Khiron Life Sciences Achieves Milestone With Additional Cultivation Quotas From The Colombian Technical Quotas Group
TORONTO, Nov. 19, 2018
Quotas represent progress towards cultivating strains for commercial purposes in Q1 of 2019
TORONTO, Nov. 19, 2018 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated medical cannabis company with its core operations in Colombia, is pleased to announce that it has received additional quotas from the Colombian Technical Quotas Group ("TQG"), to cultivate 5,040 psychoactive cannabis plants for the purposes of completing the Colombian Agricultural Institute ("ICA") agronomic evaluation tests. This represents a key milestone towards Khiron's stated timeline to bring medical cannabis options to market in Colombia.
Juan Diego Alvarez, Khiron Vice-President of Regulatory Affairs commented, "This allocation of cultivation quotas allows us to continue with the process of presenting new cannabis strains to the ICA for testing and approval for commercial production. We expect to complete this current phase of the Colombian licensing process in the very near future and to use these strains for commercial purposes by Q1 of 2019."
With this test cultivation quota, Khiron, one of the first companies to be registered by the ICA as an agronomical unit, is positioned to ensure the availability of all genetic material required to finish the ICA's agronomical evaluation of more than 60 strains of cannabis that have proven to have genetic potential for medical development and that can be used for commercial purposes. The cultivation yield will also enable the company to begin building a seed bank for the future development of new medical cannabis products.
About the Colombian Agricultural Institute
The Colombian Agricultural Institute ("ICA") is a public entity associated with the Ministry of Agriculture and Rural Development. The ICA designs and executes strategies to prevent, control and reduce health, biological and chemical risks for animal and plant species that may affect agricultural, forestry, fisheries and aquaculture production in Colombia.
About the Technical Quotas Group
The Technical Quotas Group ("TQG") is a multi-institutional body that performs the analysis, evaluation and monitoring of all matters related to the allocation of quotas of cannabis for medical and scientific purposes, in accordance with the provisions of Colombia's Single Convention on Narcotic Drugs of 1961.
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (TSXV: KRHN, OTCQB: KHRNF, Frankfurt: A2JMZC) ("Khiron" or the "Company") is positioned to be the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Colombia and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) 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 www.khiron.ca.
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. 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 information in this press release are reasonable, such forward-looking information 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 Filing Statement 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.
SOURCE Khiron Life Sciences Corp.