LOS ANGELES, Feb. 21, 2023 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) is pleased to announce the Company has successfully completed the acquisition of Serenity Health, LLC, (“Serenity”) one of the leading ketamine clinics in Louisville, KY. The agreement with Serenity was initially announced November 30, 2022. The acquisition, completed on February 16, 2023, marks two key milestones in Irwin’s Emergence clinics growth strategy in the mental health industry. First, the acquisition is expected to be immediately accretive increasing the company’s annualized EBITDA by double digits and second, the addition of this clinic further demonstrates Irwin’s ability to attract profitable clinics as part of its goal to establishing the world’s largest network of psychedelic mental health clinics.

Klee Irwin, the CEO of Irwin Naturals, “With each clinic we bring under the Irwin Naturals Emergence umbrella, we establish our leadership in this innovative approach to mental healthcare. As the first household name to enter this space, we are advancing rapidly towards our goal of becoming the market’s first mover.”

The acquisition of Serenity Health by Irwin Naturals Emergence is a strategic move aimed at providing accessible and affordable mental healthcare to patients. This acquisition brings the total number of clinics under the Irwin Naturals Emergence umbrella which are either under a definitive agreement, the Braxia LOI or acquired to 22, including existing clinics in Florida, Vermont, New Hampshire, Iowa, and Georgia.

Irwin Naturals Emergence also recently declared their intent to acquire Braxia Scientific Corp. Braxia (“Braxia Scientific”), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960), a medical research company providing psychiatric, innovative ketamine and psilocybin treatments for mental health disorders (“Braxia LOI”). The two entities coming together will create a new market leader in multiple markets across the United States and Canada.

Transaction Terms

The total consideration will be paid in upfront and deferred consideration. Also included are contingent payments based on milestones related to expansion and profitability goals.

About Irwin Naturals

Irwin Naturals has been a household name and best-in-class nutraceutical formulator since 1994. It is now leveraging its household name to enter into the cannabis and psychedelic sectors. Irwin has operated profitably for over 28 years¹. The Company’s growing portfolio of products is available in more than 100,000 retail doors across North America, where over 100 million people know the Irwin Naturals brand.² In 2018, the Company first leveraged its brand to expand into the cannabis industry by launching hemp-based CBD products into the mass market. The Company is now leveraging its brand trust with an objective to become one of the first household names in THC-based products and the world’s largest chain of psychedelic mental health clinics. Irwin Naturals became a publicly traded company on the Canadian Securities Exchange (CSE) in August 2021. The Company’s shares began to be traded on the OTCQB Venture Market in November 2021. More information on the Company’s stock can be found via Bloomberg as well as the Wall Street Journal.

For investor-related information about the Company, please visit ir.irwinnaturals.com/

To contact the Company’s Investor Relations department, please call toll-free at (800) 883-4851 or send an email to Investors@IrwinNaturals.com.

“Klee Irwin”
________________________________
Klee Irwin
Chief Executive Officer
T: 310-306-3636
investors@irwinnaturals.com

IR Information

Press Contact

Irwin Naturals Investor Relations
Cassandra Bassanetti-Drumm
T: 310-306-3636
investors@irwinnaturals.com

Regulatory Overview

The following is a brief summary of regulatory matters concerning ketamine in the United States (“US”). Under the Controlled Substances Act (21 U.S.C. § 811) (the “CSA”), ketamine is currently a Schedule III drug as well as being listed under the associated Narcotic Control Regulations and psilocybin is currently a Schedule I drug.

Most US States have enacted Controlled Substances Acts (“State CSAs”) which regulate the possession, use, sale, distribution, and manufacture of specified drugs or categories of drugs and establish penalties for State CSA violations and form the basis for many state and
local drug laws enforcement activity. State CSAs have either adopted drug schedules identical or similar to the federal CSA schedules or, in some instances, have incorporated the federal scheduling mechanism. Among other requirements, some US States have established a prescription drug monitoring or review programs collect information about prescription and dispensing of controlled substances for the purposes of monitoring, analysis and education.

In the United States, facilities holding or administering controlled substances must be registered with the US Drug Enforcement Agency (“DEA”) to perform this activity. As such, medical professionals and/or the clinics in which they operate, as applicable, are also required to have a DEA license to obtain and administer ketamine (a “DEA License”). While ketamine is a controlled substance in the United States, it is approved for general anesthetic induction under the US Food, Drug, and Cosmetic Act. Once a drug is approved for use, physicians may prescribe that drug for uses that are not described in the product’s labeling or that differ from those tested by the manufacturer and approved by the Food and Drug Administration (the “FDA”). Licensed medical practitioners may prescribe ketamine legally in Canada or the United States where they believe it will be an effective treatment in their professional judgment.

Please see Irwin’s filing statement on its SEDAR profile for more information on the regulatory environment and regulations surrounding the US ketamine industry.

Forward-Looking Information

This news release contains certain forward-looking statements that reflect the current views and/or expectations of management of the Company with respect to performance, business and future events. Forward-looking statements can often be identified by words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, “objective,” or the negative of those words or other similar or comparable words. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements in this news release include statements related to information concerning the ability of the Company to perform the terms of the transaction referenced herein; the receipt of all necessary approvals, including regulatory approvals; expectations for other economic, market, business and competitive factors; and the Company actually entering into and doing business, and continuing to do such business in the U.S. cannabis and psychedelics markets. The potential entrance by the Company into these new business segments are in their preliminary stages and may be subject to approval from the board of directors of the Company as well as any regulatory approval, including that of the Canadian Securities Exchange. These statements are based on numerous assumptions that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: board and regulatory approval, including the approval of the Canadian Securities Exchange; Irwin being able to acquire and/or enter into business relationships to enter into these new markets; the Company obtaining the required licenses; and changes to regulations and laws regarding cannabis or psychedelics; binding agreements that formalize the terms of the non-binding letter of intent described in the Braxia press release.. Further information on the regulatory environment and risks will be contained in future disclosures. Forward-looking statements are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from that which are expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the CSE nor its Market Regulator (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Irwin Naturals Inc.

¹ Under several corporate structures, Klee Irwin has operated the Irwin brand profitably since 1994, as measured by EBITDA adjusted for extraordinary costs.
² Consumer brand recognition information is based on a Company survey with a sample size of 500 randomly selected adults.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

• Zerenia Clinics UK is a specialist medical cannabis clinic in London and another strategic approach by Khiron to improve access to medical cannabis for patients in the UK
• Hybrid clinic model: Zerenia Clinics UK is a digital clinic (www.zereniaclinic.co.uk) and will also offer in-person appointments with medical cannabis specialist practitioners
• The new Zerenia location in UK brings Khiron’s total global clinic count to 15 throughout Latin America and Europe and underscores its proven patient-centered approach
• The implementation of the Company’s clinic strategy will strengthen Khiron’s European sales, which now account for 30% of the Company’s total medical cannabis revenues for Q3 2021

TORONTO, Nov. 3, 2021 /CNW/ – Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF)(Frankfurt:A2JMZC), a vertically integrated medical cannabis leader with core operations in Latin America and Europe, is pleased to announce the opening of Zerenia Clinics UK in London as its first International Zerenia clinic in Europe. This collectively brings the Company’s total clinic count to 15 globally. Both virtual and in-person appointments can be made via the website www.zereniaclinic.co.uk.

Khiron in the United Kingdom
The company is pursuing a consistent approach to improve patient access to medical cannabis and to develop the market for medical cannabis treatments in the UK. The opening of Zerenia Clinics UK by an expert team is another step in this direction that expands Khiron’s presence in Europe, where medical cannabis sales have grown more than 6x since Q1 2021. Even though Germany will continue to dominate the European market for medical cannabis until at least 2024, industry consultants Prohibition Partners expect the UK medical cannabis market to show the most significant growth of any country in Europe by 2025.

Zerenia Clinics UK will build upon Khiron’s presence in the UK which started in 2019 when Khiron became a founding member and also the exclusive Latin American supplier for Project Twenty21 which offers a subsidized pricing model for patients in the program to help address barriers to access in the UK market. The Company continues to focus on medical training for healthcare professionals after receiving full Continuing Professional Development (“CPD”) accreditation for its digital educational platform, Khiron Academy, and brings its proprietary clinical data generated in LatAm to the UK.

The Zerenia Clinic model
In the initial phase of operations, Zerenia Clinics UK will focus on pain management and will then expand its therapeutic portfolio to other areas such as mental health, women´s health, neurology and oncology. Though prominently located in London’s famous Chelsea district, Zerenia Clinics UK will initially focus on supporting patients digitally (or via video-consultations) to enable streamlined access to patients across the UK, many of whom suffer from debilitating conditions. Zerenia Clinics UK follows the high-quality standards of personalised cannabinoid-based therapies and pursues precision-based medicine with the central goal to improve patient access to cannabinoid-based therapies.

In LatAm, the proven clinic model Zerenia is a patient-centered integrated care model combining traditional and complementary medicine with a focus on treatments with medical cannabis. The 14 Zerenia clinics in Colombia and Peru are known for their evidence-based treatments and highly professional applications with over 14,000 individual patients treated to date.

Franziska Katterbach, President Khiron Europe commented, “I am very excited about the opening of Zerenia Clinics UK in London with our very experienced local team. This is a great milestone for Khiron and will contribute significantly to the dynamics of developing a market for medical cannabis in the UK. From day one, it has been our goal to improve patient access to medical cannabis where suitable and also create evidence for the effectiveness and tolerability of medical cannabis; opening a UK cannabis clinic is just another logical step to serve patient’s and clinician’s needs.”

About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated international 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 agricultural infrastructure to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is positioned to commence sales in Mexico. 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 Linkedin at https://www.linkedin.com/company/khiron-life-sciences-corp/

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.

SOURCE Khiron Life Sciences Corp.

For further information: Investor Contact: Paola Ricardo, E: [email protected], T: +1 (647) 556-5750; Media Contact: Peter Leis, Europe Communications, E: [email protected]; Khiron Europe: Franziska Katterbach, President, E: [email protected]

Related Links

https://khiron.ca/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.