Khiron Welcomes EU Trade Deal with Latin American Countries
TORONTO, July 1, 2019 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a cannabis company with core operations in Latin America, applauds the EU-Mercosur Trade Agreement announced between the European Union and Mercosur, the Latin American trading block made up of Argentina, Brazil, Uruguay and Paraguay. Khiron is active among Mercosur jurisdictions with a recently completed acquisition of NettaGrowth International, a cannabis company based in Uruguay.
The trade deal between the European Union and Mercosur announced on June 28, 2019 at the G20 Summit in Japan, which is subject to ratification by member countries, establishes a trade framework for goods and services, including pharma and medical products, covering nearly 780 million consumers, making it the largest in the world in terms of population, and with an estimated trade in goods of 88 Billion Euros (Source: European Commission).
Alvaro Torres, Khiron CEO and Director, comments "As we build Khiron's dominant position in Latin America and Mercosur markets through our operations in Uruguay, we welcome this trade deal as it strengthens our ability to now directly supply the European medical cannabis market. This significant milestone is another step towards a globalized medical cannabis trade network where Latin America, with its strategic location, many natural advantages and regulatory leadership, will continue to play a significant part."
Khiron announced completion of the acquisition of NettaGrowth International on June 19, 2019. NettaGrowth, and its wholly-owned subsidiary Dormul S.A. is a Uruguayan company that has obtained one of the first licences to produce and export medical cannabis with THC for commercialization in Uruguay, and is positioned to serve Brazil and the growing Latin American market as part of the Mercosur trading block, adopting the Company's scalable model as markets develop.
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.
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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 benefits of the acquisition, Dormul's cultivation capacity, receipt by Dormul of an extraction licence, and receipt of all required regulatory approvals, including final approval of the TSXV, 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.
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SOURCE Khiron Life Sciences Corp.
Released July 1, 2019