Khiron Life Sciences Corp (CVE:KHRN) Commercializes 17 New Cannabis Strains
Khiron Life Sciences Corp (TSX-V: KHRN) (OTCQB: KHRNF) (Frankfurt: A2JMZC) has received approval from the National Cultivar Registry and the Technical Direction of the with Colombian Agricultural Institute (“ICA”) for the commercialization of 17 stains of cannabis. This days after Chris Naprawa made an appearance on Midas Letter addressing rumours circulating that the company failed to register its seeds with the Colombian regulators. In truth, Khiron had five separate strains registered and with this most recent announcement have since added another 17 bringing the total number of registered strains to 22.
The additional strain approvals resulted from successful ICA operational reviews allowing new plants to be cultivated at Khiron’s facility near Ibague, Colombia. The initial harvest of the newly approved strains are expected to be used in producing CBD extract and will grant the Company ability to commercialize its medical cannabis products sales in Q3 2019. Having a greater variety of genetics in the cannabis grown, the more suited Khiron are to provide future and current patients and customers to match their varying demands and desires.
Khiron is positioned as the dominant integrated cannabis company in Colombian within the multi-billion global market with first mover advantage in LatAm. The company’s potential addressable patient network is over 1 million individuals represented by over 5,000 doctors through six medical association endorsements. Khiron’s Wellness line, Kuida, also has distribution agreements with the largest retail outlets throughout Colombia, with over 176 points of sale. New cannabis strains will provide the company’s large network of patients access to CBD and the medical benefits of the cannabis plant.
On top of Khiron’s large doctor network throughout Latin America, Khiron also signed a LOI with Colombia’s largest pharmacy chain with over 900 pharmacies across 200 cities and municipalities across the country. On completion of the agreement, Khiron will have established distribution capabilities allowing the company to offer patients the option for pick-up or home delivery of their medical cannabis formulations. Khiron’s direct to patient distribution method is anticipated to deliver higher margins than other producers solely focused on wholesale export distribution models.
Khiron are also working diligently towards receiving further strain approvals for its proprietary psychoactive cannabis varieties with higher THC quantities. When the THC strains are approved, Khiron will move directly to demonstrating an established market demand and distribution method for commercial quota. This would make Khiron the first company in Colombia to be awarded commercial quotas for THC.
Already poised as the leading Latin American cannabis company, Khiron have now expanded its cannabis strain library aiding with its already low-cost extract capabilities. This kind of consistent growth further supports the company’s commanding position in each of its medical cannabis and cosmeceutical categories.
Midas Letter will have further coverage as events warrant.
“Khiron has continually focused on expediting our timing to market, while ensuring the highest standards of product quality and consistency. With these approvals secured, Khiron is now poised to introduce its medical cannabis products in Colombia by the third quarter of this year, which once again, demonstrates the Company’s in-depth understanding of patient needs, its strategic and evidence-based approach, unparalleled regulatory knowledge, and its leadership role in the Latin American market.” – Alvaro Torres, CEO
©2019 Midas Letter. All Rights Reserved.
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