Fake News in Marijuana Business Daily on Khiron (TSXV: KHRN)
An article by Alfredo Pascual in Marijuana Business Daily dated May 31, 2019 had the effect of creating, in my opinion, a completely false impression about Khiron Life Sciences (TSXV: KHRN) (OTCQB: KHRNF) and its position with Colombian regulations.
As a person who has spent an entire career reading and writing financial reports on companies, financial markets and financial variables, I believe I have the skills necessary to identify an unacceptably researched investment report when I see it. Having a Bachelor of Commerce, Masters of Business Administration and a Chartered Financial Analyst degree as well has having been licensed as an Investment Advisor and Portfolio Manager, I believe I have the credentials and expertise to say Mr. Pascual’s article in Marijuana Business Daily would not pass muster as a professionally written research report. Not even close.
But never mind this misleading article, consider the facts released by KHRN recently:
The construction and the initiation of operations in its cultivation, extraction, and analysis facilities in Ibague, Colombia have been completed.
Significant progress has been made towards the commercial registration and production of medical cannabis products targeting 6 million potential patients across the country.
Owns and operates one of the most sophisticated medical cannabis cultivation and processing facilities in Latin America.
Completed development of a state-of-the-art, 14,000 sq. ft. GMP and ISO 17025 compliant extraction and analysis lab.
Obtained approval from the National Cultivar Registry and Colombian Institute of Agriculture (ICA) to list a proprietary selection of strains forming a targeted portfolio to address the major conditions of pain, epilepsy and sleep disorders.
This approval positions KHRN to initiate commercial registration, production and sale of its medical cannabis products across Colombia.
Begun construction of additional greenhouses to complement KHRN's initial 80,000 sq. ft. greenhouse.
Established distribution networks to supply high quality medical cannabis produced in KHRN's main facility, with signed agreements with 903 pharmacies across Colombia.
Conclusion: given the informal investor discussions in chat rooms and questions I received from readers asking generally about the weakness in Khiron’s stock price and specifically with respect to this article, I have to believe it played some role in the KHRN market action last week. I believe the points made above should convince anyone that KHRN is the cannabis leader in Latin America. I believe the stock will snap back relatively quickly as more and more investors realize that KHRN is the leader in Latin America and deserves to trade at a much higher market cap.