Vincente Fox in Toronto for Khiron Life Sciences Board Meeting
Khiron Life Sciences’ (TSXV: KHRN) recently appointed Director and former President of Mexico from 2000 to 2006, Vicente Fox, was in Toronto last week to attend KHRN’s Board meeting. Fox is probably most visible and influential cannabis advocate in Latin America. He expressed the opinion that in 2019, Mexico will legalize recreational and medical marijuana. He points out President Mr. Lopez Obrador who will take office on December 1, 2018 was elected on a platform of ending the drug war by giving amnesty to low level criminals and ending drug prohibition as a tool to break the drug cartels. He also said that Canada and Columbia have established excellent models to follow.
KHRN’s Chief Executive Officer, Alvaro Torres, said the possibility of Mexico opening up to legal operators was an important motivation for teaming up with Mr. Fox. We note the population of Mexico is over 130 million or over three times as large as Canada. Torres noted that although there are no major Canadian cannabis companies in Mexico, there weren’t any in Colombia when he founded Khiron. Torres added that when the Canadian companies come calling in Mexico, he expects the Khiron brand and goodwill to be well established.
We think breaking into Mexico will be difficult but getting established in Colombia wasn’t easy. From an investment perspective, you want to own the company that is spearheading entry into Latin America and KHRN is that company. Khiron is a significant position in Ted Ohashi’s Model Portfolio in The Cannabis Report. For information on Khiron and The Cannabis Report Model Portfolio, please send a request to email@example.com.