On June 19, 2019, Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF) (Frankfurt: A2JMZC) announced that it had completed its previously announced acquisition of NettaGrowth International Inc. and its wholly-owned subsidiary Dormul S.A. As consideration for the acquisition, Khiron issued 8,498,821 common shares to the shareholders of NettaGrowth at a deemed price of $1.61 per common share.
Khiron is positioned to be the dominant integrated cannabis company in Latin America. The company has core operations in Latin America and is fully licensed in Columbia for the cultivation, production, domestic distribution, and international export of both THC (tetrahydrocannabinol) and CBD (cannabidiol) medical cannabis. In May 2018, Khiron listed on the TSX Venture Exchange, becoming the first Colombian based medical cannabis company to trade on any exchange globally.
NettaGrowth, through Dormul, is a Latin America export focused cannabis company based in Uruguay, and is well positioned to serve Brazil and the growing Latin American market. Dormul is a Uruguayan company that has obtained the first licence to produce and export medical cannabis with THC for commercialization in Uruguay.
Gowling WLG advised Khiron in this acquisition with a team that included Peter Simeon, Marek Lorenc, Sachin Seth, Olivia Lifman and Joseph McDonald.