- Appointment of Mr. Holifield enhances Khiron's Mexico security and compliance capabilities and operational network
- Mr. Holifield joins a growing team for Mexico that includes country manager, Luis Chaves, and Mr. Vicente Fox, former Mexican president and Khiron board member
- Company taking leadership position in Mexico as co-host of Cannamexico World Summit 2019, April 25-26, a medical, regulatory and industry cannabis conference with over 2,000 attendees from ten countries, making it the largest of its kind in the region
- Appointment expands on Company's stated multi-market growth strategy with highly experienced and well-connected operations teams in each jurisdiction
- Mexico comprises over 124 million people, 11.7 million potential patients and a market estimated at over 10 Billion USD (Source: Prohibition Partners)
TORONTO, April 17, 2019 /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 that it has appointed Mr. Larry Holifield as the company's Security and Compliance Director, Mexico. Mr. Holifield, formerly a senior executive with the U.S. Drug Enforcement Administration ("DEA") with responsibility for Mexico and Central America, will play a key role as the Company builds out its operations and stakeholder relationships in the fast-developing Mexico cannabis industry.
Mr. Holifield is a recognized security and compliance expert with deep knowledge of the Latin America region. With 35+ years of increasingly senior law enforcement experience, including over 12 years serving in Mexico, Guatemala and Colombia, Mr. Holifield has been a leader in the management and direction of long term and complex domestic and international operations for local, state and federal agencies, as well as for leading Fortune 500 companies.
As Security and Compliance Director for Mexico, Mr. Holifield will work with Matt Murphy, former DEA Chief of Pharmaceutical Investigations and Khiron's Chief Compliance Officer, and the executive team to further the Company's strategy for Mexico, including working with legislators, law enforcement and government agencies to ensure the Company is positioned for a leadership position as the Mexican market moves towards a legalized environment.
Mr. Holifield comments, " As Mexico moves towards a legalized cannabis environment security and compliance are key. Khiron has one of the most dynamic, skilled and highly experienced teams currently operating in the LatAm region . I look forward to adding my compliance capabilities and knowledge of the region to ensure that the Company participates in the market with industry-leading, safe and secure operations."
As previously stated, Khiron has indicated its intention to participate in the Mexican cannabis market, having conducted an in-depth regulatory review of the country's cannabis landscape, a comprehensive market-needs assessment indicating a potential medical cannabis market of 9% of the country's population, and the incorporation of the Company's Mexican subsidiary, which counts experienced brand builder and entrepreneur Mr. Joseph Mimran on its board, subject to TSXV Venture Exchange Inc. ("TSXV") approval.
Alvaro Torres, Khiron CEO and Director stated, "As we continue to execute on our multi-market growth strategy it is important that every operational role is led by an experienced specialist with a strong understanding of the region and market. A highly experienced security director, and former U.S. DEA executive with decades of knowledge of the LatAm region, Larry will play an integral role in the development and expansion of our business in Mexico.
Khiron Life Sciences Corp. is positioned to be the dominant integrated 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 THC (tetrahydrocannabinol) and CBD (cannabidiol) 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 https://investors.khiron.ca/
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Market and Industry Data
This press release contains market and industry data and forecasts that were obtained from third-party sources, industry publications and publicly available information. Third-party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of included information. Although management believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this press release, or analyzed or verified the underlying studies or surveys relied upon or referred to by such sources, or ascertained the underlying economic assumptions relied upon by such sources.
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. Forward-looking statements may be identified by statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking statements herein include, but are not limited to, statements regarding the anticipated benefits of the distribution agreements, including online and physical retail consumer exposure, and potential expansion into other jurisdictions, among others. 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 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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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.
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SOURCE Khiron Life Sciences Corp.
For further information: Investor Contacts: Chris Naprawa, President, T: +1 (416) 705-1144, E: [email protected]; Phil Carlson, KCSA Strategic Communications, 212-896-1233, E: [email protected]; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: [email protected]