KHIRON LIFE SCIENCES CORP - KHRNF STOCK NEWS

Khiron Life Sciences Corp. (TSXV: KHRN) (OTC Pink: KHRNF) announced an amended and restated share purchase agreement with 2518542 Alberta Ltd., a company controlled by Avonlea Drewry Holdings Inc., for the purchase and sale of the Company's European subsidiaries. The Purchaser will acquire the European subsidiaries for an aggregate base purchase price of $3,000,000, subject to certain closing and post-closing adjustments. The option to acquire the Company's Colombian subsidiary, Zerenia S.A.S., was removed to satisfy a condition for the approval of the Transaction by the TSX Venture Exchange. The Company also received conditional approval of the Transaction from the TSXV and approvals pursuant to the German Foreign Trade and Payments Act and the German Foreign Trade and Payments Regulation in respect of the sale and purchase of the issued and outstanding shares of Pharmadrug Production GmbH. The sale and purchase of the issued and outstanding shares of Pharmadrug is expected to occur on or before November 30, 2023.

Khiron Life Sciences Corp. has agreed to a $500,000 refundable deposit from 2518542 Alberta Ltd. for the possible sale of its European subsidiaries. The completion of the transaction is subject to negotiation and regulatory approvals.

Khiron Life Sciences Corp. has commenced the dispensing of medical cannabis prescriptions in Colombia, following the government’s approval for insurance coverage effective January 1, 2023. This initiative is implemented through Khiron's Zerenia™ clinic network, which is recognized as Colombia's leading medical cannabis clinic network. In 2022, Zerenia conducted over 130,000 consultations, a 20% increase from the previous year, with 40% of these resulting in medical cannabis prescriptions. The company aims to enhance patient access to life-changing medication and expand its footprint across Latin America and Europe.

Khiron Life Sciences Corp. (OTCQX: KHRNF) announces a significant milestone as the NHS has reimbursed the costs associated with cannabis-based treatment and clinic fees for a patient at Zerenia™ Clinics in the UK. This is the first instance of such reimbursement in the country, validating Khiron's approach to medical cannabis. The company is actively training healthcare professionals on the use of cannabis-based medicinal products (CBMPs). Additionally, Khiron will present real-world clinical evidence at the upcoming International Congress on Clinical Trials on Cannabis in London on February 15-16, 2023.

Khiron Life Sciences Corp. (KHRNF) has announced a significant contract for its wholly owned medical cannabis clinic network, Zerenia. On December 27, 2022, Zerenia signed an agreement with CAPITAL SALUD EPS, Colombia's largest public insurance company, to provide medical cannabis services fully reimbursed for over 1.2 million insured individuals. This initial treatment phase has already commenced, with Zerenia poised to cater to a substantial patient base suffering from chronic conditions. The initiative aligns with Bogota's goal of establishing itself as a medical cannabis hub in Latin America.

On January 1, 2023, the Colombian government mandated insurance coverage for plant-based medical cannabis products, including those from Khiron. This decision follows a confirmation by the Ministry of Health on December 30, 2022. As a result, every insurance provider in Colombia must cover medical cannabis prescriptions, allowing Khiron to address backlogged orders. Moreover, Khiron secured a contract with a major Bogota insurance company, enhancing their service offering to over 1.2 million individuals. This commitment positions Khiron for predictable revenues from a patient base exceeding 25,000.

Khiron Life Sciences Corp. (KHRNF) reported its Q3 2022 results, indicating a 24% revenue decline to $3.39 million compared to Q3 2021. Medical cannabis sales in Colombia suffered due to a change in government affecting insurance-covered prescriptions. However, European revenues surged 141%, driven by growth in the UK. Cash utilized in operations improved to $9.8 million. The company anticipates further growth with recent market entries in Brazil and Switzerland. Despite a net loss of $3.58 million, the company is managing expenses effectively.

Khiron Life Sciences Corp. (TSXV: KHRN, OTCQX: KHRNF) will host a Conference Call on November 30, 2022, at 11:00 a.m. ET to discuss third-quarter results for the period ending September 30, 2022. The financial results will be released prior to the call and will be accessible via the Company’s SEDAR profile at www.sedar.com. The call will feature presentations by CEO Alvaro Torres, CFO Helen Bellwood, and President of Khiron Europe, Franziska Katterbach, followed by a Q&A session.

Khiron Life Sciences Corp. announced its entry into the Swiss medical cannabis market, launching two flower products: KHIRON Gelato 19/1 and KHIRON Caramel 5/7. The company expands its product range in Germany and the UK, with sales of seven new cannabis SKUs in Germany and three exclusive products in the UK to enhance the selection for patients. Following the acquisition of Pharmadrug GmbH, Khiron has secured import approvals across Germany and the UK, further solidifying its presence in Europe.