Mr. Alvaro Torres reports

KHIRON LIFE SCIENCES ANNOUNCES CEASE TRADE ORDER

Further to the press release dated April 17, 2023, the Ontario Securities Commission has denied the company's application for a management cease trade order in connection with its delay in filing its audited annual financial statements, management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the financial year ended Dec. 31, 2022, on or before the prescribed deadline of May 1, 2023, as a result of the change in the company's chief financial officer. The OSC does not view the company as having met all of the eligibility criteria for the MCTO set out in National Policy 12-203 (Management Cease Trade Orders), and as a result, has issued a failure-to-file cease trade order pursuant to National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions) for the failure to file the annual filings by the filing deadline. The CTO will remain in effect until the annual filings have been filed and will prohibit trading in the company's securities by any person in each jurisdiction in Canada in which the company is a reporting issuer, for so long as the CTO remains in effect.

The company's chief financial officer, 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. 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.

Please refer to the company's press release dated April 17, 2023, for additional information, including reasons for the company's anticipated delay in filing the annual filings by the filing deadline. The company will issue a further news release once the annual filings have been made. There is no assurance that the company will be able to remedy its filing default and have the CTO revoked in a timely manner or at all.

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.

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