KHIRON LIFE SCIENCES CORP - KHRNF STOCK NEWS

Khiron Life Sciences Corp. (KHRNF) reported significant growth in medical cannabis operations. In Latin America, prescriptions surged over 40% from Q2 2021, totaling more than 35,000 units year-to-date, a 600% increase from 2020. Q3 saw 9,600 patients, a 32% rise from Q2, with 62% being returning patients. In Europe, sales accounted for 30% of total revenue, with expectations of over 80% growth in Germany and 70% in the UK. Health services have also seen recovery, with over 104,000 patient visits at Khiron clinics, surpassing 2020 figures.

Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) announced the resignation of Chief Financial Officer Joel Friedman for personal reasons, effective October 31, 2021. Swapan Kakumanu of RTB LLP has been appointed as Interim CFO. Khiron's CEO, Alvaro Torres, expressed gratitude for Friedman's contributions and leadership. Khiron operates in Latin America and Europe, focusing on medical cannabis with a presence in countries like Colombia, Peru, and Germany, and aims to expand into Mexico this year.

Khiron Life Sciences Corp. (TSXV: KHRN, OTCQB: KHRNF) announced on September 13, 2021, that it has received approval from the TSX Venture Exchange to renew its Normal Course Issuer Bid (NCIB) for repurchasing up to 8,955,853 common shares, representing approximately 5% of outstanding shares. The repurchases will start on September 14, 2021, and will continue until one year from that date or until the maximum number of shares is acquired. The previous NCIB resulted in the purchase of 511,500 shares at an average price of $0.41 each.

Khiron Life Sciences Corp. (OTCQX: KHRNF) plans to renew its normal course issuer bid (NCIB) to repurchase up to 8,955,893 common shares, approximately 5% of its outstanding shares. This initiative aims to enhance shareholder value by utilizing financial resources during periods when the share price does not reflect the company's true worth. The NCIB will be executed by Scotia Capital and is pending approval from the TSX Venture Exchange. Previously, under its expired NCIB, Khiron bought back 511,500 shares at a total cost of $212,389.

Khiron Life Sciences Corp. (OTCQX: KHRNF) announced the approval of its first registered medical cannabis products, Alixen™ 30 and Alixen™ 100, by Peru's DIGEMID. These CBD-rich products will be distributed through pharmacies and medical distributors, enhancing access for patients across Peru starting Q4 2021. Alixen™ 30 addresses anxiety and insomnia, while Alixen™ 100 targets epilepsy. The company plans to register a high-THC product in early 2022, aiming to expand its offerings in the growing medical cannabis market.

Khiron Life Sciences Corp. reported Q2 2021 revenues of $2.8 million, a 68% increase year-over-year. Medical cannabis revenues reached $825,500, marking a 47% sequential growth with a gross profit margin of 88%. The company anticipates medical cannabis to become its leading revenue stream, aiming for monthly revenues exceeding $1 million by Q1 2022. As of June 30, 2021, cash totaled $9.4 million, down from $12.5 million in Q1. Adjusted EBITDA showed a loss of $3.9 million, while net loss was $4.8 million, compared to $5.7 million the previous year.

Khiron Life Sciences Corp. will host a second quarter 2021 conference call on August 23, 2021, at 10:00 a.m. ET to discuss its financial results for the period ending June 30, 2021. Participants include CEO Alvaro Torres and other executives. The call aims to engage individual and institutional investors with a Q&A session following the presentation. Khiron operates in Latin America and Europe, focusing on medical cannabis, and will release its financial results prior to the call.

Khiron Life Sciences Corp. has appointed Dr. Eduardo Faveret as the Medical Director for Zerenia™ Brazil, marking a significant step towards expanding its medical cannabis operations in Latin America's largest market. Dr. Faveret, a pioneer in the medical cannabis field in Brazil, has treated over 3,000 patients and brings extensive expertise to Khiron. With Brazil's potential market reaching USD $1.4 billion, Khiron plans to leverage its existing marketing agreements and clinical assets to establish a strong B2C presence. This move aligns with Khiron's strategy to enhance its clinic operations in major Brazilian cities.