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Khiron Life Sciences Signs MOU With AusCann Joint Venture DayaCann

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Khiron Life Sciences Corp (CVE:KHRN | OTCMKTS:KHRNF) is expanding its South American footprint. An early ASEAN press release has revealed that the company is partnering with AusCann Group Holdings Ltd. joint venture DayaCann to foster its growing medical cannabis initiatives in Chile.

The Memorandum of Understanding (MOU) envisions further collaboration through which Khrion Life Sciences, DayaCann and Fundación Daya can offer new alternatives of medical cannabis to patients in Chile beyond those currently provided. Fundación Daya is a non-profit organization researching and promoting alternative therapies aimed at alleviating human suffering. The group’s policy wing collaborates and advises on the design of public policies promoting the physical and spiritual well-being of people.

All parties will engage in seed-to-lobbying activities presenting cannabinoid medicines as a viable therapeutic options for an array of conditions. As part of the agreement, Khiron will provide funds to support the development of these activities. On September 12th, the company announced the closure of its short form prospectus offering, netting them $12,937,500—including the exercise in full of the over-allotment option.

Another noteworthy aspect of the MOU is that DayaCann is currently the only company in Chile to hold a medical cannabis production license. For now anyway, this collaboration gives Khiron Life Sciences a head start in staking brand and territory prominence in the country. Under the agreement, DayaCann will provide cultivation and manufacturing services to KHRN.

Khiron Life Sciences VP of Compliance Matt Murphy shares why the company’s compliance philosophy is an advantage

While the news lacks any material punch, it’s one of those under-the-radar maneuvers which should foment consequential effects over time. Again, it shows Khiron focused squarely on the medical cannabis/clinician side of the market, rather than cultivating. Given that South America cannabis cash crop margins will likely stay compressed for various reasons, this seems like the right strategy.

Khiron is currently attempting to make similar inroads into the Mexican medical cannabis market, recently acting as a key sponsor of the CannaMexico World Summit in May. This attempt was further bolstered in July, when the company appointed former President of Mexico Vicente Fox to its board of directors.

Original article: Khiron Life Sciences Signs MOU With AusCann Joint Venture DayaCann

©2018 Midas Letter. All Rights Reserved.


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