Khiron Appoints Helen Bellwood (ACA) as Interim CFO

Rhea-AI Summary

Khiron Life Sciences Corp. announced the appointment of Helen Bellwood as Interim CFO, effective immediately, replacing Swapan Kakumanu of RTB LLP. Bellwood, who has over 24 years of finance experience, previously served as Head of Finance for Khiron's European operations. Under her leadership, the company reported over 1 million CAD in revenue in Q1 2022, with a focus on achieving short-term EBITDA positivity. CEO Alvaro Torres expressed confidence in Bellwood’s ability to lead financial operations in Europe and Latin America.

Positive

• Helen Bellwood brings over 24 years of finance experience, enhancing leadership.
• Recent revenue of over 1 million CAD in Q1 indicates positive growth trajectory.
• Focus on achieving short-term EBITDA positivity demonstrates strong operational goals.

Negative

• Transition to interim CFO may create short-term uncertainty in financial leadership.

TORONTO, July 18, 2022 /PRNewswire/ - 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, today announced that Helen Bellwood (ACA) will be appointed as Interim CFO, replacing Swapan Kakumanu of RTB LLP, effective immediately.

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".

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/

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.

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 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.

FAQ

Who is the new Interim CFO of Khiron Life Sciences?

Helen Bellwood has been appointed as the Interim CFO of Khiron Life Sciences.

What was Helen Bellwood’s previous role before becoming Interim CFO?

Before her appointment, she was Head of Finance for Khiron's European operations.

What revenue did Khiron report in Q1 2022?

Khiron reported over 1 million CAD in revenue for the first quarter of 2022.

What are Khiron's financial goals after appointing Helen Bellwood?

Khiron's goals include achieving short-term EBITDA positivity as they expand in Europe and Latin America.

How does the appointment of Helen Bellwood impact Khiron's operations?

Helen's leadership is expected to strengthen financial management as Khiron grows its operations.