Vicente Fox and Khiron Life Sciences Corp. (TSXV:KHRN) intend to supply cannabis to the 640 million people that reside in Latin America, according to an article by Bloomberg.
Former Mexican president and cannabis-legalization activist, Vicente Fox, has noticed that the governments in Latin America are legalizing the use of cannabis, a plant that was once shunned by many countries. As Latin America embraces cannabis, Fox is keen to see Khiron Life Sciences Corp. (TSXV:KHRN), the Canadian cannabis company on which he is a board member, be a cannabis supplier to the 640 million people that reside in the area, according to an article by Bloomberg. To date, 10 governments in Latin America and the Caribbean have passed legalization. Mexico is poised to join others in the region and legalize, which is keeping Khiron busy as they work on establishing themselves in each area as countries finalize their regulations.
“We have a new world,” said Fox. “It’s surprising for an activity that was in the hands of criminals, illegality and the underworld. The paradigm has totally changed.”
Khiron will be launching sales throughout Latin America this year and is currently selling products in Colombia. Medical cannabis sales in the region are expected to reach $15 million by 2025, according to an estimate by BMO Capital Markets. Additionally, they have recently entered into a joint venture with Colorado-based Dixie Brands Inc. (CSE:DIXI.U) to market a line of medicinal products with cannabis cultivated in four countries in the region. Under the joint venture, Khiron will be supplying the product and obtain the necessary approvals and licenses, and Dixie Brands will provide the formulas and brands.
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