Thursday, June 13, 2024

Canadian medical marijuana firm names ex-president Fox to its board

Mexico’s most visible proponent of the legalization of marijuana and a former president has joined the board of another foreign marijuana-related firm.

Khiron Life Sciences, a Canadian medical marijuana company that operates in Colombia, announced it had appointed former president Vicente Fox Quesada to its board of directors.

Fox is to serve as “strategic advisor and brand ambassador,” Khiron said in a statement, and will promote the firm’s education and brand leadership interests across Latin America.

Fox said it represents “a great opportunity to accomplish our dream of reducing violence in Mexico due to the underground and illegal criminal activities related to cannabis and move to a new legal industry creating jobs and income for families, taxes to governments and wealth creation . . .”

Khiron’s core operations are in Colombia where it is fully licensed for the cultivation, production, domestic distribution and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis.

Fox is a long-time promoter of legalizing marijuana in Mexico. During the opening ceremony in May of the CannaMéxico World Summit, a medical marijuana conference hosted by the ex-president’s foundation Centro Fox, the ex-president stated that “Mexico arrives late to this new industry and these new markets. We have to close the gap and be at the forefront.”

Khiron CEO Alvaro Torres said that after participating in CannaMexico 2018 “it was clear that the collaboration between Khiron, former president Fox and Centro Fox provided the opportunity to greatly advance our shared interests in increasing the level of education and understanding of the benefits of medical cannabis for all of Latin America.”

He said that by appointing Fox to the firm’s board and forging an alliance with his organization, Khiron’s scope of influence and relationships within the Latin American market will expand significantly.

The firm said it is well positioned to enter the Mexican market by establishing a subsidiary to submit license applications, complete an in-depth regulatory review of the country’s legal medical cannabis landscape as well as an assessment of market needs.

Mexico has nearly 11.7 million potential candidates for medical cannabis treatment, it said.

Fox, who was president from 2000 until 2006, was named last month to the board of the company that owns marijuana magazine High Times.

Source: El Economista (sp)

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