- Effective immediately, Khiron is fully authorized to manufacture high- and low-THC medical cannabis, and to fill prescriptions for low-THC medical cannabis
- Khiron anticipates filling its first revenue generating patient prescriptions within days
- With successful lab certification, Khiron becomes the first company authorized to sell medical cannabis in
Colombia Colombia has upwards of 6 million potential patients for medical cannabis products (Source: IMS Quintiles)- Khiron also provides a general corporate update and response to Covid-19
"Today is a hugely important milestone for Khiron. With this GEP certification we begin a new phase in commercializing our medical cannabis product pipeline and towards meeting our market potential. We have been preparing for this day for three years. We have the capacity, established patient network, and now full authorization to manufacture high- and low-THC magistral preparations, and to fulfill prescriptions for non-psychoactive medicinal cannabis within days," comments
Khiron has an established patient network in
Under Colombian regulations, GEP certification is a manufacturing and processing certification that is a mandatory requirement for commercializing customized medical cannabis prescriptions, known as Magistral Preparations. Commercializing customized medical cannabis prescriptions in
Investor Webcast
The Company will host a webcast on
Corporate Update
As the world deals with the spread of Covid-19, Khiron provides the following corporate update on further commercial and operational activities. As global market conditions have changed dramatically the Company is implementing the following measures to ensure liquidity and increase focus of company resources.
Uruguay : The Company has decided to suspend construction of cultivation assets inUruguay for the time being.- Wellness/CPG: The Company is significantly reducing sales and marketing spending for Kuida in the European and US markets. The Company intends to continue its current marketing efforts in
Colombia . - Dixie JV: In light of the announcement on
March 9, 2020 by Dixie Brands Inc. ("Dixie") to merge withBR Brands, LLC , the Company and Dixie have mutually agreed to terminate the joint venture that was announced onJanuary 30, 2019 .
"We are now in the sales execution phase of our business plan and as such it is key that we remain focused on those areas of our business that have the greatest revenue potential and are scalable across our addressable markets. We have taken decisive action to protect our balance sheet and focus on our core medical businesses, in the most promising markets," comments
"With worldwide efforts underway to manage the spread of Covid-19, I wanted to personally add that Khiron is in discussions with regulators in
About
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,
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 on 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.
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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