Khiron Life Sciences Corp
Cannabis

Khiron Life Sciences Corp (OTCMKTS: KHRNF) Shows Strong Rebound, Further Upside Eyed

Khiron Life Sciences Corp (OTCMKTS: KHRNF) is back to winning ways after announcing a multi-country operator strategy, in pursuit of market share in the $131 billion skincare market. Shares of the company have taken off as investors react to a flurry of positive developments that underscore growth prospects.

Khiron Life Sciences Price Analysis

The stock is on the brink of registering new higher highs after rallying by more than 100% since the start of the year. An uptick in the upward momentum is the latest catalyst fuelling the upside action as investors continue to jostle for stakes in the company.

The inking of strategic partnerships has opened the door for the stock to expand its footprint into some of the biggest markets in Latin America. For starters, the company has inked a deal that will see its cannabis-infused skin care products available in over 900 pharmacies in Colombia.

In Uruguay, the company has signed a deal to acquire NettaGrowth International. The acquisition should increase the company’s total cannabis production to 220 tons.  Europe is another market that the company is maintaining a keen interest in. The company has since acquired a prominent hemp Product Company based in Italy, Canapalife.

The stock flying high in response to the flurry of positive development affirms strengthening investor confidence about long-term prospects. As it stands, Khiron Life Sciences is staring at the $3 a share resistance level as part of an emerging uptrend after a minor correction.

KHRNF Daily Chart

With the upward momentum gathering pace, it could be a matter of time before the stock takes out the critical resistance level on its way to registering a new higher high.

Conversely, failure to breach the resistance level could see the stock trading sideways in a tight trading range of between $3 and $2.20, as has been the case in recent months.

What Does Khiron Life Sciences Do?

Khiron Life Sciences is engaged in the development of cannabis products for medical purposes.  The company is seeking to become a dominant integrated cannabis company in Latin America where it is fully-licensed for production and domestic distribution of THC and CBD medical cannabis.

Colombia Distribution Deals

Shares of Khiron Life Sciences have taken a flight in recent weeks on the confirmation of a medical cannabis distribution agreement for over 900 pharmacies in Colombia. The company’s medical cannabis products will be distributed across the country, thanks to a deal the company has inked with Copservir Ltd., the largest pharmacy chain.

The agreement establishes a compliant and secure distribution platform for Khiron Life Sciences medical products across Colombia. The deal should strengthen the Company’s sales channel expected to lead to an increase in revenues going forward.

“The proposed agreement with Copservir Ltd represents a significant development for Khiron, offering the opportunity to leverage our first-mover advantage to distribute medical cannabis products across Colombia and service the more than 5 million potential patients in the country,” Alvaro Torres, Khiron CEO and Director commented.

Khiron Life Sciences has since followed the Copservir deal with the signing of yet another distribution agreement, this time with Cafam, another drugstore chain in Colombia.  The agreement should expand Kuida cosmeceutical brand point of sales, further strengthening the company’s revenue base.  Under the terms of the deal Kuida, products will be made available in another 150 stores in over 60 markets in Colombia.

Europe Expansion

Europe is another exciting market that the company has set sights on as part of its expansion drive. The company has since acquired a 100% economic interest in Canapalife, a hemp product company operating a cultivation site in Padua, near Venice Italy.

“The proposed transaction offers Khiron an entry to the European market and expansion of our global footprint. In addition to increasing our multi-jurisdiction cultivation and production capacity, Canapalife offers the addition of dynamic brands to our product portfolio,” stated Mr. Torres.

Khiron Life Sciences is also in the process of initiating its first cannabis clinical research in Latin America.  In partnership with Centro Dermatológico Federico Lleras Acosta (“CDFLLA”), the two will seek to analyze the effectiveness of medical cannabis for dermatological conditions.  The partnership also seeks to enhance product development to address the global skincare market.

Bottom Line

Khiron Life Science finds itself at a crucial juncture after registering solid gains since the start of the year. The stock is likely to break out given the underlying fundamentals that continue to strengthen market sentiments.

Strengthening cannabis operations in Latin America, as well as expansion into Europe, are some of the developments that underscore the company’s growth metrics. As it stands, Khiron Life Sciences is a potential break out play on strengthening bullish momentum.

We will be updating our subscribers as soon as we know more. For the latest updates on KHRNF, sign up below!

Disclosure: We have no position in KHRNF and have not been compensated for this article.

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Khiron Life Sciences Corp (OTCMKTS: KHRNF) Shows Strong Rebound, Further Upside Eyed
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