As a result of this listing, Khiron becomes the first fully-licensed medical cannabis producer with core operations in Colombia to list on any securities exchange globally. This most recent accomplishment adds to a list of objectives achieved to date, including:
- One of the first fully-licensed medical cannabis companies in Colombia, with cultivation and production licenses for low- and high-THC awarded by the Ministry of Health and Social Protection and Ministry of Justice, respectively.
- One of the first companies to receive a cultivation quota for high-THC mother plants.
- Strategic partnership with the Colombian Neurological Association and hosting of two significant medical cannabis conferences in Bogota and Medellín. Over 1,000 physicians in attendance.
- Securing of land package in Ibagué, Colombia, an ideal location for cultivation, which includes access to clean water, ideal temperature conditions, and military presence. Initial 7,500 square meters of productive area construction are ready for commercial cultivation.
- ~$17 million of equity capital raised over three financing rounds. Khiron has worked with leading Canadian investment banks to complete these offerings.
Investor Conference Call
Khiron will host an investor conference call to discuss these achievements on Thursday, May 24, 2018 at 8:30am EDT.
Investors can access the call as follows:
|Toll free||+1 888-886-7786|
A replay of the conference call will be available for one week after the call’s completion by dialing +1 877-674-6060 (Toll free) or +1 416-764-8691 (Local) and entering passcode 605108.
In advance of the call, investors are also invited to submit questions to email@example.com.
Grant of RSUs and Stock Options
Khiron also announced the grant of stock options and restricted share units (“RSUs”) to certain employees, consultants, officers and directors of the Company. Stock options to purchase up to 1,105,000 common shares were granted to certain employees, consultants, officers and directors of the Company pursuant to Khiron’s stock option plan, exercisable at a price of $1.40 per common share. The stock options have a term of 5 years and will vest in quarterly instalments over a two year period after shareholder approval of the Company’s stock option plan at its annual general meeting.
In addition, 5,135,000 RSUs were awarded to employees, consultants, officers and directors pursuant to the Company’s RSU plan. The RSUs will vest in quarterly instalments over a two year period after shareholder approval of the Company’s RSU plan at its annual general meeting.
Khiron President and CEO, Alvaro Torres said, “We are pleased to be able to offer investors the opportunity to participate in the realization of our strategic and operational objectives. With the completion of this listing, our team will continue to focus on executing on our goal to expand across Latin America, a region with over 640 million people with unmet medical needs. Our patient-centric business model supported by world-class cultivation and extraction processes, brand loyalty development and a doctor education platform, positions us to become a dominant company in this region.” Further, “I would like to thank our existing investors for their support during the listing process, our team for their considerable efforts in the attainment of this milestone, and the Colombian government for their continued support of Khiron and our vision. We look forward to continue breaking barriers in this exciting new industry.”
For additional information in respect of the Company, please see Khiron’s SEDAR profile at www.sedar.com
About Khiron Life Sciences Corp.
Khiron is a Canadian integrated medical cannabis company with its core operations in Colombia, and is fully licenced in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. Khiron combines leading international scientific expertise, agricultural advantages, and branded product market entrance experience to address the unmet medical needs in a market of over 620 million people in Latin America.
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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SOURCE Khiron Life Sciences Corp.
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