Khiron Life Sciences has provided a corporate update on core commercial and operational activities. The update includes a synopsis of the Company's position related to commercial revenue generating activities as well as an operational update on the status of the cultivation, extraction and testing facilities. As a result of the ILANS acquisition and launch of the Kuida® cosmeceutical brand, Khiron remains the only Colombian company to be generating cannabis revenues derived from legally approved production.
Khiron has reported that all activities are advancing with the objective of commercializing medical cannabis products in Colombia in accordance and adherence to all legal requirements. In doing so, the Company has progressed in the fastest timeframe possible from the issuance of new licenses, and leveraged the pre-established commercial distribution channels developed to generate scalable revenue generation and profit. "These activities are focused on establishing consistent channels of education and engagement, building sustained relationships and generating scientific data," the team with the company explains. This data and these channel relationships are being utilized to develop and advance cannabis product availability in the market. This is achieved in coordination with government, medical and financial organizations to increase market awareness and knowledge. The overall goal being to continue to enhance Khiron's robust business model while working to improve access for patients, and make medical cannabis available and affordable throughout the markets in which the Company operates.
Cultivation, extraction, and testing facilities
Khiron has established cultivation activities within Colombia, Uruguay and Chile. "These cultivation sites allow us to provide cannabis consumers and patients with a full variety of flower and extract-based products for domestic and international consumption," they point out. "These cultivation areas will facilitate upwards of approximately 25,000 kilograms of annual dried flower production capacity. At full capacity under the modular model, on completion of full construction of all licenced cultivation areas, we would have internally sourced capacity of producing upwards of 158,000 kilograms of annual dried flower at its disposal when needed."
"The Colombian operations are near commercialization and the strains, all of which are fully registered, have responded well to the grow environment, as anticipated. This includes an absence of any mold, fungus or parasites detrimental to cannabis plants. The testing results of the plants also verify an absence of any pesticides or other harmful compounds. As previously announced, the Colombian testing and extraction facilities have been completed and are currently operational, and are positioned for significant expansion of extraction and purification capabilities. We are currently working on GMP certification for the extraction facilities. Full commercialization of the grow site is anticipated in the third quarter. This will enable us to integrate our production into the established medical cannabis product distribution channels."
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