Khiron Life Sciences Corp. (KHRN) has closed an unsecured revolving credit facility The company closed the credit facility with a private financing company in Colombia through its wholly-owned subsidiary, Zerenia Colombia The 12-month C$ 580,000 revolving credit facility took effect on February 10, 2023 Khiron is a leading medical cannabis company with core operations in Latin America and Europe Khiron Life Sciences Corp. (KHRN) opened trading at $ 0.11 per share
Khiron Life Sciences Corp. (KHRN) has closed an unsecured revolving credit facility.
The company closed the credit facility with a private financing company in Colombia through its wholly-owned subsidiary, Zerenia Colombia.
The 12-month revolving credit facility, which is worth C$ 580,000,took effect on February 10, 2023.
The company was granted this working capital credit line following its establishment of a relationship with the financing company over the past year.
Khiron’s business model with a growing patient base has been strengthened by recent accomplishments, including mandatory insurance coverage in Colombia, NHS coverage in the UK, and the engagement of Colombia’s largest public insurance company, Capital Salud.
“Over the past years, we have gained the trust of patients, governments, large insurance companies, and now also financing companies,” said Alvaro Torres, CEO of Khiron.
“Having access to non-dilutive capital for the first time in the company’s history is something we have been working on for quite some time, and we will use this momentum to continue building relationships with the traditional banking and finance sector as our company continues to grow and achieve profitability,” he added.
The unsecured revolving credit line provided to Zerenia SAS bears an annual interest rate of DTF + 10.5 per cent.
Khiron is a leading medical cannabis company with core operations in Latin America and Europe.
Khiron Life Sciences Corp. (KHRN) opened trading at $ 0.11 per share.
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Khiron (TSXV:KHRN) closes revolving credit facility with financing company in Colombia