• Acquisition of ILANS, with 100,000 patients, a first step towards creating the leading clinic network in Latin America

Khiron Life Sciences Corp. (TSXV:KHRN), an integrated medical cannabis company with its core operations in Colombia, has signed the definitive agreement for the acquisition of the Latin American Institute of Neurology and the Nervous System (“ILANS”) previously announced on August 7, 2018. ILANS is one of the most respected, fastest growing, and largest neurological clinics in Colombia, and becomes a cornerstone of the Khiron Clinics business unit in Latin America.

The ILANS network represents 100,000 patients in Colombia and will position Khiron with approximately C$10.5 Millionin gross revenue and C$1.8 Million of EBITDA (2017 Audited Financial Statements). The ILANS acquisition provides a secure revenue stream.


Alvaro Torres, Khiron Co-founder and Chief Executive Officer stated, “After the closing of the ILANS agreement, we generate immediate revenue and greatly reduce patient acquisition costs. With Dr. Jairo Espinoza, ILANS´ founder and one of Colombia´s most respected specialists joining our senior executive management team, we are positioned to leverage the existing ILANS patient base to grow the Khiron Clinics business unit throughout Colombia and across Latin America, in keeping with our clinic expansion strategy.”

Material terms set forth in the definitive agreement include:

  • Issuance of 1,400,000 common shares, at C$1.50 per share, upon closing of the transaction
  • Cash payment of C$4,730,000 over a period of two years. The future cash payments will be secured by a promissory note
  • Cash payment of C$5.0 million for the attainment of milestones pertaining to patient acquisition up to a period of two years after closing of the transaction

The closing of this acquisition is subject to approval from the TSX Venture Exchange.

About the Latin American Institute of Neurology and the Nervous System

Latin American Institute of Neurology and the Nervous System (“ILANS”) is a network of health service providers. In 2017, ILANS treated 100,000 patients with neurological, psychiatric, respiratory, urological and orthopedic diseases, among others. ILANS patients are serviced by the Colombian health system and other countries.

Services are provided through programs with content, objectives and budgets. ILANS has various clinics, which bring together specialists and technicians from specific neurosciences and related specialties. The activities of each clinic provide for medical and surgical treatments. Patient clinical information is utilized to develop diagnostic studies from which medical and surgical treatments are derived.

About Khiron Life Sciences Corp.

Khiron Life Sciences Corp.  (TSXV: KRHN, OTCQB: KHRNF, Frankfurt: A2JMZC) (“Khiron” or the “Company”) is positioned to be the dominant integrated medical 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 tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming one of the first Colombian based medical cannabis companies 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 the former President of Mexico, Vicente Fox.

Further information on Khiron Life Sciences can be found at www.khiron.ca.

Forward-Looking Statements

This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. 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 information in this press release are reasonable, such forward-looking information 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 Filing Statement 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.

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.

For further information: Investor Contacts: Chris Naprawa, President, T: +1 (416) 705-1144, E: cnaprawa@khiron.ca; Darren Collins, Chief Financial Officer, T: +1 (705) 527-3564, E: dcollins@khiron.ca; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: jpacker@khiron.ca

Click here to connect with Khiron Life Sciences Corp. (TSXV:KHRN) for an Investor Presentation. 

Source: www.newswire.ca

Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff

Tactile Systems Technology (NASDAQ:TCMD)
Class Period:
May 7, 2018 – June 8, 2020
Deadline: November 30, 2020
For more info: www.bgandg.com/tcmd

Keep reading... Show less

PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (“PharmaTher”) (CSE: PHRM) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to provide a corporate update on its psychedelic pharmaceuticals program. Since its inception, the Company has built a unique product pipeline for novel uses of ketamine, psilocybin and undisclosed psychedelics. PharmaTher is positioning itself to partner its psilocybin program and panaceAI™, and focus on advancing its novel ketamine product pipeline in Parkinson’s disease, depression and pain via the U.S. Food and Drug Administration (“FDA”) regulatory pathway.

“We have made tremendous progress over the last several months that saw our product pipeline evolve to focus on the massive opportunity and potential of ketamine, an FDA approved drug with a known safety profile, to treat significant unmet medical needs for Parkinson’s disease, depression and pain,” said Fabio Chianelli, CEO of PharmaTher. “With our focus on ketamine through repurposing, combining it with an FDA approved drug and delivering it with our novel microneedle delivery system, we are now positioned to expedite our clinical development objectives by taking advantage of the FDA’s 505(b)(2) regulatory pathway and commercializing disruptive ketamine treatments for mental health and pain disorders.”

Keep reading... Show less

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Tilray, Inc. (NASDAQ: TLRY), Icanic Brands (OTC: ICNAF) (CSE: ICAN), Aurora Cannabis (NYSE: ACB)(TSX: ACB), and Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED).

Cannabis leaders are focusing on innovation in premium branding, global expansion, and tight operational execution in the drive towards profitability. Wall Street Reporter highlights the latest comments from industry thought leaders:

Keep reading... Show less

Chemesis International Inc. (the “Company”) (CSE:CSI)(OTCQB:CADMF)(FRA:CWAA

The Company announces that its (former) subsidiary, Natural Ventures PR, LLC (“NVPR”), has sold all of its cannabis assets, and assigned all related liabilities, licenses and permits, to Puerto Rico Industrial Commercial Holdings Biotech Corp. (“PRICH”) in exchange for immediate net cash proceeds to the Company, in respect of its 80% interest in NVRP, of US$450,000. The Company notes that, in connection with, and as a condition to, this transaction, it will cease to be a shareholder of NVPR.

Keep reading... Show less

Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), an emerging leader in reducing the carbon footprint of cement products using natural pozzolans, is pleased to announce it has sold and optioned a combined total of 10 million of its 10.5 million shares of Snow Lake Resources.

The sale and option agreements were made with two arms-length purchasers. The first sale was for 1,700,000 shares at $0.04 per share for a total of $68,000 and includes an option granted by PLAN entitling the same party to purchase an additional 4,966,666 shares at $0.04 per share until May 11, 2021 . The second sale was for 1,250,000 shares at $0.04 per share for a total of $50,000 and includes an option granted by PLAN to such party to purchase an additional 2,083,334 shares until August 14, 2021 . As at the date of this news release, PLAN has received $116,000 and will receive another $284,000 if the remaining shares are purchased under the option agreements.

Keep reading... Show less