- Mexico poised to become the
largest market in the world to fully legalize cannabis
nationwide
- Forum with industry leaders to guide legislation to legalize
both adult-use and medical cannabis in Mexico – currently expected by the end of
October 2019
- Builds on Khiron's history of leadership and advocacy in
Mexico's developing cannabis
industry
- Company holds close relationships with key stakeholders in
Mexico, including former president
of Mexico and current Khiron board
member Vicente Fox, as well as
medical associations across the country
- Company positioned to play a leading role in the Mexican
cannabis market, estimated to be worth $1.2bn USD by 2028 (Prohibition Partners)
TORONTO, Oct. 16, 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, announced today that the
Company recently participated in the Open Parliament held by Senate
of Mexico on the theme of "Towards
Cannabis Regulation," which took place through August 2019 and September
2019. As a Latin American cannabis leader with a strong
presence in Mexico, Khiron joined
both open forum sessions and a committee of experts to engage in
dialogue and provide input on the building blocks of the country's
new regulatory framework.
Initiated by Mexico's United
Commission of Justice, Health, Second of Legislative Studies and
Public Safety, the Open Parliament is a consultation forum which
invites the public, including civil society stakeholders and
cannabis industry leaders, to discuss five key topics on cannabis
regulation and availability. The Senate of Mexico also hosted a series of international
speakers, such as former Colombian Senator Juan Manuel Galan, to provide their perspectives
and learnings from the legalization process undertaken in other
countries. Feedback provided by participants, including Khiron,
will serve to inform the country's cannabis legislation, which is
currently slated to be passed by the Senate before the end of
October 2019. Upon legalization,
Mexico will be the most populous
market to fully legalize cannabis nationwide, with an industry
estimated to be worth $1.2bn USD by
2028.
"Participation in the Open Parliament builds on Khiron's history
of leadership and advocacy in Mexico's cannabis industry," stated
Luis Chaves, Country Manager,
Mexico at Khiron Life Sciences.
"The legalization of medical and adult-use cannabis will be a
historic moment for 130 million people across Mexico. We are thrilled to lend our insight
and knowledge as the country works to shape its regulatory
framework and its developing cannabis industry."
In Mexico, Khiron is
well-positioned to reach the country's consumers and patients, and
to play a leading role in the market for cannabis. The Company
works closely with Centro Fox,
founded by former President of Mexico and current board member Vicente Fox, to engage key stakeholders through
a program of Khiron-hosted and sponsored events, including the
2nd annual CannaMexico conference held in April 2019. In addition to its relationship with
Centro Fox, Khiron has further built
a network of partnerships with leading medical associations, with
endorsements from the Mexican College of Internal Medicine and
Mexican Academy of Neurology.
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.