- Colombia was granted a total
production quota of 56.2 tons of medical cannabis for 2020 by the
International Narcotics Control Board ("INCB"), the entity
responsible for the implementation of the United Nations drug
conventions. This represents 21.9% of the world´s legal global
supply of high THC medical cannabis.
- The Company will begin cultivation activities immediately in
its existing state-of-the-art facility near Ibague, Colombia, with its already-registered
strains.
- The Company will be notified of the accompanying extraction
quota by the Ministry of Health of Colombia, which will define allocation between
domestic production and international exports for 2020.
TORONTO, Feb. 26, 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 it has
received 2020 commercial cultivation quotas from the Colombian
Technical Quotas Group ("TQG"), to cultivate psychoactive cannabis
plants for national and export commercial purposes in 2020
utilizing the previously announced 22 strains already registered
with the ICA's National Cultivar Registry.
"We are very satisfied to have been awarded 17% of Colombia`s
total production quota for 2020. This continues to demonstrate our
regulatory expertise and the trust that the Government of
Colombia, and the Ministry of
Justice has on our business plan. For the last 3 years, Khiron has
been a leader in Colombia by
driving regulatory milestones which place the Company on a path to
imminent sales of medical cannabis in Colombia and improving the lives of million of
patients in the country, Latin
America, and Europe."
Comments Alvaro Torres, CEO Khiron
Life Sciences Corp.
"With a Q3 cash balance of $47.9
million and all facilities complete, we are ready to begin
cultivation activities immediately."
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.