Khiron Announces Changes to Leadership Team with Appointment of Wendy Kaufman as CFO
TORONTO , June 14, 2019 /PRNewswire/ - Khiron Life Sciences Corp. (" Khiron " or the " Company ") (TSXV: KHRN), (OTCQB: KHRNF), ( Frankfurt : A2JMZC), a cannabis company with core operations in Latin America , today announced the appointment of Wendy Kaufman as CFO, effective July 2, 2019 . Ms. Kaufman, a Chartered Professional Accountant, brings over 20 years of international financial experience, having served most recently as CFO at Pasinex Resources Limited. Ms. Kaufman has significant experience with Latin American operations, gained during her tenure as CFO at Primero Mining Corporation, and previously in her role as Vice President, Finance and Treasury at Inmet Mining Corporation, among other executive management positions.
Cannabis Consumers Reap the Benefits of Lower Cultivation Costs
Legal cannabis can be quite expensive for consumers, however, regions that have adopted legislation early on tend to generally have lower prices. The most expensive price per gram is found within countries where illegal sales are still the only way to get cannabis. And the most expensive cannabis can be found predominantly in Asian countries such as Japan, South Korea, and China, where cannabis is strictly prohibited. In particular, illicitly traded cannabis in Tokyo, Japan can cost as much as USD 32 per gram. On the other hand, the price per gram is as low as USD 1.34 in Quito, Ecuador. Interestingly, Ecuador has not legalized cannabis for either recreational or medical use but instead, the Country has decriminalized up to 10 grams of flower for personal use. Similarly, other South American regions such as Bogota, Colombia and areas of Paraguay have priced their cannabis supply at roughly USD 2.20 per gram, according to Leafly. The prices are significantly cheaper in South America, even though several U.S. states had allowed medicinal cannabis by the turn of the century. In the U.S., cannabis prices are cheapest in Denver, Colorado and Seattle, Washington, which were the first two states to legalize recreational use. However, their prices are nearly triple or quadruple what they are in South American regions. Seattle, on average, sells each gram of cannabis for about USD 7.58, while Denver priced each gram at approximately USD 7.79. Even in U.S. markets where cannabis is completely legal, the prices are still extraordinarily high compared to South America. Washington D.C., the capital of the U.S., sells each gram for about USD 18.08, which is over 1200% higher than Quito, Ecuador. Moreover, Canada has experienced its cannabis prices increase by 17% just several months after legalization. Statistics Canada reported that some provinces witnessed the price jump from USD 6.83 to USD 8.02 per gram, while legal adult-use cannabis can cost as much as USD 9.70 per gram. Prices within the cannabis marketplace are still relatively high because the industry remains within a gray area. Nonetheless, as countries within the marketspace continue to mature, consumers can expect prices to drop dramatically. According to data compiled by Mordor Intelligence, the global cannabis market was valued USD 14.5 Billion in 2018. By 2024, the market is projected to reach USD 89.1 Billion while registering a CAGR of 37% during the forecast period from 2019 to 2024. Blueberries Medical Corp. (OTC: BBRRF) (CSE: BBM), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Aphria Inc. (NYSE: APHA) (TSX: APHA), PharmaCielo Ltd. (OTC: PHCEF) (TSX-V: PCLO), Khiron Life Sciences Corp. (OTC: KHRNF) (TSX-V: KHRN)
Khiron Receives Regulatory Approval for Uruguay Acquisition
TORONTO , June 7, 2019 /PRNewswire/ - Khiron Life Sciences Corp. (" Khiron " or the " Company ") (TSXV: KHRN), (OTCQB: KHRNF), ( Frankfurt : A2JMZC), a medical cannabis company with core operations in Latin America reports that the Company's previously announced agreement for the acquisition (the " Acquisition ") of NettaGrowth International Inc. (" NettaGrowth "), which at closing will own all of the outstanding shares of a Uruguayan company, Dormul S.A. (" Dormul "), is progressing as planned.