Khiron Announces Grants of Restricted Share Units

February 9, 2021 8:00 PM EST

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TORONTO, Feb. 9, 2021 /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, announces the award of restricted share units ("RSUs") under the Company's amended and restated restricted share unit plan approved by shareholders at the annual general and special meeting of shareholders held on September 10, 2020.

On February 8, 2021, the board of directors approved a grant of RSUs to one new and one existing director, and a new officer of the Company, in accordance with the terms of the respective agreements between the Company and each individual, as set forth below.

Name

Title/Position

Number of Shares

Vesting Schedule

Juan Carlos Echeverry

Director

425,532

RSUs will vest in thirds on each of the first, second and third anniversaries of the grant date

Deborah Rosati

Director

212,766

RSUs will vest in thirds on each of the first, second and third anniversaries of the grant date

Joel Friedman

CFO

250,000

125,000 RSUs will vest as follows:

  • 62,500 RSUs on the grant date;
  • 31,250 on May 26, 2021;
  • 31,250 on November 26, 2021

The remaining 125,000 RSUs will vest as follows:

  • 50% upon the completion of a specified performance target
  • 25% on each of the first and second 6-month anniversaries thereafter

TOTAL

888,298

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 medical cannabis provider 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 Colombia, Peru and the UK, and is positioned to commence sales of medical cannabis in Germany and Brazil in early 2021.

Leveraging wholly-owned medical 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. 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.

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SOURCE Khiron Life Sciences Corp.



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