TORONTO, April 17,
2023 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN) (OTCQX:
KHRNF) is pleased announce that it has appointed Mr. Michael O'Connor as Chief Financial Officer of
the Company, replacing the Company's CFO, Ms. Helen Bellwood.
Mr. O'Connor brings more than 30 years of operational, corporate
finance, business development and corporate governance experience
to Khiron. In 1998, Mr. O'Connor joined Orascom Telecom in
Egypt as a founding executive,
leading all business development and M&A activities throughout
Africa, the Middle East, Europe and Asia and maintained many officer and director
positions within the organization. In 1999, the company completed
an initial public offering and listing on the London Stock Exchange
and as such, was subject to a very high standard of corporate
governance. Mr. O'Connor, as part of his ongoing duties, was an
integral part of the financing and investor relations operations of
the company. Mr. O'Connor began his career at the Economic Council
of Canada before becoming the
Director, Center for Economic and Financial Analysis at Science
Applications International Corp. (SAIC) in Washington, D.C., and San Diego, California, one of the largest
international consulting companies in the U.S.
The Company would like to thank Ms. Bellwood for her
contributions to the Company and wishes her well in her future
endeavors.
Update on Filing of Audited Annual Financial
Statements
The Company further announces that it does not anticipate being
able to file its audited annual financial statements (the
"Financial Statements"), management's discussion and
analysis ("MD&A") and related Chief Executive Officer
and Chief Financial Officer certifications (collectively with the
Financial Statements and MD&A, the "Annual Filings") for
the financial year ended December 31,
2022 on or before the prescribed deadline of May 1, 2023, as a result of the change in CFO.
The Company's new CFO, Mr. Michael
O'Connor, has begun transitioning into the role and is
working with the Company's appointed auditors to complete the
Annual Filings as soon as possible.
Accordingly, the Company has requested the issuance of a
management cease trade order under the provisions of National
Policy 12-203 – Management Cease Trade Orders ("NP
12-203") so as to permit the continued trading in the Company's
common shares other than by the Company's chief executive officer,
chief financial officer and any other persons or insiders at the
discretion of the securities regulator should the Company miss the
required filing deadline. Although the MCTO application has been
made, there is no guarantee or assurance that the MCTO will be
granted.
The Company is targeting to have the audit of the Financial
Statements completed, and the Annual Filings filed, by May 31, 2023, and in any event on or before
June 29, 2023.
The Company also confirms that it intends to satisfy the
provisions of NP 12-203 and issue bi-weekly default status reports
for so long as the Company remains in default of the financial
statements filing requirement. The Company is not subject to any
insolvency proceedings nor is there any other material information
concerning the affairs of the Company that has not been generally
disclosed.
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.
About Khiron Life Sciences Corp.
Khiron is a leading global 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 focus on
creating access to drive prescriptions and brand loyalty with
patients worldwide. The Company has a sales presence in
Colombia, Germany, the United
Kingdom, Switzerland,
Peru, and Brazil. The Company is led by its co-founder
and Chief Executive Officer, Alvaro
Torres, together with an experienced and diverse executive
team and board of directors.
For more information regarding Khiron, please
https://investors.khiron.ca.
Linkedin
https://www.linkedin.com/company/khiron-life-sciences-corp/.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States
securities laws (collectively, "forward-looking
information"). Forward-looking information are often, but not
always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect", "likely" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking information in this press release
includes, without limitation, statements relating to the timing,
review, completion and filing of the Annual Filings.
Developing forward-looking information involves reliance on
several assumptions and considerations of certain risks and
uncertainties, some of which are specific to Khiron and others that
apply to the industry generally.
The risk factors and uncertainties that could cause actual
results to differ materially from the anticipated results or
expectations expressed in this press release, include, without
limitation: that the Company may not complete its audit of the
Financial Statements and file the Annual Filings as currently
anticipated, or at all; the Company could be subjected to a general
cease trade order in the event that the Annual Filings are not
completed and filed; adverse market conditions; and other risk
factors described from time to time in Khiron's OTC and Canadian
securities filings.
Readers are cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking information. The forward-looking
information contained herein is made as of the date of this press
release and is based on the beliefs, estimates, expectations and
opinions of management on the date such forward-looking information
is made. The Company undertakes no obligation to update or revise
any forward-looking information, whether as a result of new
information, estimates or opinions, future events or results or
otherwise or to explain any material difference between subsequent
actual events and such forward-looking information, except as
required by applicable law.
SOURCE Khiron Life Sciences Corp.
