Khiron Life Sciences Corp (CVE:KHRN) Commercializes 17 New Cannabis Strains
Khiron Life Sciences Corp (TSX-V: KHRN) (OTCQB: KHRNF) (Frankfurt: A2JMZC) has received approval from the National Cultivar Registry and the Technical Direction of the with Colombian Agricultural Institute (“ICA”) for the commercialization of 17 stains of cannabis. This days after Chris Naprawa made an appearance on Midas Letter addressing rumours circulating that the company failed to register its seeds with the Colombian regulators. In truth, Khiron had five separate strains registered and with this most recent announcement have since added another 17 bringing the total number of registered strains to 22.
The additional strain approvals resulted from successful ICA operational reviews allowing new plants to be cultivated at Khiron’s facility near Ibague, Colombia. The initial harvest of the newly approved strains are expected to be used in producing CBD extract and will grant the Company ability to commercialize its medical cannabis products sales in Q3 2019. Growing a greater variety of cannabis genetics grants Khiron abilities to meet the varying demands and desires of its current and future patients.
Khiron is positioned as the dominant integrated cannabis company in Colombian within the multi-billion global market with first mover advantage in LatAm. 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. New cannabis strains will provide the company’s large network of patients access to CBD and the medical benefits of the cannabis plant.
On top of Khiron’s large doctor network throughout Latin America, Khiron also signed a LOI with Colombia’s largest pharmacy chain with over 900 pharmacies across 200 cities and municipalities across the country. On completion of the agreement, Khiron will have established distribution capabilities allowing the company to offer patients the option for pick-up or home delivery of their medical cannabis formulations. Khiron’s direct to patient distribution method is anticipated to deliver higher margins than other producers solely focused on wholesale export distribution models.
Khiron are also working diligently towards receiving further strain approvals for its proprietary psychoactive cannabis varieties with higher THC quantities. When the THC strains are approved, Khiron will move directly to demonstrating an established market demand and distribution method for commercial quota. This would make Khiron the first company in Colombia to be awarded commercial quotas for THC.
Already poised as the leading Latin American cannabis company, Khiron have now expanded its cannabis strain library aiding with its already low-cost extract capabilities. This kind of consistent growth further supports the company’s commanding position in each of its medical cannabis and cosmeceutical categories.
Midas Letter will have further coverage as events warrant.
“Khiron has continually focused on expediting our timing to market, while ensuring the highest standards of product quality and consistency. With these approvals secured, Khiron is now poised to introduce its medical cannabis products in Colombia by the third quarter of this year, which once again, demonstrates the Company’s in-depth understanding of patient needs, its strategic and evidence-based approach, unparalleled regulatory knowledge, and its leadership role in the Latin American market.” – Alvaro Torres, CEO
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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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