Khiron Opens New Medical Cannabis Clinic in Colombia

Rhea-AI Summary

Khiron Life Sciences has opened its 4th Zerenia-branded medical cannabis clinic in Bogota, Colombia. The new 4,000 sq.ft. facility can handle up to 40,000 consultations annually, potentially increasing patient capacity by 20%. Strategically located in Plaza Central, a busy shopping center near leading insurance companies, this expansion continues Khiron's growth strategy. In 2021, the company saw over 900% growth in medical cannabis sales in Colombia. Khiron also engaged Arrowhead for investor relations, with an initial six-month contract worth USD$50,000.

Positive

• New clinic could increase patient capacity by 20%.
• Located in a high-footfall area with over 150,000 visitors monthly.
• Sales of medical cannabis grew by over 900% in 2021 in Colombia.
• Strategic partnerships with major insurance companies enhance patient acquisition.

Negative

• None.

New 4,000 sq.ft. facility becomes 4^th medical cannabis clinic in Bogota

• Khiron opens its 4th Zerenia-branded medical cannabis clinic in the city of Bogota
• The new clinic, with a capacity of up to 40,000 consults per year could add 20% to the existing capacity in Colombia
• Located in Plaza Central, one of Bogota's busiest shopping centers with more than 150,000 visitors per month
• Adjacent to referral locations of 4 of the largest insurance companies in Colombia
• Continues Khiron's unique patient acquisition strategy through its Zerenia™ clinic network. In 2021, the Company sold more than 51,800 medical cannabis units in Colombia, up more than 900% from 2020

TORONTO, Jan. 31, 2022 /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, today announced the grand opening of its new medium-sized medical cannabis clinic under its Zerenia™ brand, in the city of Bogota in Colombia. The new clinic is strategically located in the heart of the 8 million people city in one of its busiest shopping centers, next to 4 of Colombia's largest insurance companies.

The new location, named Zerenia™ Americas, has an area of 4,000 sq.ft. It includes 11 consult rooms, with a maximum capacity of 40,000 annual consults, and will expand Khiron's patient capacity to more than 20% in Colombia.

"We are very excited about this new Zerenia™ format and our ability to treat more patients and create closer relationships with insurance companies in Colombia. Our Zerenia™ clinic network now has more than 13 locations in Colombia, Peru, and the UK, and we will soon open new locations worldwide. Our unique strategy has allowed us to grow medical cannabis sales by more than 900% in Colombia in 2021, increasing patient conversion and retention rates. The selection of this new location follows a deep desire to be closer to our patients and offer insurance companies better access for their patients while maintaining the service standards that are making Zerenia™ a leading global medical cannabis clinic network.", commented Alvaro Torres, Khiron CEO, and Director. "Now that the Colombian Government has mandated medical cannabis to be covered by all insurance companies, we believe this new location strategy will continue to drive great growth and profitability for Khiron, and will continue to allow us to improve the quality of life of more patients", added Mr. Torres.

Khiron engages Arrowhead Business and Investment Decisions, LLC to provide Investor Relations Services

The Company is also pleased to announce that it has retained Arrowhead Business and Investment Decisions, LLC ("Arrowhead") to provide investor relations services and develop its international market awareness. Arrowhead will work closely with Khiron to develop and deploy a comprehensive international investor marketing program, which will include the publication of independent analysis, investor targeting, corporate disclosure distribution, non-deal roadshows, reporting and strategic advisory. Arrowhead is a leading US-based investor relations firm which is headquartered in New York City and was established in 2008. Arrowhead advises public companies on investor relations, financial communications, and capital markets strategies. As a cross-border specialist, Arrowhead provides idea generation, insight, and corporate access to an international network of institutional and private investors. Through targeting, research and interactions, Arrowhead helps corporations and investors to evaluate opportunities, connect, exchange information, and transact.

Arrowhead will provide services for an initial committed six-month term. Cash compensation for the services will be USD$50,000. Arrowhead is not related to the Company and has no interest, directly or indirectly, in the Company or its securities. The engagement of Arrowhead remains subject to the approval of the TSX Venture Exchange.

About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated international 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 agricultural infrastructure to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, UK, 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/

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.

Investor Contact:
Paola Ricardo
E: investors@khiron.ca
T: +1 (647) 556-5750

Media Contact:
Peter Leis
Europe Communications
E: pleis@khiron.ca

Carolina Gomez
Latam Communications
E: mgomez@khiron.ca

Khiron Europe:
Franziska Katterbach, President
E: fkatterbach@khiron.ca

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SOURCE Khiron Life Sciences Corp.

FAQ

What is the significance of Khiron's new clinic opening in Bogota?

The new clinic increases Khiron's capacity to treat patients and is strategically located to enhance patient acquisition through proximity to major insurance companies.

How much could the new clinic increase Khiron's patient capacity?

The new clinic could increase Khiron's patient capacity by up to 20%.

What was the growth percentage of Khiron's medical cannabis sales in 2021?

Khiron's medical cannabis sales in Colombia grew by over 900% in 2021.

What is the financial commitment for Khiron's investor relations services?

Khiron has committed USD$50,000 to Arrowhead for investor relations services over an initial six-month term.