The legalization of cannabis in various countries around the world is being hailed as a godsend by those companies increasingly making their living at it.
Toronto-based Khiron Life Sciences Corp. (TSX-Venture:KHRN) gave particular attention to Wednesday’s announcement from the National Agency for Health Surveillance of Brazil, establishing a legalized environment for the sale and consumption of cannabis for medical use.
It’s of particular interest to Khiron because Brazil represents the largest addressable market in Latin America with a population of 208 million and a potential $229-Million U.S. patient network for medical cannabis.
Khiron will be taking part in in Brazil’s medical cannabis market through the Mercosur Regional Trading Bloc
Khiron co-founder Andres Galofre commented, "We congratulate legislators and the health authority in Brazil for their leadership in establishing a legalized environment for medical cannabis in the country.
"With a population of over 200 million, this will directly benefit the health and well-being of a significant number of patients in Brazil and affirms our position as a LatAm leader in a rapidly globalizing cannabis market."
Khiron shares moved into noon hour ahead nine cents, or 10.1%, to 98 cents, on volume of 288,000.