Khiron Life Sciences Corp (CVE:KHRN) Only Revenue Generating Colombian LP
Chris Naprawa, the President of Khiron Life Sciences Corp (CVE:KHRN) (OTCMKTS:KHRNF) (FRA:4KH), visited Midas Letter to address the internet rumours speculating that the company has not registered its seeds with the Colombian regulators when, in contrast, Khiron has five separate strains registered at this moment with further strains soon to start the process. While misguided rumours circulate online, Khiron is still the dominant integrated cannabis company in Colombia. The company’s potential addressable patient network is over 1 million individuals represented by over 5,000 doctors through six medical association endorsements. Khiron’s Wellness line, Kuida, also has distribution agreements with the largest retail outlets throughout Colombia, with over 176 points of sale. The Khiron President is not focused on the summer doldrum market selloff and is concentrating his efforts towards the company’s patients and consumers by executing on growing the business.
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Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such forward-looking information includes that Khiron Life Sciences Corp will be a big, successful company in the cannabis sector; that cannabis use and sales will grow and KHIRON’s sales along with it; KHIRON’s intended acquisition of various foreign companies and expansion into the European and South and North American markets; that cosmeceuticals is and will continue to be a fast growing and profitable sector of the cannabis industry; and that it will be able to carry out its business plans.
Readers are cautioned to not place undue reliance on forward-looking information. Forward looking information is subject to a number of risks and uncertainties that may cause actual results or events to differ materially from those contemplated in the forward-looking information, and even if such actual results or events are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on KHIRON. Such risks and uncertainties include, among other things: that a regulatory approval that may be required for the intended acquisitions and subsequent sales are not obtained or are obtained subject to conditions that are not anticipated; growing competition for intended acquisitions in the cannabis industry; potential future competition in the markets KHIRON operates for sales; competitors may quickly enter the industry; general economic conditions in the US, Canada and globally; the inability to secure financing necessary to carry out its business plans; competition for, among other things, capital and skilled personnel; the possibility that government policies or laws may not permit legal cannabis sales or growth or that favorable laws in place may change; KHIRON not adequately protecting its intellectual property; interruption or failure of information technology systems; the cannabis market may not grow as expected; KHIRON’s technology may not achieve the expected results and its accomplishments may be limited; even if it is granted patents, it may not have success at licensing its technologies or sell its products at the rate expected; planned acquisitions and partnerships may not materialize because of inability to agree on terms with prospective partners or targets; KHIRON’s business plan also carries risk, including its ability to comply with all applicable governmental regulations in a highly regulated business; incubator risk investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal and foreign laws; and other regulatory risks relating to KHIRON’s business, financings and strategic acquisitions, including securities laws, trade rules, and foreign country regulation that is not the same as Canadian or US regulations.
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James West: Hey, I’m joined now by Chris Naprawa, President of Khiron Life Sciences, trading on the TSX Venture under the symbol KHRN. Chris, welcome back.
Chris Naprawa: Glad to be here.
James West: You bet. So Chris, you know, we’re in the summer doldrums, and markets in a broad selloff pattern. A lot of people are questioning the viability of the cannabis sector as a whole, as they do every summer during the summer doldrums. From your perspective, what is Khiron doing in this time of general market weakness?
Chris Naprawa: Yeah, so, well, we’re focusing on what we always do, which is patients and consumers. We’re focusing on execution, we’re trying to build our business. You know, this is the third time we’ve had a significant selloff in the last eight or nine months; we had one in October that was about 30 percent, December we were down 44 percent, always coming back.
You know, the great news is that as a company, we’ve never been in a better position. We’re a stronger company than we were a week ago, we’re a stronger company than we were two months ago; we’ve never had a better cash position. Revenue numbers continue to climb. So we’re very excited about the position that we’re in right now.
James West: During periods of market weakness broadly, it tends to generate a lot of disinformation from malicious actors on the internet – I think we call them trolls – who tend to take circumstantial, flimsy sort of evidence that they then craft a message of absolute falsehood about companies in an effort to explain why the company is selling off. And this is the case with Khiron; I’ve seen that people are suggesting that you’re not registered duly with the government of Colombia, and that your crops are under siege, and it’s like, but we know this is not the case. So what’s going on?
Chris Naprawa: Yeah, well, I think you hit the nail on the head. I think, you know, trolls can do some real damage. They can cause some real losses for real investors and real people, and this is money that they worked hard for. So for instance, right now there’s a rumour going around that we haven’t registered any of our seeds, and we didn’t go ahead and put out a press release about our registration because we want the narrative to be about patients and consumers and brands and the durability of that business that we’re bringing.
But we do have five registered; in fact, just right now, we just put that registration up on our website, investors.khiron.ca, under the Gallery, you can go and have a look at it. I’ve got a copy for you here, James, to share with you as well. And you know, look for more strains to be registered. And that’s not really part of the story. But when people try to put that together and they say, well, the crop has mold, or it has this or it has that, you know, the best one this week – the absolute best one this week – is that we were putting Vaseline in our products in Mexico.
Well, that’s interesting, since we’re not selling anything in Mexico right now, nor do we have any Vaseline.
James West: Right.
Chris Naprawa: But, you know…
James West: Why would somebody put Vaseline in a cannabis product?
Chris Naprawa: I’ll tell you, you know, I know where I’d put it if I found these people.
James West: [laughter] I’m not going to go down there.
Chris Naprawa: But you know, and we can sit here and laugh about it, but it really does cause people harm, and you know, we try very, very hard to be 100 percent transparent and communicate everything we can. We update that investor website with photos all the time; you know, maybe we’ll go the suggestion of going to some live video from time to time on there so people can see what’s happening, because it causes a lot of speculation, a lot of concern.
Obviously, there’s a lot of external news in the market right now that, you know, it’s not helpful when people find out that guys are breaking the rules and guys are doing things differently. In these brand-new Klondike-type industries, you get all types.
James West: Right.
Chris Naprawa: But it doesn’t mean that everyone’s doing that.
James West: Yeah, sure. Okay, so you know, Colombia especially, there’s starting to be a lot of new companies organizing, but it’s not like you can just hang up a shingle and that’s it, you’re in business in Colombia, either, is it? I mean, there’s really no other company that I’ve seen coming out of Colombia that I would consider a comp for Khiron, because Khiron is so advanced. It’s got licenses, it’s got production, it’s got products in different countries; what other Colombian company has that?
Chris Naprawa: We don’t know of any, and most people want to keep the conversation on grams and tonnes and square feet, and we’re not about that. We’re about servicing 620 million people in Latin America, and now the company’s never been in a better position to do just that. You know, a lot of the recent hires that we’ve made, and a lot of the businesses that we’ve acquired, make the business much, much stronger. And that infrastructure that we’re building of distribution and stores and clinics and really building the infrastructure to make real sales, that has real, enduring value, and that’s what we want people to focus on.
James West: You bet. All right, Chris, so what should investors do if somebody puts some information in front of them that alleges that X, Y or Z is happening to Khiron? Can they pick up the phone and call Khiron?
Chris Naprawa: They can always just email us. Our investor website contact information is all there; I do my very best, if not me, somebody else in the company, to respond to every single one, even the haters, Jim. We even respond to the haters.
James West: Great.
Chris Naprawa: And you know, this is what we do in our spare time, because you know, without our shareholders, we don’t have a company.
James West: Right.
Chris Naprawa: So we respect each and every one of them.
James West: Wow. Okay, well, that’s a great attitude, Chris, and we’ll be down there to shoot some growing cannabis without Vaseline on it, in about 30 days’ time. So stay tuned for that. We’ll come back to you soon. Chris, thanks very much for joining me today.
Chris Naprawa: Thanks, Jim.
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