Kuida is One Year Old! First Export to the US Market, UK Product Approval, and 300+ Points of Sale in Colombia
Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV:KHRN, OTCQB:KHRNF, Frankfurt:A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, announced today that, after a successful first year in the Colombian market, the Company adds another significant milestone: its first import of Kuida cosmetic products into the United States. With this first shipment complete, Kuida has become the first Colombian brand to introduce legal CBD products in the US market.
Launched initially in October 2018, the Kuida brand includes a pioneering line of CBD skincare, which were the first such products in Colombia to include CBD as an ingredient. Since then, the Company has built on its trail-blazing launch with a series of milestone achievements. Highlights include:
Entry into International Markets
- Upon completion of its first shipment of Kuida product earlier this month, the Company has officially entered the U.S. skincare market, valued at $20 billion USD in 2018. The launch and first sales of product are expected for November 2019.
- The Company also recently announced that it has fulfilled E.U. cosmetic product regulatory requirements for seven Kuida products. The Company will begin with import and marketing in the UK, with first sales expected in Q1 2020, before a planned expansion to Spain, Germany and the broader European market, subject to the specific requirements of individual member states and TSXV approval.
Growing Distribution Network, with 300+ Points-of-Sale
- Kuida is currently available in Colombia nationwide, with an established and growing distribution network of prominent national retailers and significant e-commerce platforms, including Farmatodo, Fedco, Linio, and Droguerias Cafam.
- In addition to previously announced distribution agreements, Khiron continues to expand its presence in all regions in Colombia through new partnerships with four prominent retailers in Colombia. Providing an additional 42 points-of-sale, the latest distribution agreements further include expansion potential to 700 stores.
Expanded Portfolio and Strong Marketing Campaign for the New Year
- Aiming to provide consumers with a comprehensive selection of CBD skincare, the Company received approval from INVIMA, Colombia’s health agency, in September 2019 to commercialize three additional Kuida CBD skin care products. Sales of the newly approved products are expected in Q4 2019.
- Kuida has participated in high-profile and highly selective events across Colombia, the US and Europe, including Cosmoprof Worldwide Bologna, FounderMade East, Cosmoprof North America, and Salud y Belleza Colombia. In March 2020, Kuida will be prominently featured at Cosmoprof Worldwide Bologna, reaching over 265,000 global attendees and buyers.
- Launching last month at Salud y Belleza 2019, Kuida has unveiled a new campaign, titled “We Do it Different.” Jewelry designer Daniela Salcedo, writer Amalia Andrade and news anchor Jessica de la Peña have joined Kuida as brand ambassadors, working with the brand to educate consumers on CBD and to inspire women to take ownership of their own personal care. Together, through their combined social media following, Kuida’s message of “We Do it Different” will reach over 1.4 million women and consumers.
Elsa Navarro, Skin Unit Director of Khiron Life Sciences, commented, “When Kuida launched last year, it became the first brand of its kind in Colombia to bring the benefits of CBD to a comprehensive line of skin and personal care products. But our leadership in the market goes beyond that – we were also the first licence holder in Colombia to educate on the use of CBD on skin through mass media, billboards, TV commercials and pop-up stores. We have built a diverse customer base, established a robust distribution network, and set the standard for sophisticated, safe CBD products in the Latin American market. Looking forward, we expect another exciting, successful year ahead as we introduce our brand to the US and European markets.”
About Khiron Life Sciences Corp.
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 Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.
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. The Company 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.
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. 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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