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Khiron welcomes EU trade deal with Latin American countries

01 July 2019 | News

The trade deal between the European Union and Mercosur announced on June 28, 2019 at the G20 Summit in Japan

Khiron Life Sciences Corp., a cannabis company with core operations in Latin America, applauds the EU-Mercosur Trade Agreement announced between the European Union and Mercosur, the Latin American trading block made up of Argentina, Brazil, Uruguay and Paraguay. Khiron is active among Mercosur jurisdictions with a recently completed acquisition of NettaGrowth International, a cannabis company based in Uruguay.

The trade deal between the European Union and Mercosur announced on June 28, 2019 at the G20 Summit in Japan, which is subject to ratification by member countries, establishes a trade framework for goods and services, including pharma and medical products, covering nearly 780 million consumers, making it the largest in the world in terms of population, and with an estimated trade in goods of 88 Billion Euros (Source: European Commission). 

Alvaro Torres, Khiron CEO and Director, comments "As we build Khiron's dominant position in Latin America and Mercosur markets through our operations in Uruguay, we welcome this trade deal as it strengthens our ability to now directly supply the European medical cannabis market. This significant milestone is another step towards a globalized medical cannabis trade network where Latin America, with its strategic location, many natural advantages and regulatory leadership, will continue to play a significant part."

Khiron announced completion of the acquisition of NettaGrowth International on June 19, 2019. NettaGrowth, and its wholly-owned subsidiary Dormul S.A. is a Uruguayan company that has obtained one of the first licences to produce and export medical cannabis with THC for commercialization in Uruguay, and is positioned to serve Brazil and the growing Latin American market as part of the Mercosur trading block, adopting the Company's scalable model as markets develop.

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