Mexico poised to become the largest market in the world to fully legalize cannabis nationwide
Forum with industry leaders to guide legislation to legalize both adult-use and medical cannabis in Mexico – currently expected by the end of October 2019
Builds on Khiron's history of leadership and advocacy in Mexico's developing cannabis industry
Company holds close relationships with key stakeholders in Mexico, including former president of Mexico and current Khiron board member Vicente Fox, as well as medical associations across the country
Company positioned to play a leading role in the Mexican cannabis market, estimated to be worth $1.2bn USD by 2028 (Prohibition Partners)
TORONTO, Oct. 16, 2019 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, announced today that the Company recently participated in the Open Parliament held by Senate of Mexico on the theme of "Towards Cannabis Regulation," which took place through August 2019 and September 2019. As a Latin American cannabis leader with a strong presence in Mexico, Khiron joined both open forum sessions and a committee of experts to engage in dialogue and provide input on the building blocks of the country's new regulatory framework.
Initiated by Mexico's United Commission of Justice, Health, Second of Legislative Studies and Public Safety, the Open Parliament is a consultation forum which invites the public, including civil society stakeholders and cannabis industry leaders, to discuss five key topics on cannabis regulation and availability. The Senate of Mexico also hosted a series of international speakers, such as former Colombian Senator Juan Manuel Galan, to provide their perspectives and learnings from the legalization process undertaken in other countries. Feedback provided by participants, including Khiron, will serve to inform the country's cannabis legislation, which is currently slated to be passed by the Senate before the end of October 2019. Upon legalization, Mexico will be the most populous market to fully legalize cannabis nationwide, with an industry estimated to be worth $1.2bn USD by 2028.
"Participation in the Open Parliament builds on Khiron's history of leadership and advocacy in Mexico's cannabis industry," stated Luis Chaves, Country Manager, Mexico at Khiron Life Sciences. "The legalization of medical and adult-use cannabis will be a historic moment for 130 million people across Mexico. We are thrilled to lend our insight and knowledge as the country works to shape its regulatory framework and its developing cannabis industry."
In Mexico, Khiron is well-positioned to reach the country's consumers and patients, and to play a leading role in the market for cannabis. The Company works closely with Centro Fox, founded by former President of Mexico and current board member Vicente Fox, to engage key stakeholders through a program of Khiron-hosted and sponsored events, including the 2nd annual CannaMexico conference held in April 2019. In addition to its relationship with Centro Fox, Khiron has further built a network of partnerships with leading medical associations, with endorsements from the Mexican College of Internal Medicine and Mexican Academy of Neurology.
About Khiron Life Sciences Corp. Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.
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, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
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 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.
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