- Distribution agreement with Cafam includes initial Kuida®
product orders for 49 points of sale
- Further expansion to increase to 150 stores in first 6
months
- Cafam operates total of 270 stores across over 60 market in
Colombia
- Accelerates Company's multi-channel brand distribution
strategy targeting $10 Billion Latin
American skincare market
TORONTO, April 30, 2019 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF),
(Frankfurt: A2JMZC), an integrated
cannabis company with core operations in Latin America, announced today that it has
signed a distribution agreements for its Kuida® cosmeceutical brand
with Cafam, a leading Colombian drugstore chain. This agreement
further expands the brands points of sales In combination with the
previous announced distribution arrangements this agreement further
expands the brands retail and e-commerce points of sales in
Colombia.
Cafam is a large Colombian conglomerate that is
diversified across multiple business lines, with operations built
over a 40-year history. Cafam operates 270 stores across 63
different markets in Colombia,
generating annual revenue of USD $561M. The Company's agreement with the drugstore
division of Cafam, represents an initial 49 point of sale locations
for Kuida®, and an agreement to expand this distribution to a total
of 150 stores in the first six months of roll-out of the
agreement.
Management Commentary
Mr. Alvaro Torres, CEO and
Director of Khiron, comments: "We continue to see strong demand for
the Kuida brand and this agreement with Cafam ensures we can reach
more consumers in a convenient point-of purchase environment. As
part of a multi-channel retail distribution strategy, and backed
with our comprehensive product training programs this new
partnership expands our reach in targeting the $10 Billion Latin American skincare market."
About Kuida®
Kuida®, the first consumer brand of Khiron's wellness business
unit, brings the benefits of cannabidol (CBD) to a comprehensive
portfolio of skin and body care products for women. Kuida was
launched in Colombia in
September 2018 through retail,
wholesale and online channels and with an exclusive agreement with
Farmatodo, one of Colombia´s largest pharmacy chains with 56
stores.
About Khiron
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
one of the first Colombian based medical cannabis companies 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 https://investors.khiron.ca/
Cautionary Notes
Market and Industry Data
This press release contains market and industry data and
forecasts that were obtained from third-party sources, industry
publications and publicly available information. Third-party
sources generally state that the information contained therein has
been obtained from sources believed to be reliable, but there can
be no assurance as to the accuracy or completeness of included
information. Although management believes it to be reliable, the
Company has not independently verified any of the data from
third-party sources referred to in this press release, or analyzed
or verified the underlying studies or surveys relied upon or
referred to by such sources, or ascertained the underlying economic
assumptions relied upon by such sources.
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable Canadian 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 final acceptance of the TSXV and the
commencement of sales in Mexico.
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.
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.
SOURCE Khiron Life Sciences Corp.