Khiron Life Sciences Transfers 100,000 Shares to Settle Dispute with PharmaCielo

Two companies operating in the medicinal marijuana industry in Colombia, PharmaCielo Ltd. and Khiron Life Sciences Corp., have settled a legal dispute.

According to the two companies, they “have reached a satisfactory resolution of the complaint filed by PharmaCielo against Khiron with the Colombia Superintendent of Industry and Commerce” (Superindustria).

The resolution includes PharmaCielo accepting “the settlement terms provided” by Khiron, which includes the Toronto-based firm transferring 100,000 common shares of its company to PharmaCielo.

PharmaCielo said in a statement that it “will not pursue the matter further” and that “under the terms of the settlement agreement, no further details will be provided.”