Khiron Announces Restricted Share Unit Grants

Rhea-AI Summary

Khiron Life Sciences Corp. announced the granting of 1,140,000 restricted share units (RSUs) to certain directors and officers under its Amended and Restated RSU Plan. The grant includes 600,000 RSUs vesting in thirds over three years and 500,000 RSUs tied to performance milestones. Additional RSUs are also granted with various vesting conditions. This move highlights Khiron's commitment to align executive interests with shareholder value and enhance motivation within its leadership as it continues its operations in Latin America and Europe.

Positive

• Grant of 1,140,000 RSUs aligns executive performance with shareholder interests.
• Vesting schedule promotes long-term commitment from directors and officers.

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• None.

TORONTO, Aug. 26, 2020 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announced that it has granted a total of 1,140,000 restricted share units (RSUs) to certain directors and officers of the Company and its subsidiaries under the Company's Amended and Restated RSU Plan. 

Security	Number of shares	Grant Date	Vesting
RSUs	600,000	August 26, 2020	1/3 vest on grant date; 1/3 vest on each of the first and second anniversaries of the grant date
RSUs	500,000	August 26, 2020	A quarter on the achievement of a certain performance milestone, and every 6 months thereafter	Number of RSUs   125,000
			A quarter on the achievement of a certain performance milestone, and every 6 months thereafter	125,000
			A quarter on the achievement of a certain performance milestone, and every 6 months thereafter   A quarter on the achievement of a certain performance milestone, and every 6 months thereafter	125,000       125,000
			Total:	500,000
RSUs	40,000	August 26, 2020	1/3 vest on each of the first, second and third anniversaries of the grant date

About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America.  Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has presence in Mexico, Peru, Uruguay, Brazil, UK, Spain and Germany, where it is positioned to begin sales of medical cannabis.

Leveraging its first-mover advantage, and patient-oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with Kuida^TM now marketed in multiple jurisdictions in Latin America, the US and UK. 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 www.khiron.ca, investors.khiron.ca and on Instagram @khironlife.

Neither the TSX Venture Exchange Inc. ("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.