TORONTO, June 7, 2019 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN),
(OTCQB: KHRNF), (Frankfurt:
A2JMZC), a medical cannabis company with core operations in
Latin America reports that the Company's previously announced
agreement for the acquisition (the "Acquisition") of
NettaGrowth International Inc. ("NettaGrowth"), which at
closing will own all of the outstanding shares of a Uruguayan
company, Dormul S.A. ("Dormul"), is progressing as
planned.
On June 5, 2019, the Company
secured local regulatory approvals in Uruguay for the completion of the Acquisition.
The Company has received conditional approval for the Acquisition
from the TSX Venture Exchange Inc. ("TSXV").
At this time, there has been no change to the status of the
license applications of Dormul. The parties anticipate completing
the Acquisition by the middle of June
2019, subject to the satisfaction or waiver of all closing
conditions and receipt of all regulatory approvals.
About NettaGrowth and Dormul
NettaGrowth, through Dormul, is a Latin America export focused cannabis company
based in Uruguay, and is well
positioned to serve Brazil and the
growing Latin American market. They will employ the latest growing,
extracting and processing technologies to produce high quality
medical cannabis products for the Latin American market.
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 the
country for the cultivation, production, domestic distribution, and
international export of both THC (tetrahydrocannabinol) and CBD
(cannabidiol) medical cannabis. In May
2018, Khiron listed on the TSX Venture Exchange, becoming
the first Colombian based medical cannabis company to trade on any
exchange globally.
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. Khiron 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.
Further information on Khiron Life Sciences can be found
at www.khiron.ca.
To be added to the distribution list, please email
khiron@kcsa.com with "Khiron" in the subject line.
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. Forward-looking statements may be identified by
statements containing the words "believes", "anticipates", "plans",
"intends", "will", "should", "expects", "continue", "estimate",
"forecasts" and other similar expressions. Forward-looking
statements herein include, but are not limited to, statements
regarding the anticipated closing date of the Acquisition and the
receipt of all required regulatory approvals, among others. Readers
are cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ materially
from those contemplated by these statements. 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.
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.