Khiron Life Sciences Completes Acquisition of ILANS
Acquisition of ILANS, Colombia’s leading health network, provides Khiron with direct access to a network of 100,000 patients
TORONTO, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated medical cannabis company with its core operations in Colombia, is pleased to announce that, further to press releases issued on August 7, 2018 and October 24, 2018, the Company has completed its acquisition of the Latin American Institute of Neurology and the Nervous System (“ILANS”). ILANS is one of the most respected, fastest growing, and largest health service network providers in Colombia and Latin America.
The ILANS network represents 100,000 patients in Colombia and will position Khiron with approximately C$10.5 Million in gross revenue and C$1.8 Million of EBITDA (2017 Audited Financial Statements). The ILANS acquisition provides a secure and scalable revenue stream and opportunity to enhance profitability from introducing medical cannabis to ILANS patients.
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (TSXV: KRHN, OTCQB: KHRNF, Frankfurt: A2JMZC) (“Khiron” or the “Company”) is positioned to be the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Colombia and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) 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 the former President of Mexico, Vicente Fox.
Further information on Khiron Life Sciences can be found at www.khiron.ca.
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This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. 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 information in this press release are reasonable, such forward-looking information 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 Filing Statement 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.
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Released December 13, 2018