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    KHRN   CA49374L3065

KHIRON LIFE SCIENCES CORP.

(KHRN)
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Khiron Life Sciences : Provides Year-End Corporate Update

12/23/2020 | 06:30am EDT

TORONTO, Dec. 23, 2020 /CNW/ - 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, provides a year-end corporate update on its global operations.

Colombia

  • Khiron is the first cannabis company in Colombia to ship THC products internationally
  • Colombian government extends medical health insurance coverage to THC and CBD medical cannabis products
  • Company appoints former Colombia Minister of Finance Juan Carlos Echeverry as an independent member of its Board of Directors
  • On December 9th, Khiron opens new small-format clinic in Medellin, Colombia's 2nd largest city, as part of the Company's plan to extend its medical cannabis clinics across Colombia and Latin America
  • Khiron declared a National Strategic Project by the Government of Colombia, which simplifies and accelerates administration processes for the Company's strategic initiatives
  • Doctor ZereniaTM telehealth platform attracts 25% of patients from outside of Bogota, expanding national reach
  • Patient consultations at Company owned clinics return to pre COVID-19 levels

 Peru

  • Company becomes the first private medical cannabis company to sell both THC and CBD medical cannabis products in Peru. In doing so, it also becomes the first company to ever export THC from Colombia for commercial purposes 

Europe

  • Khiron ships medical cannabis products to the UK for Project Twenty21, which now has more than 8,000 patients who have registered their interest
  • Company's medical cannabis e-learning certification completed by physicians participating in partnership with the UK's Medical Cannabis Clinicians Society

"This has been an historic year for Khiron in the advancement of our business; We are seeing patient volume in our expanding network of clinics in Colombia, our telehealth platform is attracting patients across the country, and with sales in Peru we are the first company ever to export THC product from Colombia.  The global pandemic has made 2020 challenging for the Company, and at times we have had to suspend certain clinic medical services, however, as we look to 2021 in a position of operational and financial strength, I would like to recognize the remarkable hard work, dedication and commitment of our global team," comments Alvaro Torres, Khiron CEO and Director.

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 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 KuidaTM 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.

Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/khiron-provides-year-end-corporate-update-301198033.html

SOURCE Khiron Life Sciences Corp.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 13,0 M 10,3 M 10,3 M
Net income 2021 -22,2 M -17,5 M -17,5 M
Net Debt 2021 15,0 M 11,8 M 11,8 M
P/E ratio 2021 -1,40x
Yield 2021 -
Capitalization 50,2 M 39,5 M 39,6 M
EV / Sales 2021 5,01x
EV / Sales 2022 2,23x
Nbr of Employees -
Free-Float 94,7%
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Last Close Price 0,28 CAD
Average target price 0,85 CAD
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Managers and Directors
┴lvaro F. Torres Chief Executive Officer & Director
Joel Friedman Chief Financial Officer
Chris Naprawa Chairman
Jairo Espinoza Vice President-Medical Affairs
Manuel Buendia Vice President-Operations
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