Vicente Fox, Khiron Board Member and Former President of Mexico, Applauds Mexican Supreme Court's Advancement of Cannabis Laws

Rhea-AI Summary

Khiron Life Sciences Corp. (OTCQX: KHRNF) plans to enter Mexico's medical cannabis market following the Supreme Court's recent decision to decriminalize adult cannabis use. This landmark ruling aligns with Khiron's strategy to leverage its experience in Colombia for a competitive edge. The company anticipates accelerating its market entry due to regulatory advancements and aims to establish clinics and educational programs in 2021. Former Mexican President Vicente Fox supports the decision, envisioning Mexico as a leading global cannabis market.

Positive

• Entry into Mexico's medical cannabis market expected sooner due to regulatory advances.
• Leverage of existing Colombian cannabis operations to gain competitive advantages in Mexico.
• Support from Vicente Fox, highlighting the market's potential.

Negative

• None.

• Mexico's Supreme Court has voted to decriminalize adult use cannabis, allowing adults to apply for permits to cultivate and consume their own cannabis
• Khiron reiterates plans to enter Mexican medical cannabis market in 2021 through previously announced clinic and education strategy
• Recent regulatory and supply chain advances accelerate the Company's entry into the medical market by several months

TORONTO, June 30, 2021 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF)(Frankfurt: A2JMZC), a vertically integrated medical cannabis leader with core operations in Latin America and Europe, today reiterates its plans to enter the Mexican medical cannabis market in 2021, following a landmark vote by the Mexican Supreme Court to decriminalize adult use cannabis. The decision of the Supreme Court underscores the political and social commitment to normalize the use of cannabis in Mexico.

Vicente Fox, Khiron Director and former President of Mexico, comments, "I believe Mexico will be the largest legal cannabis market in the world, and with a proven strategy for Latin America and the knowledge and track record to execute, Khiron remains at the forefront of this exciting market. Today's vote by the Supreme Court is an important step forward on the road to full legalization in Mexico."

With extensive experience developing magistral preparations, generating clinical evidence, operating pharmacies, and exporting highly regulated cannabis products, Khiron's experience in Colombia is expected to provide competitive advantages for its entry into Mexico's medical cannabis market. 

About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health centres and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and agricultural infrastructure to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany and the UK, and is positioned to commence sales in Mexico and Brazil in 2021. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.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 on 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 is 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.

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.

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SOURCE Khiron Life Sciences Corp.

FAQ

What is the significance of the Mexican Supreme Court ruling for Khiron Life Sciences Corp. (KHRNF)?

The ruling decriminalizes adult cannabis use, allowing Khiron to accelerate its entry into the Mexican medical cannabis market, which is a key part of its expansion strategy.

When does Khiron plan to enter the Mexican medical cannabis market?

Khiron aims to enter the Mexican medical cannabis market in 2021, following the recent regulatory changes.

How will Khiron benefit from its experience in Colombia?

Khiron plans to leverage its established operations in Colombia, including clinical preparation and supply chain management, to gain a competitive advantage in Mexico.

What are Vicente Fox's views on the cannabis market in Mexico?

Vicente Fox believes Mexico could become the largest legal cannabis market globally, supporting Khiron's strategic entry into this sector.