise,
agricultural advantages, branded product market entrance
experience and education to drive prescription and brand
loyalty to address priority medical conditions such as chronic
pain, epilepsy, depression and anxiety in the Latin American
market of over 620 million people. The Company is led by Co-founder
and Chief Executive Officer, Alvaro
Torres, together with an experienced executive team,
and a knowledgeable Board of Directors that includes former
President of Mexico, Vicente Fox.
Visit Khiron online at www.khiron.ca and on Instagram
@khironlife
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. All information contained herein
that is not historical in nature may constitute forward-looking
information. Khiron undertakes no obligation to comment analyses,
expectations or statements made by third-parties in respect of
Khiron, its securities, or financial or operating results (as
applicable). Although Khiron believes that the expectations
reflected in forward-looking statements in this press release are
reasonable, such forward-looking statement has been based on
expectations, factors and assumptions concerning future events
which may prove to be inaccurate and are subject to numerous risks
and uncertainties, certain of which are beyond Khiron's control,
including the risk factors discussed in Khiron's Annual Information
Form which is available on Khiron's SEDAR profile
at www.sedar.com. The forward-looking information contained in
this press release is expressly qualified by this cautionary
statement and are made as of the date hereof. Khiron disclaims any
intention and has no obligation or responsibility, except as
required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
United States Disclaimer
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities
in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the
United States or to U.S. Persons
(as such term is defined in Regulation S under the U.S. Securities
Act) unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this press release.
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SOURCE Khiron Life Sciences Corp.