- Retail distribution with Fedco, the first and most established specialized beauty retailer in Colombia, with 22 stores expanding reach to 50% of Colombia's territory
- Online distribution secured with Colombian e-retailer Linio, controlled by Grupo SACI Falabella, the largest retailer in Latin America with approximately US$15 billion in revenue in 2017
- Increases Kuida® brand retail exposure to 78 store locations and approximately 600,000 monthly e-commerce visitors
- New agreements demonstrate continued first-mover advantage following successful initial Farmatodo product launch
TORONTO, April 3, 2019 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (KHRN.V), (KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, announced today that it has signed multi-channel distribution agreements for its Kuida® cosmeceutical brand with Fedco and Linio, two of the most prominent consumer distribution channels for wellness and beauty products in Colombia. In combination with the initial product launch through Farmatodo and Farmalisto, it is anticipated that the Kuida® brand will now be made available in up to 78 retail locations and through the country's leading online portal for beauty products. Initially focused on distribution in Colombia, these agreements create potential for the Company to further expand distribution across other Latin America jurisdictions.
Alvaro Torres, CEO and a Director of Khiron, comments: "These agreements with Fedco and Linio further deliver on our market strategy for Kuida® and provide the flexibility to tap into cross-selling opportunities as consumers increasingly adopt CBD based cosmeceuticals into their skincare regimen. We look forward to working with some of the largest retailers in Colombia as the Kuida® brand increases its presence in the marketplace and is positioned for future growth."
Cristina Acosta, Marketing Director of Fedco comments: "We are happy to announce this retail distribution agreement with Khiron for the Kuida® brand. Our company also seeks to provide consumers with the most innovative and unique line of product offerings and we believe the Kuida® brand aligns perfectly with this core objective. We also believe this arrangement represents an excellent union between two Colombian companies that will result in positive economic opportunity and development." The agreement with Fedco gives Kuida® prominent store merchandising and point of sale display across 14 cities in Colombia.
Camila Gonzalez Manager of Beauty and Fashion Category of Linio comments: "We are pleased with this agreement with Khiron because of the potential that the Kuida® brand has in the Latin-American market. We have a strong presence in the region and look forward to introducing the brand and the category to our consumers."
Fedco is one of the largest beauty retailers in Colombia with 40 years in the market, generating over 600,000 transactions per year.
Linio is the leading online store in Latin America with more than 600,000 visits monthly, 20,000 Items dispatched monthly, and a strong presence in 6 countries within the region. Parent company Grupo SACI Falabella, a large retailer with presence in Chile, Peru, Colombia, Argentina, Brazil, Uruguay and Mexico.
Kuida®, the first consumer brand of Khiron's wellness business unit, brings the benefits of cannabidol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida® was launched in Colombia in September 2018 through retail, wholesale and online channels and with a distribution agreement with Farmatodo, one of Colombia's largest pharmacy chains with 56 stores.
Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in the country for the cultivation, production, domestic distribution, and international export of both THC (tetrahydrocannabinol) and CBD (cannabidiol) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming the first Colombian based medical cannabis company 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 former President of Mexico, Vicente Fox.
Further information on Khiron Life Sciences can be found at https://investors.khiron.ca/
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Market and Industry Data
This press release contains market and industry data and forecasts that were obtained from third-party sources, industry publications and publicly available information. Third-party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of included information. Although management believes it to be reliable, the Company has not independently verified any of the data from third-party sources referred to in this press release, or analyzed or verified the underlying studies or surveys relied upon or referred to by such sources, or ascertained the underlying economic assumptions relied upon by such sources.
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. Forward-looking statements may be identified by statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking statements herein include, but are not limited to, statements regarding the anticipated benefits of the distribution agreements, including online and physical retail consumer exposure, and potential expansion into other jurisdictions, among others. 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 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 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.
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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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