- Khiron the only LP with a 2019 quota that authorizes the
Company to manufacture high-THC whole plant extract and produce
customized medical cannabis prescriptions for domestic use
- 56.5 tons, or 21.84% of global supply of high THC medical
cannabis for commercial and scientific purposes assigned to
Colombia for 2020 by International
Narcotics Control Board ("INCB"), the entity responsible for the
implementation of the United Nations drug conventions
- This permit represents the highest annual cannabis quota in
Colombian history, and the world's second largest allocations for
2020, based on a total global quota of 258 tons allocated by
INCB
- Guarantees commercial and scientific production of medical
cannabis in Colombia for 2020
- Authorization for domestic and export purposes supports the
Company strategy, following commercial quotas allocated to Khiron
by the Colombian Technical Quotas Group ("TQG")
- INCB allocation allows the country to apply for additional
commercial quotas during 2020, should demand exceed initial
projections
TORONTO, Dec. 30, 2019 /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, welcomes the Colombian government's announcement
that the country has been awarded a record high quota of 21.84% of
worldwide high -THC for commercial and scientific purposes. The
quota, which is awarded by the International Narcotics Control
Board ("INCB"), an independent body for the implementation of the
United Nations Drug Convention, affirms Colombia's role as one of the most important
supply sources for the licensed global cannabis economy.
Established in 1961, the INCB, who's members are made up of
global government agencies and representatives of the World Health
Organization, plays an important role in monitoring enforcement of
restrictions on narcotics and psychotropics and in deciding which
jurisdictions should be regulated. The quota allocation of
56.5 tons of dry flower for Colombia in 2020, affirms that the
international community governing legalized narcotics recognizes
the important work of the Colombia
government in establishing an effective regulatory framework to
support national and worldwide cannabis demand.
Juan Diego Alvarez, Khiron Vice
President of Regulatory Affairs, stated "As the only company with
an authorized high-THC quota for cultivation in 2019 to meet the
needs of patients in Colombia, we
welcome the INCB announcement and congratulate the Government of
Colombia on the achievement. The
2020 quota guarantees access to new medical products that can
transform patients' lives."
Khiron Life Sciences is currently the only cannabis company in
Colombia with an allocation of
quota to manufacture psychoactive medical cannabis for commercial
domestic purposes, and one of the few companies also authorized to
meet export demand. As previously announced, the authorization is a
result of commercial quotas allocated to Khiron by the Colombian
Technical Quotas Group ("TQG"), which permit the Company to
cultivate and commercialize up to 560 kg – or approximately, 65,000
units – of psychoactive, high-THC cannabis in 2019. As of
April 2019, Khiron has applied for
additional commercial quotas for high-THC cannabis for 2020. TQG
decisions on commercial quotas for the year are anticipated to be
announced by February 2020.
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.
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.
Further information in respect of the Company can be found
at www.khiron.ca.
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SOURCE Khiron Life Sciences Corp.