Khiron Life Sciences Corp. Announces Colombian Retail Distribution Partners for Kuida® CBD Cosmeceutical Brand
Khiron Life Sciences Corp. (TSXV:KHRN) (“Khiron” or the “Company”) an integrated medical cannabis company with its core operations in Colombia, announced today that it has signed multi-channel distribution agreements for Kuida®, its first CBD-based skincare brand. These agreements have been secured with Colombia’s most recognized distributors in the cosmeceutical industry.
Alvaro Torres, Khiron Co-founder and Chief Executive Officer stated, “These key channel partnerships enable us to execute our first go-to-market strategy, by entering the $5.6 Billion Colombian skincare market with significant distribution and access to large and established consumer networks.”
As part of a robust strategy, Kuida® launches with secured distributor agreements that leverage their market reach, geographic location, scale and ability to ensure the Kuida® brand achieves its market potential. These agreements reflect retail, on-line and wholesale distribution, and further the strategic goals of the Company’s wellness unit.
- Retail distribution: Kuida has entered into an exclusive agreement with Farmatodo, one of Colombia´s largest pharmacy chains with 56 stores and over 1.2 Million monthly transactions, generating annual revenue of more than US $120 Million across more than 10 product categories including, medicine, personal care, beauty and skin care, and food and beverage, among others.
The exclusive agreement gives consumers direct product access based on agreed prominent store merchandising and point of purchase display across all Farmatodo stores. Following an exclusive period with Farmatodo, Kuida will also be available at other leading retail chains across the country.
- Online Distribution: Kuida has signed an agreement with Farmalisto, Colombia’s leading digital drugstore with more than 800,000 monthly visits, sustained annual sales growth of 150% and a strong presence in both Colombia and Mexico. Farmalisto is a leading e-commerce platform, based on a strong CRM program allowing patients and consumers to access medicines and products with ease.
- Wholesale Distribution: Kuida has entered into an agreement with Distribuciones AXA S.A., one of Colombia’slargest national distributors in the pharmaceutical sector, with 14.000 product SKU’s and more than 8,000 retail clients. AXA will play an important role in Kuida´s development, allowing the brand to reach an expanded network of retailers and clients.
- Furthermore, Khiron’s wellness unit has a robust e-commerce strategy for Kuida that includes direct sales through www.kuidaskincare.com
Kuida®, the first consumer brand of Khiron’s wellness unit, is the first in Colombia that brings the benefits of Cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida® advances CBD and innovative cosmeceutical ingredients to create our proprietary CBDERM® technology, which is proven to be three times more antioxidant than vitamin E, it has anti-aging properties, as well as quick absorption and light textures to improve the penetration of CBD within the skin.
Teodoro Zubillaga General Manager of Farmatodo stated “Having witnessed how the retail market in Colombia has evolved, how new players and brands have arrived, Khiron seeks a great opportunity in the market with an innovative product portfolio. We are sure that Kuida® will be a success with our clients”
José Joaquin Mora CEO & CO-Founder of Farmalisto stated, “The strategic alliance between Khiron and Farmalisto allows immediate delivery of CBD cosmeceutical products of the highest quality. Kuida®´s products will be available through an innovative e-commerce platform that Farmalisto offers, providing consumers with innovative products delivered with leading commercial technology provided through the most innovative digital platform”.
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 the first Colombian based medical cannabis company 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.
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