A significant event is taking place as we speak, as Canada nears the first anniversary of the legalization of cannabis.
Toronto-based Khiron Life Sciences Corp. (TSX-Venture:KHRN) is making more pronounced inroads into Europe. The company has completed the European Union cosmetic regulatory process for seven Kuida products, and has received a "no objection" letter from TSX Venture Exchange with respect to distribution of these products in the U.K.
According to Khiron Europe President Tejinder Virk, "The fulfillment of EU cosmetic regulatory requirements allows the Company to bring our proven product line into the sophisticated and growing European skincare market, where we expect to rapidly build and grow Kuida's market share.
"We will initially focus on import and marketing in U.K., with our first sales expected in Q1 2020, before expanding to Spain, Germany and the broader European market, subject to the specific requirements of individual member states and TSXV approval."
Kuida®, the first consumer brand of Khiron's wellness business unit, brings the benefits of cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida was launched in Colombia in October 2018 through retail, wholesale and online channels and is now available nationwide and through e-commerce channels.
Shares in KHRN climbed six cents approaching noon on Tuesday, or 5.8%, to $1.09, on volume of 159,000
