Khiron Stock Spikes After Announcing Opening Another Medical Cannabis Clinic In Colombia

Key points:

• Khiron opens its 4th Zerenia-branded medical cannabis clinic in the city of Bogota
• The new clinic, with a capacity of up to 40,000 consults per year could add 20% to the existing capacity in Colombia
• Located in Plaza Central, one of Bogota's busiest shopping centers with more than 150,000 visitors per month
• Adjacent to referral locations of 4 of the largest insurance companies in Colombia
• Continues Khiron's unique patient acquisition strategy through its Zerenia™ clinic network. In 2021, the Company sold more than 51,800 medical cannabis units in Colombia, up more than 900% from 2020

Khiron Life Sciences Corp. KHRNKHRNF(Frankfurt: A2JMZC), a vertically integrated cannabis company with core operations in Latin America and Europe,  announced the grand opening of its new medium-sized medical cannabis clinic under its Zerenia brand, in the city of Bogota in Colombia. The new clinic is strategically located in the heart of the 8 million people city in one of its busiest shopping centers, next to 4 of Colombia's largest insurance companies.

The new location, named Zerenia Americas, has an area of 4,000 sq.ft. It includes 11 consult rooms, with a maximum capacity of 40,000 annual consults, and will expand Khiron's patient capacity to more than 20% in Colombia.

"We are very excited about this new Zerenia™ format and our ability to treat more patients and create closer relationships with insurance companies in Colombia. Our Zerenia™ clinic network now has more than 13 locations in Colombia, Peru, and the UK, and we will soon open new locations worldwide. Our unique strategy has allowed us to grow medical cannabis sales by more than 900% in Colombia in 2021, increasing patient conversion and retention rates. The selection of this new location follows a deep desire to be closer to our patients and offer insurance companies better access for their patients while maintaining the service standards that are making Zerenia a leading global medical cannabis clinic network," commented Alvaro Torres, Khiron CEO, and Director.

"Now that the Colombian Government has mandated medical cannabis to be covered by all insurance companies, we believe this new location strategy will continue to drive great growth and profitability for Khiron, and will continue to allow us to improve the quality of life of more patients," added Mr. Torres.