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PharmaCielo and Khiron Reach Settlement Agreement

TORONTO, Canada and RIONEGRO, Colombia (December 27, 2017) – PharmaCielo Ltd. (“PharmaCielo”) and Khiron Life Sciences Corp. (“Khiron”) announced that they have reached a satisfactory resolution of the complaint filed by PharmaCielo against Khiron with the Colombia Superintendent of Industry and Commerce.

PharmaCielo has accepted the settlement terms provided, including a shareholder of Khiron transferring 100,000 common shares of Khiron to PharmaCielo, and will not pursue the matter further.

Under the terms of the settlement agreement, no further details will be provided.

About PharmaCielo Ltd.

PharmaCielo Ltd. is a global company privately held and headquartered in Canada, with a focus on processing and supplying all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo’s principal (and wholly-owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its nursery and propagation centre located in Rionegro, Colombia. 

The boards of directors and executive teams of both PharmaCielo and PharmaCielo Colombia Holdings are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia’s ideal location will play in building a sustainable business in the medical cannabis industry, and has built a compelling business focused on supplying the international marketplace.

More information:
www.PharmaCielo.com

About Khiron

Khiron Life Sciences Corp. is a Canadian integrated medical cannabis company with its core operations in Colombia. Khiron combines leading international scientific expertise, agricultural advantages, and branded product market entrance experience to address the unmet medical needs in a market of over 620 million people in Latin America.

More information:
www.Khiron.ca

Contacto de medios – PharmaCielo

Canadá:
David Gordon
Tel: +1 647 259 3258
Email: david.gordon@cohnwolfe.ca

Colombia:
Juan Manuel Cuellar
Tel: +57 310 3298776
Email: juan.m.cuellar@sprgroup.biz
 

Contacto de medios – Khiron

Colombia:
Alvaro Torres, CEO
Teléfono: +57 (320) 4950326
Email: aftorres@khiron.ca

Canadá:
Darren Collins, CFO
Teléfono: +1 (705) 527 3564
Email: dcollins@khiron.ca

 

This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or “recurring” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, such as demand for the Company’s products, currency exchange changes and risks, internal funding and the financial condition of the Company, product roll-out, competition, technological changes, and other commercial matters involving the Company, its products, and the markets in which the Company operates, as well as general economic conditions, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 

Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in subsequent reports should be consulted.