Khiron Announces Plans to Expand Kuida® Distribution to Spain
- Company prepares to bring Kuida CBD brand to Spain with receipt of "no objection" letter from TSXV, subject to complying with all regulatory requirements in Spain
- As previously announced, Khiron has fulfilled E.U. cosmetic product regulatory requirements for seven Kuida products
- Expands on previously announced Kuida entry to the UK
- Company further prepares for Kuida to enter the Swiss market, conditional on TSXV approval, representing a skincare market of US$540 million in 2018 (Source: Euromonitor)
- Spain skincare market estimated at US$1.7 billion in 2019 (Source: Euromonitor)
TORONTO, Feb. 20, 2020 /CNW/ - 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 its intent to bring the Company's Kuida® CBD brand to the Spanish market. This follows receipt of a "no objection" letter from the TSXV specific to Spain, and is subject to meeting all regulatory approvals in that country. With the previously announced fulfillment of E.U. cosmetic notification regulatory requirements Khiron will prepare to commercialize Kuida to a combined skincare market of over US$6.0 billion. (Source: Euromonitor)
"As our European operations ramp up, we are able to bring our unique products, consumer experience and scientific capabilities from Latin America into one of the world's fastest growing markets. Entry for our Kuida brand into Spain, and later Switzerland, will represent another milestone in the Company's strategy to serve consumers across multiple categories and markets," comments Tejinder Virk, President, Khiron Europe.
Kuida, the first consumer brand of Khiron's wellness business unit, brings the benefits of cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida was launched in Colombia in October 2018 through retail, wholesale and online channels and is now available nationwide and through e-commerce channels. As the Company expands Kuida distribution in Europe, an initial soft launch in the UK will be followed by a strategic marketing and retail campaign. Kuida will be a featured exhibitor at Cosmoprof Worldwide Bologna 2020, which attracted over 265,000 visitors in 2019 and is the largest such event for attendees to learn more about market leading products and to place orders. For more information on Kuida visit https://kuidaskincare.com/en/
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.
Visit Khiron online at www.khiron.ca and on Instagram @khironlife
Cautionary Notes
Forward-Looking Statements
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.
Investor Contacts: Chris Naprawa, President, T: +1 (416) 705-1144, E: cnaprawa@khiron.ca; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: jpacker@khiron.ca
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