Status Accelerates Ability to Bring New
Products and Services to Market
- The National Interest Strategic Project certification ("PINES")
was established by the Government of Colombia to prioritize the development of
specific projects or companies that are deemed by the Government to
be able to significantly increase the national economy
- Khiron's PINES certification as a Colombian Pharmaceutical
Producer of Global Cannabis immediately simplifies and accelerates
administration and processes for the Company in executing strategic
projects in Colombia and for
export
- Under the plan presented to the Government, Khiron will aim to
register and introduce more than 4 SKU's in the Medical Cannabis
Category and at least 10 SKU's in the Consumer Packaged Goods
Category (Foods & beverages, supplements, Pets, skin care,
etc.), for the domestic market of Colombia and for export of finished
products
- Certification demonstrates not only the Government of
Colombia's commitment to the
medical cannabis industry in Colombia, but also its support of Khiron's
business plan to create value added products in the medical and CPG
cannabis industry for domestic market and for export
- Khiron is one of three companies to obtain this status, placing
the Company at the forefront of the industry in Colombia
TORONTO, Sept. 22, 2020 /CNW/ - Khiron Life Sciences
Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF),
(Frankfurt: A2JMZC), a vertically
integrated cannabis leader with core operations in Latin America and Europe, is pleased to report that the Company
has received the status of National Interest Strategic Project
("PINES") by the Government of Colombia, through its Intersectoral Commission
for Infrastructure and Strategic Projects ("CIIPE"). The government
agency review, and subsequent certification, enables the Company to
simplify authorization processes, reduce cost and accelerate time
to market for its services and products for the Colombian market
and for export purposes.
"The PINES status provides our operations in Colombia with an accelerated path forward to
bring new products and services to market. We expect that,
through PINES, which is designed to efficiently move projects
through the Colombian regulatory process, Khiron will be able to
fast track certifications, licenses and permits related to our
business, allowing us to accelerate revenue opportunities and add
cost efficiencies to our process, while ensuring we continue to
bring quality medical cannabis products to more patients in
Colombia and globally. We applaud
the Government of Colombia on the
PINES initiative, which supports the growth of the Colombian
economy and encourages the very best industries and businesses we
have to offer," comments Alvaro
Torres, Khiron CEO and director.
PINES has historically focused on large, resource sector and
infrastructure programs in Colombia, such as the first subway line in
Bogota, where programs provide an
economic boost to the economy and export capacity, significantly
impact job creation, generate positive investment returns, offer
operational sustainability, generates large national income or
contributes to government planning goals. The declaration of
the medical cannabis sector into the program, and in particular
Khiron, focuses on the development of pharmaceutical products and
the provision of health services with a differentiated and
integrative model, demonstrating the government commitment to new
industries that advance the economy, adding products that
positively transform the quality of life of Colombian patients and
in other countries where the Company operates, including the UK,
Peru, Germany, and Mexico.
Khiron benefits from the PINES certification by simplifying and
accelerating the process for its projects in order to specifically
advance: the inclusion of medical cannabis within the list of
medications covered by the federal health system, the registration
of finished products, currently including four pharmaceutical
products and at least 10 CPG SKU's among others, and export of the
health service delivery model to serve potential medical cannabis
patients in other countries, and the development of clinical
studies and data collection that support the effectiveness and
safety of these products.
About Khiron Life Sciences Corp.
Khiron is a
vertically integrated medical and CPG cannabis company with core
operations in Latin America, and
operational activity in Europe and
North America. Khiron is the leading cannabis company in
Colombia and the first company
licensed in Colombia for the
cultivation, production, domestic distribution, and international
export of both low and high THC medical cannabis products. The
Company has further presence in Peru, Mexico,
Uruguay, UK, Spain and Germany, where it is positioned to begin sales
of medical cannabis.
Leveraging its first-mover advantage, and patient oriented
approach, Khiron combines global scientific expertise, product
innovation, agricultural infrastructure, wholly-owned medical
clinics, and online doctor education programs to drive prescription
and brand loyalty to address priority medical conditions. Its
Wellbeing unit launched the first branded CBD skincare brand in
Colombia, with KuidaTM
now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is
led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and
diverse executive team and Board of Directors.
Visit Khiron online at investors.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 is 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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SOURCE Khiron Life Sciences Corp.