TORONTO, Nov. 30, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Corporation") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Latin America and Europe, announced today its financial results for the quarter ended September 30, 2022, which were prepared in accordance with International Financial Reporting Standards ("IFRS"). Third quarter 2021 comparable numbers were also prepared in accordance with IFRS. All financial results for the third quarter ended September 30, 2022, and related comparisons to prior periods included in this press release have not been reviewed by the auditors of the Corporation. These filings are available for review on the Corporation's SEDAR profile at www.sedar.com. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

Summary of Key Financial Results:

Q3 2022 operating highlights and subsequent events:

• Adjusted EBITDA loss of $2.8 million, a reduction of 25% year-over-year, driven by a decrease of 17% year-over-year in expenses during Q3 2022, and the Corporation´s high gross margins across its medical cannabis segment of 67%.
• Overall revenues for Q3 2022 decreased 24% driven primarily by a reduction of medical cannabis sales in Colombia, due to an interruption in insurance-covered prescriptions for Colombian patients during the new change of Government, which began its new period August 7^th, 2022. The new incoming Government is reviewing the protocols for use of medical cannabis for specific conditions for which there is much evidence of medical cannabis use, to create a more robust financing framework under Colombia´s universal health benefits system.
• In Europe, revenues increased by 141% year-over-year, driven by revenues in the United Kingdom, where the Corporation is now increasing its existing product portfolio. In Germany, the restart of Khiron medical cannabis product sales was delayed because of import product approvals to Pharmadrug GmbH ("Pharmadrug") for Khiron's existing and new product portfolio, which have now been obtained. The Pharmadrug acquisition enables Khiron to sell directly to pharmacies in Germany without the need for a third-party distribution partner. As a result of the Pharmadrug acquisition, the Corporation was able to successfully export to and sell its first two medical cannabis SKUs in Switzerland. The acquisition formally closed on August 2^nd, 2022, after the clearance certificate required under German Foreign Trade Regulation was obtained. Since obtaining import approvals from German regulators, Khiron is now selling a total of seven medical cannabis SKUs and further SKUs are already registered and will be launched over the next weeks.
• In October 2022, Khiron began sales of its first THC-dominant, Khiron-branded products into Brazil, making it one of the first companies to sell approved THC medications into the country. The Company opened its first Zerenia^TM clinic in Rio de Janeiro and it is in full operation.
• As of September 30, 2022, the Corporation´s cash used in operating activities was $9.8 million, compared to -$15.2 million in the nine months ended September 30, 2021, resulting in a net cash of $1.9 million at the end of Q3 2022. The Corporation continues to actively manage its working capital cycle, while reducing overall general and administrative costs. 
• In November 2022, the Corporation was approved a loan with one of Colombia´s most traditional bank lenders for an initial amount of approximately $700,000, which will be used to fund working capital requirements in its Zerenia™ clinical operations in Colombia. This would mark the first time that a privately-owned, traditional banking entity lends funds to a medical cannabis-related business in Colombia. In addition, the Corporation continues to evaluate options for capitalizing the growth of its business.

Management commentary:

Alvaro Torres, Khiron CEO and Director, comments, "This quarter presented transitional challenges in Colombia and Germany, impacting top line sales and our short-term goals on profitability. In Colombia, insurance coverage has always been a priority for the Company, and as we have witnessed in the past year and a half, it's an importance in serving patients from all communities. The new Government has been very supportive of the industry and the efforts of companies such as Khiron to ensure access to medical cannabis.  We want to thank our patient base, who was instrumental in advocating for the need of insurance coverage, and the Government of Colombia who will create a more robust long-term framework, so that medical cannabis continues reach patients who depend on our services. In Germany, we are pleased to have finished all regulatory approvals for the acquisition of Pharmadrug as well as obtaining import permits for our product portfolio. This has allowed us, in Q4 2022, to increase our presence in this country and to look at different growth opportunities through our Pharmadrug distribution platform, such as our new exports into Switzerland. Meanwhile, we continue to reduce expenses, while growing our high gross margin medical cannabis business in Europe and the rest of Latin America.  The Company continues to evaluate all strategic opportunities and financing options."

Webcast Details:

Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Corporation's Third Quarter 2022 Conference Call, followed by a Q&A session.

DATE: Wednesday, November 30, 2022
TIME: 11:00am ET
PRESENTERS: Alvaro Torres, Khiron Chief Executive Officer and Director, Helen Bellwood, Khiron Chief Financial Officer, and Franziska Katterbach, President of Khiron Europe.
FORMAT: Live 45-minute presentation & Q&A session
REGISTER LINK: https://us06web.zoom.us/webinar/register/WN_nB0mQsxmR2SgKJCnHlhL9Q

Grant of Restricted Share Units

On November 23, 2022, the Board of Directors approved the grant of 87,500 restricted share units ("RSUs") to an officer of the Corporation, upon the satisfaction of certain milestones associated with the grant. The RSUs were subject to performance-based vesting conditions that are already met and will expire on December 15, 2025.

About Khiron Life Sciences Corp.

Khiron is a global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, UK, Peru, Switzerland, and Brazil. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.khiron.ca

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

Non-IFRS Financial Measures 

[NTD: Khiron to review and confirm the below disclosure regarding non-IFRS financial measures, which has been taken from the Q2 2022 earnings release.  Note that we included "Gross Profit", as it was previously disclosed as a non-IFRS financial measure in Q2 2022, but please confirm and review and include the disclosure below as necessary for all non-IFRS financial measures included.]

This press release includes references to "Adjusted EBITDA" and "Gross Profit", which are financial measure that does not have a standardized meaning prescribed by IFRS. Investors are cautioned that non-IFRS financial measures should not be considered in isolation or construed as an alternative to the measurements of performance calculated in accordance with IFRS, because given the non-standardized meaning of non-IFRS financial measures, they may not be comparable to similar measures presented by other issuers.

Adjusted EBITDA

Adjusted EBITDA is calculated as reported under IFRS and adding back share-based compensation expense, transaction fees, unrealized gain on changes in fair value of biological assets, interest, depreciation, amortization, impairments, unrealized gain or loss in warrants, and non-recurring items. Adjusted EBITDA provides an indication of the results generated by the Corporation's principal business activities prior to how these activities and assets are financed (including mark-to-market movements of the warrant value), depreciated and amortized or how the results are taxed in various jurisdictions, impairment of property, plant, and equipment, impairment of intangible assets, changes in fair value of inventory, unrealized changes in fair value of biological assets, prior to the effect of foreign exchange, other income and expenses, and non-cash share-based payment expense. The term Adjusted EBITDA does not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. The Corporation believes Adjusted EBITDA is useful for comparing results from one period to another, as Adjusted EBITDA normalizes earnings to exclude certain non-operating, non-cash, and extraordinary amounts. Existing Adjusted EBITDA is not necessarily predictive of the Corporation's future performance or the Adjusted EBITDA of the Corporation as at any future date.

The following table provides a reconciliation of net loss to Adjusted EBITDA.

Gross Profit

Gross Profit is defined as revenue less cost of revenue, changes in fair value of inventory sold, and unrealized gain (loss) on changes in fair value of biological assets. Management believes that Gross Profit is a useful supplemental measure of operations and is used by management to analyze overall and segmented operating performance. Gross Profit is not intended to represent an alternative to net earnings or other measures of financial performance calculated in accordance with IFRS.

The following table provides a reconciliation of revenues to Gross Profit.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release include, without limitation, statements pertaining to the Corporation's business plans and goals, including its goal of achieving profitability in the near future, and improving revenue collections, reducing cash outflows, and leveraging the Corporation's assets to generate more working capital. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, and the Corporation's ability to continue its growth and reduce costs.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: risks relating to general economic conditions and capital markets; risks relating to the availability of financing on satisfactory terms; risks relating to the COVID-19 pandemic or other health crises; risks relating to regulatory, legislative, competitive and political conditions; business integration risks; as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Corporation, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Khiron Life Sciences Corp.

Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Company's Third Quarter 2022 Conference Call, followed by a Q&A session.

DATE: Wednesday, November 30, 2022
TIME: 11:00am ET
PRESENTERS: Alvaro Torres, Khiron Chief Executive Officer and Director, Helen Bellwood, Khiron Chief Financial Officer, and Franziska Katterbach, President of Khiron Europe.
FORMAT: Live 45 minute presentation & Q&A session
REGISTER LINK: https://us06web.zoom.us/webinar/register/WN_nB0mQsxmR2SgKJCnHlhL9Q

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, UK, Peru, and Brazil and is positioned to commence sales in Mexico. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.khiron.ca

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Khiron Life Sciences Corp.

• Switzerland: Khiron enters the Swiss medical cannabis market with the first sales of two of its new flower products, namely the KHIRON Gelato 19/1 and the first THC:CBD balanced flower product KHIRON Caramel 5/7
• UK: Marking the 1^st year anniversary of Zerenia™ Clinics UK, Khiron also initiated sales of three new exclusive products in the UK, consolidating a strong portfolio and improving selection for patients and prescribers
• Germany: After obtaining import approvals from German regulators, Khiron will start selling a total of seven medical cannabis SKU's in the upcoming weeks

TORONTO, Nov. 16, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), announces its market entry into Switzerland with initial sales of new products and increases its product offerings in Germany and UK.

In August 2022, Khiron completed the acquisition of its EU GMP-certified manufacturer and wholesaler, Pharmadrug GmbH in Germany. Since then, the Company has obtained import and export permits across Germany and the UK bringing to market its new product offerings, as well as looking for opportunities to expand its presence in other European markets.

The Alpine Republic of Switzerland has become the next market for Khiron, with Khiron's established reputation in Germany helping to pave the way. The start of the expansion is marked by the availability of the flower products KHIRON Gelato 19/1 and KHIRON Caramel 5/7, which are already very popular amongst patients and prescribers in our established markets.

Recently, a survey was conducted among all patients of Zerenia™ Clinics UK, with 100% of respondents stating that they are satisfied that their quality of life has improved since starting treatment. This service experience for patients is complemented by Khiron's steadily growing product portfolio, which has just recently been expanded with three additional exclusive varieties that will offer new treatment options for prescribers and patients.

Franziska Katterbach, President of Khiron Europe, comments: "Khiron continues its tradition of entering new markets early and furthering our goal of improving the lives of our patients in all our target markets. We are very excited to improve lives of patients in Switzerland as of now. I am equally pleased that our one-year anniversary of Zerenia™ Clinics UK is marked by the very good feedback from patients treated in our clinic. This reinforces our patient-first and quality first-approach which we will now bring to Switzerland as well."

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Switzerland, Peru, and Brazil. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.

Visit Khiron online at https://investors.khiron.ca.

LinkedIn: https://www.linkedin.com/company/khiron-life-sciences-corp/

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VEMTIRE EXCHANGE), ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

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SOURCE Khiron Life Sciences Corp.

"This award recognizes our efforts and achievements as a Latin American Company that radiates throughout our international footprint. Khiron Life Sciences is a first mover in developing a global path for medical cannabis in the region, and we are pursuing this approach worldwide. By providing access to medical cannabis for doctors, pharmacists, insurers, and patients, we have created a true end-to-end solution for the medical cannabis industry", commented Alvaro Torres, CEO and Director of Khiron Life Sciences.

Khiron has developed a proven international access business model with highly profitable medical cannabis sales in Colombia, the United Kingdom, Peru, Brazil, Germany and soon Mexico. The Company has been focused on expanding its first-mover advantage where its health center's physical installed capacity it's around 400,000 consults per year in Colombia and more than 20,000 additional annual consults from the recent launch of Zerenia Clinic in Brazil. By Q2 2022, Khiron had exceeded the milestone of selling its first 100,000 bottles in the Latin American region since beginning sales in 2020, maintaining its high gross margins and pricing structure, with a strong portfolio of THC and CBD medical cannabis products.

Khiron's CEO and Director, Alvaro Torres, will be participating on a panel with industry experts, entitled "International Momentum for Medical Cannabis" taking place on Tuesday, September 13, at 2:55pm CT on the Industry Stage, after announcing the acquisition of Pharmadrug GmbH, an EU-GMP & GDP certified manufacturer and distributor in Germany. Mr. Torres will also be presenting Khiron's corporate presentation on Wednesday, September 14, at 11:50am CT on the Investor Stage.

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Peru, and Brazil and is positioned to commence sales in Mexico. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.

Visit Khiron online at https://investors.khiron.ca.

Linkedin

Cautionary Statement Regarding Forward-Looking Information

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VEMTIRE EXCHANGE), ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

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SOURCE Khiron Life Sciences Corp.

• Khiron introduces new THC-dominant full-spectrum extract KHIRIOX 25/1, and non-irradiated flower varieties KHIRON Gelato 19/1 and KHIRON Caramel 5/7 in the European market
• Khiron's expanded medical product portfolio in Europe will provide a broader patient base with in-demand products

TORONTO, Sept. 1, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Europe and Latin America, announces its new medical product portfolio in Europe. The new products, which are already being promoted to prescribers, pharmacies, and patients, will be exclusively distributed through Khiron's wholly-owned Pharmadrug Production GmbH and will be available to pharmacies and patients in Germany and the UK in the coming weeks.

The THC-dominant full-spectrum extract KHIRIOX 25/1 combines the medicinal properties and areas of application of the established THC isolate formulations (dronabinol) with the specific advantages of a full spectrum extract. This new product is based on Khiron's current top selling and effective extract formulation in Latin America.

Khiron will also introduce non-irradiated flower varieties KHIRON Gelato 19/1 and KHIRON Caramel 5/7. These varieties are very popular in California among consumers and patients and are in very high demand in Europe.  

Franziska Katterbach, President of Khiron Europe, stated: "With the acquisition of Pharmadrug, Khiron is now able to completely control the value chain in Europe, and we can introduce new products that are in high demand in the European market with potential higher margins. With these new additions to our medical portfolio, Khiron Europe now covers the entire spectrum of chemotypes, therapies and routes of administration in the interest of all our European prescribers and patients. With our new medical products, we offer patients what they want and need. Especially our new flower varieties Gelato and Caramel illustrate that medicine does not have to be bitter."

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Peru, and Brazil and is positioned to commence sales in Mexico. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.

Visit Khiron online at https://investors.khiron.ca.

LinkedIn

Pharmadrug GmbH has been active worldwide for more than 30 years as a manufacturer and wholesaler of medicinal products and active pharmaceutical ingredients, as well as holding a licence to handle narcotics in Germany. Pharmadrug GmbH is EU-GMP (Good Manufacturing Practice) and EU-GDP (Good Distribution Practice) certified, fulfilling the European guidelines for the highest quality standards.

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VEMTIRE EXCHANGE), ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

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SOURCE Khiron Life Sciences Corp.

TORONTO, Aug. 29, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Corporation") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Latin America and Europe, announced today its financial results for the quarter ended June 30, 2022. These filings are available for review on the Corporation's SEDAR profile at www.sedar.com. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

• Khiron has developed a proven clinic business model with highly profitable medical cannabis sales in Colombia, United Kingdom, Peru, Brazil, and Germany.
• Recently, the Corporation has continued to add to its medical cannabis platform in Europe with the acquisition of Pharmadrug GmbH, an EU-GMP & GDP certified manufacturer and distributor in Germany. This acquisition marks a transformational inflection point for the Corporation in Europe, as it will allow Khiron direct access to: a) Dedicated pharmacy sales team with established network to the more than 18,000 pharmacies in Germany, generating proprietary data to understand evolving market preferences, b) Revenue diversification through distribution of different product portfolios, c) Ability to control last mile manufacturing steps and quality control to the point of sale, and d) Potential entry into other European markets as cannabis continues to be legalized across the region.
• In Q2 2022, the Corporation continued to deploy its unique medical cannabis clinic model in Brazil, by opening its first Zerenia clinic in the city of Rio de Janeiro. The clinic is positioned to become a global model for treatment of patients with medical cannabis in Brazil, serving the needs of patients and prescribers in Rio de Janeiro, generating data and evidence to complement Khiron's growing body of knowledge in the medical cannabis field.
• Total revenue for Q2 2022 was $4.5 million, up 60% year-over-year, driven by growth in the medical cannabis segment in Colombia and the United Kingdom. Medical cannabis now represents 58% of the Corporations' revenues, compared to 29% in Q2 2021.
• The decrease of 4% in total revenue for Q2 2022 compared to Q1 2022, is attributed to the reduction in medical cannabis sales in Germany while the Corporation was closing its acquisition of Pharmadrug. Having obtained all permits and approvals from the German regulators, Pharmadrug will become Khiron's principal European distribution hub for its cannabis product portfolio, starting in late Q3 2022.
• Gross profit before fair value adjustments for Q2 2022 was $2.2 million, up 5% quarter-over-quarter and 114% year-over-year, despite the lack of sale in Germany. In Q2 2022, the medical cannabis segment represented 89% of Khiron's total gross profits, compared to 70% a year ago.
• Total gross margin before fair value adjustments for Q2 2022 increased to 50%, driven by growth in the highly profitable medical cannabis segment. Gross margin in medical cannabis segment increased to 76%. Total gross margin for Khiron's Health Services segment for Q2 2022 was 13%, up from 8% in Q1 2022, due to improvements in margins in Colombia's Zerenia operations, and offset by the losses incurred in the early stages of Zerenia Clinics UK.
• In Q2 2022, the Corporation continued its cost reduction initiatives to streamline its operations. Expenses in Q2 2022 decreased by 16% to $5.5 million from Q2 2021. The expenses reduction was driven by cost savings efforts mainly in corporate governance, salaries, investor relations, offset by an increase in selling and marketing expenses in the growing UK cannabis market.
• At the end of Q2 2022, the Corporation had $40 million in total assets, with $13.7 million in property, plant and equipment, high-quality medical cannabis inventory of $8.2 million, healthy Accounts Receivables with credit-worthy clients in Colombia and Europe of $4.4 million and $0.6 million in financial debt.
• The Corporation ended Q2 2022 with net cash of $5.8 million, having spent $2.0 million on operating activities during the quarter and a total of $4.8 million in the first half of the year. This compared to operating spend of $10.4 million in first half of 2021. This is a result of actively managing the working capital cycle, improving collection times for the Corporation's accounts receivable and extending payment terms on its accounts payables.

Alvaro Torres, Khiron CEO and Director, comments, "The results of the first half of the year and Q2 2022 demonstrate that we are a disciplined company building sustainable growth, reducing costs and optimizing cashflow, able to reach profitability in the near term. During Q2 2022, we made key decisions to continue to build our global platform with the strategic acquisition of Pharmadrug in Germany, the opening of our new flagship clinic in Rio de Janeiro in Brazil, as well as our new mid-sized clinic and pharmacy in Bogota in one of the city's busiest shopping centres. These steps, coupled with the growing patient loyalty we experience across our bigger markets, will continue to drive Khiron's leadership in Latin America and Europe. This is possible because of an incredible team across many countries and continents who are committed to improving the quality of life of patients, and who continue to work very diligently to ensure we become indispensable to our patients in every market."

Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Corporation's Second Quarter 2022 Conference Call, followed by a Q&A session.

DATE: Monday, August 29th, 2022
TIME: 10:00am ET
PRESENTERS: Alvaro Torres, Khiron Chief Executive Officer and Director, Helen Bellwood, Khiron Chief Financial Officer, and Franziska Katterbach, President of Khiron Europe.
FORMAT: Live 45 minute presentation & Q&A session
REGISTER LINK: https://us06web.zoom.us/webinar/register/WN__FTApr4DQlOgncpkV1YAvw

On August 25, 2022, the Board of Directors granted a total of 2,345,000 stock options ("Options") and 650,000 restricted share units ("RSUs") to certain officers of the Corporation. Certain of the Options and RSUs are subject to performance-based vesting conditions. The Options are exercisable at a price of $0.15 per share and will expire on August 24, 2032. Unvested RSUs will expire on December 15, 2025.

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Corporation has a sales presence in Colombia, Germany, UK, Peru, and Brazil and is positioned to commence sales in Mexico. The Corporation is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.khiron.ca

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

This press release includes references to "Adjusted EBITDA" and "gross profit", which are financial measures that do not have a standardized meaning prescribed by IFRS. Investors are cautioned that non‑IFRS measures should not be considered in isolation or construed as an alternative to the measurements of performance calculated in accordance with IFRS, because given the non-standardized meaning of non-IFRS measures, they may not be comparable to similar measures presented by other issuers.

Adjusted EBITDA

Adjusted EBITDA is calculated as reported under IFRS and adding back share-based compensation expense, transaction fees, unrealized gain on changes in fair value of biological assets, interest, depreciation, amortization, impairments, unrealized gain or loss in warrants, and non-recurring items. Adjusted EBITDA provides an indication of the results generated by the Corporation's principal business activities prior to how these activities and assets are financed (including mark-to-market movements of the warrant value), depreciated and amortized or how the results are taxed in various jurisdictions, impairment of property, plant, and equipment, impairment of intangible assets, changes in fair value of inventory, unrealized changes in fair value of biological assets, prior to the effect of foreign exchange, other income and expenses, and non-cash share-based payment  expense. The term Adjusted EBITDA does not have any standardized meaning and therefore may not be comparable to similar measures presented by other issuers. The Corporation believes Adjusted EBITDA is useful for comparing results from one period to another, as Adjusted EBITDA normalizes earnings to exclude certain non-operating, non-cash, and extraordinary amounts. Existing Adjusted EBITDA is not necessarily predictive of the Corporation's future performance or the Adjusted EBITDA of the Corporation as at any future date.

The following table provides a reconciliation of net loss to Adjusted EBITDA.

Gross profit

Gross profit is defined as revenue less cost of revenue, changes in fair value of inventory sold, and unrealized gain (loss) on changes in fair value of biological assets. Management believes that gross profit is a useful supplemental measure of operations and is used by management to analyze overall and segmented operating performance. Gross profit is not intended to represent an alternative to net earnings or other measures of financial performance calculated in accordance with IFRS.

The following table provides the gross profit for the three months and six months ending on June 30, 2022:

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release include, without limitation, statements pertaining to the Corporation's business plans and goals, including its goal of achieving profitability in the near future, management's expectations regarding the synergies of acquiring Pharmdrug GmbH (including access to a dedicated pharmacy sales team and revenue diversification, manufacturing and quality control improvements and potential for entry to other European markets), expectations regarding the Corporation's Zerenia clinic becoming a global model for treatment of patients with medical cannabis, expectations that Pharmadrug will become the Corporation's European distribution hub for its cannabis portfolio and timing thereof. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, expected synergies resulting from acquisitions, and the Corporation's ability to continue its growth and reduce costs.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: risks relating to general economic conditions and capital markets; risks relating to the availability of financing on satisfactory terms; risks relating to the COVID-19 pandemic or other health crises; risks relating to regulatory, legislative, competitive and political conditions, business integration risks; as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Corporation, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Khiron Life Sciences Corp.

Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Company's Second Quarter 2022 Conference Call, followed by a Q&A session.

DATE: Monday, August 29th, 2022 
TIME: 10:00am ET 
PRESENTERS: Alvaro Torres, Khiron Chief Executive Officer and Director, Helen Bellwood, Khiron Chief Financial Officer, and Franziska Katterbach, President of Khiron Europe.
FORMAT: Live 45 minute presentation & Q&A session 
REGISTER LINK: https://us06web.zoom.us/webinar/register/WN__FTApr4DQlOgncpkV1YAvw

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, UK, Peru, and Brazil and is positioned to commence sales in Mexico. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at investors.khiron.ca

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Khiron Life Sciences Corp.

• New clinic is in the district of Ipanema in Rio de Janeiro, a city with more than 12 million people
• Expansion into Brazil follows Khiron´s proven and unique patient acquisition and retention model
• 40% of Zerenia™ patient appointments in Colombia and 95% of Zerenia™ patient appointments in the UK result in a medical cannabis prescription
• In the initial phase of the 7,000 sq. ft. clinic, Brazil's First Zerenia™ Clinic will have a total capacity of approximately 23,000 patient consults per year
• Under the leadership of Dr. Eduardo Faveret as Medical Director, the clinic will open with more than 13 doctors for both in-person and telehealth models
• Brazil is Latin America's largest addressable market, with over 210 million people

TORONTO, Aug. 9, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Latin America and Europe, is pleased to announce the opening of Brazil's first Zerenia™ clinic in Brazil, Rio de Janeiro. The clinic is located at Vinicius de Moraes 201 Ipanema, with an initial top capacity of 23,000 patient consults per year. Khiron's Zerenia™ Rio clinic will be the first of its kind in Brazil.

Zerenia™ Rio clinic provide physical consultations and telehealth services, connecting patients with medical specialists trained in the ethical, safe, and responsible prescription of cannabinoid-based medications. These medications focus on the comprehensive treatment of pathologies such as chronic pain, neurological pathologies, palliative care, rheumatology, psychiatry, geriatrics, endocrinology, gastroenterology, gynecology, otorhinolaryngology, and dermatology.

Khiron is well positioned to expand Zerenia™ clinics in Brazil following its successful introduction in July 2021 of Khiron-branded medical CBD. Dr. Eduardo Faveret, a thought leader and innovator in medical cannabis, has been appointed as Medical Director and will be leading the clinic. Dr. Faveret and the Zerenia™ Rio clinic will be supported by Khiron's strategic alliances with doctors and patient associations, including CANNAB in Salvador de Bahia, and leading medical distributors such as TAIMIN in Rio de Janeiro and Sao Paulo.

"Brazil continues to experience exponential growth in prescribing doctors and demand for medical cannabis products by patients. Zerenia^TM Rio, is positioned as a comprehensive and humanized pioneer in patient health service and prevention to improve the quality of life of Brazilian families," commented Dr. Eduardo Faveret, Medical Director for Zerenia™ Rio clinic. He continued, "We have assembled a multidisciplinary medical team that covers diverse medical cannabis specialties and treatments, which makes our Zerenia™ Rio clinic unique in Brazil." 

In the fall, Khiron is expected to launch additional THC medical cannabis products in the country, which will complement its current global portfolio.

Alvaro Torres, CEO and Director of Khiron Life Sciences, said: "Khiron has developed a unique, successful, and sustainable model with the implementation of Zerenia™ in Colombia, Perú, and the United Kingdom. Brazil is Latin America´s largest addressable market with more than 210 million people and we believe that our Zerenia^TM model will replicate the success we have experienced around the world. We have served more than 25,000 individual patients across the globe through our model, with high peer patient acquisition and retention rates. We have a fantastic team on the ground in Brazil composed of doctors, nurses, patient advocates, and administrative staff in our Zerenia™ Rio clinic that will elevate our patient-first model to new levels. Khiron's Zerenia^TM Rio clinic in Brazil will also allow us to continue to generate more patient-based evidence on the pharmacoeconomic benefits of our Khiron-branded medical cannabis products, and through this data, Khiron could eventually be able provide insurance benefits for patients as we have done in Colombia."

Khiron is a leading vertically integrated international medical cannabis corporation with core operations in Latin America and Europe. Leveraging medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific, product innovation, and cannabis operations expertise to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, United Kingdom, and Brazil and is positioned to commence sales in Mexico. The Company is led by co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at https://investors.khiron.ca.

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information and statements contained herein reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, the Company's ability to continue its growth and reduce costs. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law. 

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SOURCE Khiron Life Sciences Corp.

• The acquisition of Pharmadrug Production GmbH provides Khiron with direct access to German pharmacies and increase in gross margins for its products
  
  
• With acquisition completed, Khiron will continue sales of its current products and expand its portfolio, expecting higher gross margins and stronger market presence, with its own sales force and pharmacy network

TORONTO, Aug. 2, 2022 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), a global leader in medical cannabis throughout Europe and Latin America, announces that it has completed the acquisition of Pharmadrug Production GmbH ("Pharmadrug GmbH" or the "Target") from Pharmadrug Inc. (CSE:PHRX) (OTC: LMLLF) ("Pharmadrug"). The acquisition was previously announced on May 31, 2022, and was completed in accordance with its disclosed terms.

With the completion of the acquisition, Khiron has expanded its presence in Europe with an EU GMP-certified manufacturer and wholesaler and has gained a European manufacturing and distribution center for pharmaceuticals. The acquisition is an optimal complement for Khiron in Europe and is in-line with its economic asset-light strategy. As Khiron Europe's own wholesaler, the Target will promote and sell Khiron's products directly to German pharmacies, which enables Khiron to control the whole value chain within the country and recognize an increased gross margin.

With this acquisition, Khiron is able to accelerate the expansion of its medical product portfolio with additional exclusive flower varieties which are in demand in the market and a THC‑dominant full spectrum extract that combines the medicinal properties and areas of application of the established THC isolate formulations (dronabinol) with the specific advantages of a full-spectrum extract. Additional new products are already in the pipeline, that will comprise the entire spectrum of therapies with medical cannabis to be able to offer the right therapy for every patient, and more details will follow soon.

Franziska Katterbach, President of Khiron Europe, stated: "We are very pleased that we have now received all the necessary permits and licenses in connection with the acquisition and integration of the Target and that we can continue our growth course in Europe on an expedited pace with full control over the value chain up to the pharmacy. We are very excited to take advantage of the Target's excellent infrastructure and experienced team, which will enrich us professional and personally. After opening our ZERENIA clinic in London last year and now adding a powerful asset in Germany, our European force is complete and ready to ramp our sales in Germany. Now we expect to sell our products faster and at higher margins directly to German pharmacies, which will save distribution fees. A first signal in this direction is the imminent expansion of our medical portfolio for European patients. These are products manufactured exclusively in Europe, and our medical portfolio now covers the entire spectrum of chemotypes and forms of administration. We will provide more detailed information on our new products in a timely manner."

Pursuant to the terms of the acquisition, in consideration for the acquisition of all of the issued and outstanding shares of the Target, Khiron issued to Pharmadrug 5,500,000 common shares of the Company (at a deemed price of $0.16 per share) and an additional 468,750 common shares in connection with certain closing adjustments for a total of 5,968,750 common shares, as well as a non-interest bearing promissory note that was adjusted downward pursuant to certain closing adjustments to an aggregate principal amount of $974,137. The promissory note is payable one year from the date of issue in cash or, at Khiron's option, by the issuance of additional Khiron shares. Any issuance of Khiron shares on conversion of the promissory note will be subject to the prior approval of the TSX Venture Exchange.

A total of 5,000,000 Khiron shares issued in connection with the closing are subject to a lockup agreement, pursuant to which Pharmadrug may not transfer such shares without Khiron's consent, with a quarter of the total number of shares subject to lock-up being released every 90 days following the closing date (with all such shares being released 360 days following the closing date).

About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated international medical cannabis corporation with core operations in Latin America and Europe. Leveraging medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific, product innovation, and cannabis operations expertise to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, United Kingdom, and Brazil and is positioned to commence sales in Mexico. The Company is led by co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at https://investors.khiron.ca.

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

About Pharmadrug Production GmbH
Pharmadrug GmbH has been active worldwide for more than 30 years as a manufacturer and wholesaler of medicinal products and active pharmaceutical ingredients, as well as holding a licence to handle narcotics in Germany. Pharmadrug GmbH is EU-GMP (Good Manufacturing Practice) and EU-GDP (Good Distribution Practice) certified, fulfilling the European guidelines for the highest quality standards.

Cautionary Statement Regarding Forward-Looking Information
This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to the expected synergies of the Target to the business of the Company, and its impact on the Company's business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, expected synergies resulting from the acquisition, and assumptions regarding market opportunities in the jurisdictions in which the Company and the Target operates and where it seeks to operate.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VEMTIRE EXCHANGE), ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

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SOURCE Khiron Life Sciences Corp.

Prior to her appointment as Interim CFO, Ms. Bellwood was acting as Head of Finance for Khiron´s European operations, based in London (United Kingdom). Ms. Bellwood currently heads the Company's Finance Department in Europe since 2021 and has been working for Zerenia™ Clinics UK since its inception. Over the time, Ms. Bellwood has gained an in-depth understanding of this industry and the Company. Ms. Bellwood is a Chartered Accountant ACA (ICAEW), and has more than 24 years of experience in finance, including five years as an auditor for KPMG in the UK and has served as a senior global finance executive for various British-based CPG companies, such as Diageo PLC and Majestic Wine PLC.

Mr. Alvaro Torres, Khiron CEO and Director, commented: "On behalf of the Board of Directors and the management team, I would like to thank Swapan and RTB for their contributions to our finance team, and we welcome Helen to this new interim CFO role. Having worked closely with Helen, we have full confidence in her experience, financial leadership, and business acumen to assume this important role at Khiron, as we continue to grow our operations in Europe and Latin America. The UK has become and continues to be more significant to Khiron´s overall revenue and profitability, with more than 1 million CAD in revenue just in the first quarter of this year, and a clear path towards short-term EBITDA positivity".

Khiron is a leading vertically integrated international medical cannabis corporation with core operations in Latin America and Europe. Leveraging medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific, product innovation, and cannabis operations expertise to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, United Kingdom, and Brazil and is positioned to commence sales in Mexico. The Company is led by co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at https://investors.khiron.ca.

Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information and statements contained herein reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, the Company's ability to continue its growth and reduce costs. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE Khiron Life Sciences Corp.