As interest in Latin America’s medical marijuana industry grows, a major stock exchange in Canada could soon see the first listings from companies with their core operations in Colombia.
Khiron Life Sciences CEO Alvaro F. Torres told Marijuana Business Daily the company expects to complete the regulatory paperwork in time to start trading as early as next week on the TSX Venture Exchange under the ticker symbol KHRN.
“This is a major milestone for us and the country, because this means the (TSX Venture Exchange) has also validated the Colombian regulatory system and found it satisfactory,” Torres said. “I know we are breaking ground for many more companies to list and this is a proud achievement.”
Khiron is among a number of Latin American medical marijuana companies with their core business in Colombia and head office in Toronto to tap Canada’s cannabis-friendly capital markets.
Another, PharmaCielo, is in the midst of a reverse takeover with AAJ Capital 1 Corp. that could lead to a stock exchange listing in Toronto in the next few months.
PharmaCielo is the market leader in Colombia based on active and fully operational facilities.
The company began cultivation at its 1.2 million square foot “open air” greenhouse at the end of 2017.
Colombia is the second-largest federally regulated medical marijuana market in the world – behind Germany – by population.
Industry executives plan to use Colombia as a springboard to serve the region’s 400 million-plus people who live in nations where some form of marijuana is legal.
Matt Lamers can be reached at firstname.lastname@example.org
To sign up for our weekly Canada marijuana business newsletter, click here.