- Khiron to report Q4 and Year End Results on April 28, and webcast Q&A will be held the following day
- Khiron finished the 2019 calendar year with approximately $36 Million CAD in cash and working capital
- Khiron and its clinics operational during COVID-19 pandemic under an exemption decreed by the Government of Colombia, without any requirement for further authorization
- Active teleconsultation services complement Khiron’s delivery service that is already delivering medical cannabis prescriptions directly to patients’ homes
- Online education program bringing medical cannabis education to 1,500 doctors in Latin America, consolidating Khiron’s digital strategy
- In efforts to assist with the COVID-19 pandemic, the Company has purchased automatic testing equipment, and is in discussions on how best to deploy this
- Khiron further demonstrates its commitment to the community with social responsibility activities during the COVID-19 crisis supporting family health and wellbeing in Doima, Colombia
- Cost reduction measures in response to COVID-19 include pay cuts for the Company’s CEO and President, as well as board members and members of the management team
Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV:KHRN), (OTCQX:KHRNF), (Frankfurt:A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, announces that it will report Q4 and year-end financial results on April 28, 2020 and webcast Q&A the following day. The Company also provides the following update on COVID-19 related and social responsibility activities.
“While operating in a complex, and sometimes challenging market, the Company has achieved significant milestones towards becoming the most recognized medical cannabis brand in Latin America. This includes progress towards medical product distribution in Peru and Brazil, the successful roll-out of our Kuida CBD brand to over 300 stores in Colombia, the launch of our Zerenia integrated health facility, and in March 2020 receipt of our GEP lab certification, making Khiron the first and only company in Colombia to sell medical cannabis.” Commented Alvaro Torres, Khiron CEO and director.
“The current COVID-19 pandemic is bringing unprecedented pressures to communities and businesses globally. Khiron is not immune to these pressures, however we have a large patient network, active online strategy, established supply chain and closed 2019 with approximately $36 Million CAD in cash, positioning us well during this challenging time. We are ensuring the physical and mental health of our employees remains a top priority and I would like to personally thank them all for their extraordinary hard work and dedication,” said Mr. Torres.
Khiron has established contingency plans in place for all its facilities, including medical facilities which are essential to serving the community. Those plans were put into action and the Company’s facilities and supply chain remain operating within strict government guidelines established as a result of the current pandemic.
Khiron’s ILANS and Zerenia clinics have been deemed essential services by the government of Colombia and continue to operate without requirement of any further authorization. The Company’s recently announced teleconsultation services ensure patients, including those from its ILANS and Zerenia network, have access to clinic services and doctors trained to prescribe medical cannabis and other treatments.
The Company is actively executing on its Latin American doctor education strategy with a recently announced agreement to bring online learning to 1,500 doctors at Mexico’s Tec Monterrey, one of the leading and most highly respected universities in Latin America.
Corporate Social Responsibility
Recognizing the Company’s important role in supporting the health of Colombians, Khiron has acquired COVID-19 automatic testing equipment and is in discussions with the government on how best to put it to use in the coming days. This equipment will have further application in the future to bring increased respiratory testing services to Khiron patients.
Khiron continues to work closely with its community in the Doima region of Colombia, providing nutrition kits to vulnerable families in need. The Company donates essential hospital supplies to improve the endowment of the Hospital of San Sebastián in Piedras, Tolima and a health professional who will have the role of supporting the work of the hospital centre, improving the care of the Doima community during the health emergency caused by the coronavirus.
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. is the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Latin America, along with activity in North America and Europe, and is 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 line of CBD cosmetic products on shelf in Colombia, and is fully authorized to manufacture high- and low-THC medical cannabis, and to fill prescriptions for low-THC medical cannabis in the country.
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.
Visit Khiron online at www.khiron.ca and on Instagram @khironlife
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.
United States Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
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.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.