Khiron Appoints Joel Friedman to Succeed Wendy Kaufman as Chief Financial Officer

Rhea-AI Summary

Khiron Life Sciences Corp. announced the appointment of Joel Friedman as CFO effective October 16, 2020, following the resignation of Wendy Kaufman, who held the position since July 2019. Friedman joined Khiron in December 2019 as Director of Finance and Treasury and is a Chartered Professional Accountant with over 10 years of experience, including roles at CannTrust Inc. and Primero Mining Corp. This leadership change is expected to support Khiron's growth in Latin America and internationally.

Positive

• Joel Friedman brings over 10 years of financial experience in the cannabis and mining industries.
• Friedman is viewed as a natural successor, ensuring continuity in financial leadership.

Negative

• The sudden resignation of Wendy Kaufman may raise concerns about leadership stability.

TORONTO, Oct. 19, 2020 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a medical cannabis leader with core operations in Latin America and Europe announced the appointment, effective October 16, of Joel Friedman as CFO following the resignation of Wendy Kaufman, the Company's CFO since July, 2019.  Ms. Kaufman is departing to return to the mining industry where she has spent the greater part of her executive career.

Since joining Khiron as Director of Finance and Treasury in December 2019, Mr. Friedman has worked closely with Ms. Kaufman and, in the view of the Audit Committee, was a natural successor to the role of CFO.  Mr. Friedman, a Chartered Professional Accountant, began his career at Deloitte.  He brings over 10 years of international financial experience, including in the cannabis and mining industries, having previously served as Vice President, Finance at CannTrust Inc., Director of Finance at Primero Mining Corp., in addition to progressively senior finance roles at Banro Corp. and Iamgold Corporation.

"On behalf of our management team and Board of Directors, I congratulate Joel on his promotion to the role of CFO.  Having worked closely with Joel for almost a year, we have full confidence in Joel's experience and financial leadership to assume this important role at Khiron as we continue to grow our operations and brands in Latin America and internationally," commented Deborah Rosati, Chair of Khiron's Audit Committee.

Alvaro Torres, Khiron's CEO  stated, "On behalf of the Board of Directors and the entire Khiron team, I would like to thank Wendy for her contributions as CFO during Khiron's critical phases of growth and commercialization, and for her excellent stewardship during the global challenges that the Company has faced over the past six months as a result of the COVID-19 pandemic. We also want to recognize Wendy for her leadership and mentorship, ensuring a smooth transition and continuity in the role of CFO to her successor, Joel. We wish Wendy the very best in her new role."

About Khiron Life Sciences Corp.

Khiron is a 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 sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Peru and has a presence in Mexico, Uruguay, UK, Spain and also in 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 investors.khiron.ca and on Instagram @khironlife.

Cautionary Notes

Forward-Looking Statements

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.

FAQ

Who is Joel Friedman in relation to Khiron Life Sciences?

Joel Friedman was appointed as CFO of Khiron Life Sciences effective October 16, 2020.

What prompted the CFO change at Khiron Life Sciences?

Wendy Kaufman resigned to return to the mining industry.

What experience does Joel Friedman bring to Khiron Life Sciences?

Friedman has over 10 years of international financial experience, including roles in cannabis and mining.

How does the CFO change impact Khiron Life Sciences?

The leadership transition is expected to support Khiron's growth strategy in Latin America and beyond.

When did the CFO change take effect for Khiron Life Sciences?

The CFO change took effect on October 16, 2020.