- On
December 30, 2022 , theMinistry of Health of Colombia reaffirmed the inclusion of plant-based medical cannabis products, i.e., Khiron products, in the mandatory insurance coverage system - Starting
January 1st, 2023 , every insurance provider inColombia , is mandated to cover the costs of medical cannabis prescriptions for patients - Khiron will immediately start filling backlogged orders of insurance-covered prescriptions in
Colombia - New Contract Awarded: Additionally, in
December 2022 , Zerenia™ Colombia entered into a contract with the largest Government-owned insurance company in the city ofBogota with over one million people under coverage, to provide healthcare services with medical cannabis for its patient population
Resolution 2808 of 2022 was signed by the Ministry of Health on
The Government used this iteration to also validate medical conditions where they find moderate to strong evidence that cannabis is an effective treatment. These medical conditions evaluated by the IETS (
During the first half of 2022, insurance-covered prescriptions represented more than 90% of the Company´s cannabis sales in
In addition, Zerenia™ Colombia (Khiron´s wholly owned medical cannabis clinic network), has entered into a contract to provide "
About
Khiron is a leading global medical cannabis company with core operations in
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Cautionary Statement Regarding Forward-Looking Information
This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.
Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.
As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE
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