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While legalizing the medical use of marijuana was a step in the right direction, the local industry has been saddled by red tape.

"We're getting some great results from a margin perspective, 60% margin, 65% margins on those categories."- Luis Merchan

Prior to joining the Flora team, Garayev served in a variety of financial leadership roles at companies such as Amazon, Boeing BP and RPK Capital.

Khiron says proceeds of the offering will be used for general corporate and working capital purposes.

The new law enables domestic production and marketing of non-psychoactive cannabis products, and further defines import and export rules.

The 4,000 square foot facility features 11 patient rooms and according to Khiron, can handle 40,000 patient consultations per year.

The export of the high-THC product is pending the dried-flower checklist from the Colombian government from the 2021 update to the cannabis law.

Khiron has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is positioned to commence sales in Mexico.

Q3 2021 revenue increased 83% YoY to $3.5 million compared to the previous year. Continued strong gross margins for medical cannabis segment at 89%

Year to date medical cannabis prescriptions have exceeded 35,000 units, 600% more than the entire 2020 fiscal year. Khiron will expand its flagship clinic brand, Zerenia to the UK, with the first Zerenia opening in London in Q4 2021.