Featured Cannabis Penny Stock Pick for 2020: Khiron Life Sciences Corp.
Khiron Life Sciences Corp. (OTCQB: KHRNF) might be a great choice of investment when looking for a cannabis stock to invest in because of its recent distribution expansion announcement.
But is this one of the best cannabis penny stock picks for 2020?
The company announced on February 20th that sales of its Kuida® brand of cannabidiol (CBD) infused skincare products will expand to Spain. Khiron previously announced that it had fulfilled the requirements of skin care products in Europe and will enter its skincare product into a European market sector that is valued at over $6 billion, while Spain’s skincare market is estimated at $1.7 billion. The TSX Venture Exchange (TSXV) provided the company with a “no objection” letter that it will now use to gain entry into Spain’s skincare market.
Why do we like Khiron Life Sciences as a top cannabis penny stock pick for 2020?
- Strong International Presence: After the company was able to enter Spain with its “no objection” letter from the TSXV, Khiron also announced the plan to introduce Kuida® to the skincare market in the UK as well. Preparation to enter Kuida® into the Swiss market is still in the works as the company waits on separate approval from the TSXV. Clearly, Khiron continues to strive for a bigger presence in the global market and is not dependent on the Canadian cannabis market that has been slow to start. The global network that Khiron has established currently takes place in three different regions: Latin America, the United States, and Europe.
- Strong Latin American Presence: In Latin America, the company has a medical business line that is prescribed in Khiron’s ILANS and Zerenia clinics, a supplements business line, and its Kuida® skincare product in over 300 sales locations in Colombia, while the footprint of Kuida® in the U.S. is one location in Los Angeles at CannabisNow. The company also has two facilities in Latin America: One in Colombia, and one in Uruguay.
Featured Cannabis Penny Stock Pick for 2020: Khiron Life Sciences Corp.
The company has a strong grasp of international markets with the acceptance of its CBD skincare brand into Spain, and soon possibly the U.K., along with Latin America. Khiron has two facilities in Latin America that with one of them in direct support of almost 120,000 patients. Its Colombia facility is a 14,000 sq. ft. state-of-the-art, GMP certified cultivation facility that supports the treatment of more than 119,000 patients at its ILANS clinics. Khiron’s Uruguay facility will take the cake with its GAP-compliant 86, 111 sq. ft. cultivation space with a GMP-compliant 19,375 sq. ft. processing plant. The company’s Uruguay facility has a production capacity of 17 tons, or 544,000 ounces, annually.
For these reasons, we believe that an investment that is made into Khiron Life Sciences at or near the current price of $0.54 per share is a good cannabis stock investment opportunity for 2020.
Featured Cannabis Penny Stock Pick for 2020: Khiron Life Sciences Corp.
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