• The transformative acquisition is expected to connect Flora Growth’s Colombian-grown cannabis directly with German-based pharmaceutical and medical cannabis distribution.
• The deal establishes a foothold in Germany allowing for medical cannabis sales across 1,200+ pharmacies and the distribution of pharmaceutical products across 28 countries. The deal also provides additional upside to Flora should Germany legalize adult-use, recreational cannabis.
• Franchise Global Health (TSXV: FGH) revenues and gross profit for the nine-month period ended September 30, 2022 were C$42.0 million (~US$32.7 million) and C$2.8 million (~US$2.5 million), respectively.
• Flora Growth (NASDAQ:FLGC) reported $25.7 million in revenue and $11.5 million of gross profit for the nine-month period ended September 30, 2022.
• The all-stock acquisition of Franchise Global Health Inc. includes the indirect acquisition of its subsidiaries, Phatebo GmbH, a leading distributor of export pharmaceuticals and medical cannabis products to the European Union, and ACA Müller ADAG Pharma Vertriebs GmbH, which holds the first German medical cannabis import and distribution license, granted in 2017.

FORT LAUDERDALE, Fla. & TORONTO, December 27, 2022–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today, that, on December 23, 2022, it closed the previously disclosed acquisition of all of the issued and outstanding shares of Franchise Global Health Inc. (TSXV: FGH) (“FGH”), a multi-national operator in the medical cannabis and pharmaceutical industry, with principal operations in Germany.

“We view this acquisition as transformational as Flora pursues its strategic growth plan to lead the global market for cannabis and its derivatives,” said Luis Merchan, Chairman and CEO of Flora. “Flora has now secured a crucial footprint in an established international cannabis market, providing a unique opportunity for operational synergies and diversified growth. The acquisition adds to our distribution network, expanding our client base, and increases our ability to distribute wholesale cannabis products at scale into the European Union.”

At the end of November, Flora announced it achieved revenues of $25.7 million and gross profit of $11.5 million for the nine-month period ended September 30, 2022, representing increases of 510% and 606%, respectively, year over year. As of September 30, 2022, the Company had cash of $5.9 million. On December 13, 2022, Flora raised gross proceeds of $5.0 million through a registered direct offering, further bolstering its liquidity position.

FGH’s revenues and gross profit for the nine-month period ended September 30, 2022 were C$42.0 million (~US$32.7 million) and C$2.8 million (~US$2.5 million), respectively. FGH’s German reportable segment earned C$0.6 million (~US$0.5 million) in net income for the same period.

FGH’s German businesses operate primarily in the pharmaceutical, medical device and medicinal cannabis import and distribution markets, servicing more than 1,200 pharmacies in Germany and providing non-cannabis medical products to 28 additional countries.

The transformative deal accelerates Flora’s expansion in Europe’s largest medical cannabis market as Germany moves toward the launch of an adult-use market estimated to be worth over $1 billion¹ by 2026. The Company believes Flora and FGH’s combined wealth of knowledge and intellectual property position the Company well for the potential incoming recreational market.

“We are glad to complete this acquisition as we head into 2023. Together, we can now offer one of the world’s leading cultivators access to the burgeoning German market and establish new inroads into other markets in the European Union,” said Clifford Starke, CEO of FGH.

The medical cannabis market in Germany is valued at roughly $122 million², with growth of ~25% in 2021 compared to 2020 and a CAGR of ~55% since 2017. An estimated 150,000 German patients benefit from medical cannabis and 90% of Germany’s population of 83 million people are covered by statutory health insurance.

About the Transaction

The transaction was consummated by way of a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia), pursuant to which Flora acquired all the issued and outstanding common shares of FGH in exchange for 43,525,951 Flora common shares. The Flora common shares delivered to the former shareholders of FGH are restricted from being sold for a period of ninety (90) days following the completion of the Arrangement. Effective upon the closing of the Arrangement, Mr. Starke, formerly the CEO of FGH, and Mr. Edward Woo, formerly the COO of FGH, were appointed as members of Flora’s Board of Directors. The Arrangement was approved by the Supreme Court of British Columbia and by shareholders of FGH holding in excess of 66 2/3% of the votes cast at a meeting of FGH shareholders. For further information on the Arrangement, reference is made to Flora’s current report on Form 6-K, filed today with the Securities and Exchange Commission.

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions. Visit www.floragrowth.com or follow @floragrowthcorp on social media for more information.

About Franchise Global Health Inc.

Franchise Global Health Inc., through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally. FGH’s business objective is to develop a fully-integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical-grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements reflect Flora’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward-looking statements are subject to various risks and uncertainties, including without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies, and outlook of Flora, the successful implementation of FGH’s assets, the continued success of FGH’s German business and the cannabis market, as well as those described under the section entitled “Risk Factors” in Flora’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on May 9, 2022, as amended, as such factors may be updated from time to time in Flora’s periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov, and on Flora’s issuer profile on SEDAR at www.sedar.com. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Such factors, among other things, include: the timing and unpredictability of regulatory actions; expectations of the cannabis market; opposition to the cannabinoid industry; limited operating history and net losses; exposure to product liability; risks associated with product recalls; product viability; regulatory, legislative, legal or other developments with respect to its operations or business; product development; unfavorable publicity or consumer perception; general economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital requirements and liquidity; access to capital; the timing and amount of capital expenditures; and general market and economic conditions. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora’s filings with the SEC and the applicable Canadian securities commissions. While forward-looking statements reflect Flora’s good faith beliefs, reasonable assumptions and estimates of Flora, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Flora (or to third parties making the forward-looking statements).

^{1-Statista – Forecast sales of adult-use cannabis in Germany from 2024 to 2026, by scenario}

^{2-Statista – German Medical Market}

View source version on businesswire.com: https://www.businesswire.com/news/home/20221227005068/en/

Contacts

Investor Relations:
Sean Mansouri, CFA
[email protected]

Commercial Wholesale:
James Williams
[email protected]

Public Relations:
Cassandra Dowell
+1 (858) 221-8001
[email protected]

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.

Tom Flow Named Chief Operating Officer and Steven George Named Commercial Director

LONDON, August 24, 2022–(BUSINESS WIRE)–International medical cannabis platform company Akanda Corp. (“Akanda” or the “Company”) (NASDAQ: AKAN) today announced that it has appointed Tom Flow to the role of Chief Operating Officer of Akanda and Managing Director of Holigen, and Steven George to the role of Commercial Director, effective September 1, 2022. The Company believes that these two hires will enhance its leadership direction and boost profitability across the European medical cannabis market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220824005303/en/

The Company announced that it has appointed Tom Flow to the role of Chief Operating Officer of Akanda and Managing Director of Holigen. (Photo: Business Wire)

Mr. Flow is an accomplished global business leader with over 15 years of direct cannabis industry experience with an emphasis on facility design and operations, including multiple large scale EU GMP certified cultivation facilities. He is the co-founder of a number of cannabis companies during this time, namely MedReleaf Corp. which was subsequently sold to Aurora Cannabis (ACB-NASDAQ) in a transaction valued at C$3.2 billion, The Flowr Corporation (“Flowr”) (FLWR-TSXV) where he held executive roles including CEO, COO, President and Managing Partner, and Holigen Limited which the Company acquired from Flowr in May 2022.

Mr. George joins Akanda with extensive experience in the financial services and cannabis sectors. After beginning his career in business development roles within financial services, in 2017, he moved to Portugal to obtain his MBA and started working in the European cannabis industry the following year. In that time, he served as both Iberian Country Manager and European Alliance Manager at Tilray (TLRY-NASDAQ), where his accomplishments included Tilray receiving the first ACM (marketing approval) for a cannabis dried flower in Portugal during his tenure and managing the first medical cannabis exports out of Portugal to Europe and Israel. In July 2021, Mr. George left Tilray and started offering independent advisory services to cannabis clients across the European region.

“Adding proven and elite global cannabis executives like Tom and Steven is an important milestone for Akanda, expanding our capabilities and growing our leadership as we scale. This begins with maximising our combined 10 metric tonne (22,000 lbs) annual cultivation and processing capacity at our EU GMP certified indoor premium cultivation facility in Sintra, Portugal. And, we will also focus on commercially igniting our 180 acre GACP outdoor and greenhouse site at Aljustrel, Portugal, which has over 100 metric tonnes (220,000 lbs) of annual cultivation capacity,” said Tej Virk, Chief Executive Officer at Akanda. “These hires are illustrative of the ongoing work we’re doing to build the best team possible to engage Europe’s rapidly growing cannabis market. Tom is renowned for his operational prowess, having built and scaled indoor premium cannabis cultivation businesses in both Canada and Portugal. Steven, meanwhile, is a commercial pioneer in Europe and will help us accelerate our path to profitability. We have the in-house capability to take a leading position in the existing European medical cannabis market, with an eye to participate in the adult-use market when it opens up.”

Both Mr. Flow and Mr. George will be based in offices at Akanda’s indoor premium cultivation facility in Sintra, Portugal.

About Akanda Corp.

Akanda is an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high quality and affordable products. Akanda’s portfolio includes Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa; Holigen, a Portugal-based cultivator, manufacturer and distributor with a prized EU GMP certified indoor grow facility; and CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK. The Company’s seed-to-patient supply chain also includes partnerships with Cellen Life Sciences’ Leva Clinic, one of the first fully digital pain clinics in the UK, and other leading distributors of medical cannabis in Germany.

Connect with Akanda: Website | LinkedIn | Twitter | Instagram

View source version on businesswire.com: https://www.businesswire.com/news/home/20220824005303/en/

Contacts

Investor
Matt Chesler, CFA
FNK IR
[email protected]

Media
Imogen Saunders
Irvine Partners
[email protected]

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.

LONDON–(BUSINESS WIRE)–International medical cannabis company Akanda Corp. (“Akanda” or the “Company”) (NASDAQ: AKAN) today announced it has closed the acquisition of Holigen Limited (“Holigen”) from The Flowr Corporation (“Flowr”) (TSXV: FLWR, OTC: FLWPF), accelerating Akanda’s seed-to-patient business model in the EMEA region, improving the Company’s ability to meet growing demand for medical cannabis and positioning it for adult use markets as regulations evolve.

“Holigen provides the added superior genetics, capacity, and route-to-market Akanda needs to ensure that we capture more than our share of the rapidly emerging cannabis market across the EMEA region,” said Tej Virk, Chief Executive Officer of Akanda. “Together with Holigen, we are positioned to be a leaderin today’s medical cannabis environment and to have the ability to scale to the recreational opportunity as it unfolds. Now that the acquisition has closed, I look forward with to working with Tom Flow and his team to leverage the platforms of both companies.”

Under terms of the agreement, Akanda acquired 100% of the issued and outstanding shares of Holigen for a combination of approximately US$3.0 million in cash (C$3.75 million), 1.9 million Akanda common shares, and the assumption at RPK of approximately US$4.3 million (€4.0 million) of debt which is non-recourse to Akanda. In addition, to further align Akanda and Flowr, concurrently with the closing of the acquisition, Akanda purchased 14,285,714 Flowr common shares for aggregate gross proceeds to Flowr of approximately US$790,000 (C$1.0 million) at a price per share of C$0.07. Akanda has provided at least US$678,000 of interim funding to Holigen to support its working capital needs prior to closing.

About Akanda Corp.

Akanda is an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high quality and affordable products. Akanda’s portfolio includes Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa; Holigen, a Portugal-based cultivator, manufacturer and distributor with a prized EU GMP certified indoor grow facility; and CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK. The Company’s seed-to-patient supply chain also includes partnerships with Cellen Life Sciences’ Leva Clinic, one of the first fully digital pain clinics in the UK, and Cantourage, which operates a platform for bringing medical cannabis to Europe.

Connect with Akanda: Email | Website |LinkedIn | Twitter | Instagram

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Akanda’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Akanda’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to business strategy, product development, manufacturing plans, regulatory landscape, potential acquisitions and synergies, integration plans and sales and growth plans. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Akanda does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

JERUSALEM, ISRAEL… January 14, 2022 — The Hebrew University of Jerusalem’s (HU) Technology Transfer Company, Yissum, together with the TechforCann Europe Accelerator, announces a strategic collaboration with TechforCann, Europe’s first medical cannabis tech accelerator, to fund startups around the world.

Researchers at HU’s Multidisciplinary Center for Cannabinoid Research, (MCCR) will serve as advisory board members, mentors, and potential candidates for the startups that are accepted into the TechforCann Europe Accelerator program. The HU Medical Cannabis online curriculum will also be available to international audiences through the accelerator platform. TechforCann will have access to a pipeline of innovative research projects that will benefit from the acceleration program. The parties will collaborate on licensing or co-development of new products.

HU’s MCCR, one of the world’s few cannabis incubators, conducts breakthrough research on cannabinoids, endocannabinoids, and medical cannabis. It focuses on solutions to address cancer, pain management, inflammation and stress management, immunity, metabolism, nano drug delivery, pharmaceutical chemistry, neuroscience, plant science and genetics.

TechforCann is the first accelerator to focus on medical cannabis technologies in Europe. The accelerator identifies and nurtures early-stage IP based companies with potential for exit/IPO. The hybrid acceleration program focuses on entrepreneurs who are solving challenges across the supply chain, with a focus on healthcare and biotech, digital health, precision agriculture, and new product technologies. Established by two Israel-based female co-founders Lilac Mandeles and Yona Cymerman –the TechforCannEU accelerator program allows entrepreneurs to reach milestones faster, with less error and expense, ultimately increasing their probability of commercial success.

“One of our major objectives at MCCR is to foster collaborations between our own teams and other groups worldwide who are conducting medical cannabis research,” said HU Prof. of Pharmacology Yossi Tam, MCCR director and head of the Obesity & Metabolism Laboratory. “A key priority is a cannabis-based synthetic active pharmaceutical ingredient (API) that may change people’s lives. For example, we have recently completed pre-clinical work with a synthetic derivative of cannabinoid-acid, demonstrating its efficacy in treating obesity, and we have a lot more research in the pipeline.”

“Partnering with such important and world-breaking institutions such as Yissum and the MCCR validates our goal of supporting early-stage IP based startups from around the world who are solving challenges across the medical cannabis supply chain,” says Lilac Mandeles, CEO of TechforCann. “We are excited to nurture and promote top-tier research that is currently being conducted, as well as offer our startups access to world-leading clinicians and researchers as well as cut the time to market for these remarkable innovations.”

For more information: www.techforcanneurope.com

About Yissum

Yissum is the technology transfer company of The Hebrew University of Jerusalem (HU). Founded in 1964, it serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors, and industry. Yissum’s mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 10,875+ patents globally; licensed over 1140+ technologies and has spun out more than 191 companies. Yissum’s business partners span the globe and include companies such as Boston Scientific, Google, ICL, Intel, Johnson & Johnson, Merck, Microsoft, Novartis and more. For more information, please visit www.yissum.co.il.

About the Hebrew University of Jerusalem

The Hebrew University of Jerusalem is Israel’s leading academic and research institution. Serving 23,000 students from 80 countries, it produces a third of Israel’s civilian research and is ranked 12th worldwide in biotechnology patent filings and commercial development. Faculty and alumni of the Hebrew University have won eight Nobel Prizes and a Fields Medal since 2000. The Hebrew University has 302 academic agreements with institutions in 44 countries; 78 competitive research grants from the European Research Council (ERC) since 2007; student exchange agreements with 56 institutions in 24 countries; 90 courses for the study of some 30 languages; 177 postdoctoral researchers from 26 countries; and an annual enrollment of approximately 2,000 students from 80 countries at the Rothberg International School. For more about the Hebrew University, see http://new.huji.ac.il/en.

About American Friends of the Hebrew University

American Friends of the Hebrew University (AFHU) is a national, not-for-profit organization based in the United States. AFHU is headquartered in New York and has six regional offices working in close partnership with the Hebrew University of Jerusalem. AFHU provides supporters, Hebrew University alumni and the general public with stimulating programs and events and organizes missions to Israel. The organization’s fundraising activities support scholarly and scientific achievement at the Hebrew University, create scholarships, new facilities and assist the university’s efforts to recruit outstanding new faculty. For more information, please visit http://www.afhu.org/.

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.

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• Q3 2021 revenue increased 83% YoY to $3.5 million compared to the previous year
• Gross profit before changes in FV in Q3 2021 increased 62% sequentially to $1.7 million
• Medical cannabis revenues increased 46% sequentially to $1.2 million
• Continued strong gross margins for medical cannabis segment at 89%

TORONTO, Nov. 22, 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, today announces its financial results for the quarter ended September 30, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

Third Quarter 2021 Highlights

• Medical cannabis revenue of $1.2 million, represents 34% of total revenue
• Europe represents 31% of medical cannabis revenue
• Increased gross margin for clinic services segment of 26%, compared to 12% in Q3 2020 and 15% in Q2 2021
• Over 50% year-over-year reduction in net loss of –$3.3 million, compared to –$6.7 million in Q3 2020
• $15.4 million in cash as of September 30,2021

Summary of Key Financial Results

Key Operating Statistics

Management Commentary
“In Q3, we achieved strong results and broke revenue and profitability milestones, surpassing our first million dollars in medical cannabis revenues and gross profits. Prescription growth were driven by our patient-focused operations in Colombia and Germany. In the first 9 months of 2021, we have already exceeded 2020 medical cannabis sales by more than 600% while maintaining medical cannabis margins of over 89%. ” comments Alvaro Torres, Chief Executive Officer and Director of the Company.

Mr. Torres continues, “As expected, Europe is becoming a more significant region for Khiron, representing 31% of our medical cannabis revenue. With the opening of Zerenia^TM Clinics in the UK, we have now established an international clinic footprint that will continue to drive sustainable growth in the future. A year ago, our Company was just starting medical cannabis sales in Colombia, and now we have 15 clinics, in 5 countries, and soon in Mexico. We are very excited about our quarterly growth rate, and the growing evidence that Khiron is fulfilling its mission to improve the quality of life of our patients.”

Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Company’s Third Quarter 2021 Conference Call, followed by a Q&A session.

Conference Call Date: November 22, 2021
Time 10:00 a.m. Eastern time
Toll-free dial-in number: 1-877-270-2148
International dial-in number: 1-412-902-6510

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Khiron Investor Relations team at (647) 556-5750

A telephonic replay of the conference call will also be available after 8:00 p.m. Eastern time on the same day through November 29, 2021.

Toll-free replay number: 1-877-344-7529
International replay number: 1-412-317-0088
Canada Toll Free: 855-669-9658
Replay ID: 10162133

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/

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.

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.

Toronto, Ontario–(Newsfile Corp. – September 23, 2021) – PharmaDrug Inc. (CSE: PHRX) (OTC Pink: LMLLF) (“PharmaDrug” or the “Company“) a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, is pleased to announce that its Super Smart division is launching its own premium blend of functional mushrooms. MycoWe℞ Infinite will initially debut for sale in the United States before also being made available through Super Smart’s ecommerce platform in Europe. The first commercial lot of product has already been manufactured and the Company expects to start shipping orders mid-October.

MycoWe℞ Infinite will be positioned as a premium brand in a rapidly growing marketplace that is primarily occupied by high price, low potency functional mushroom products. Based on evolving consumer trends in the health supplements space, the Company understands that health-conscious individuals are often reluctant to take large numbers of pills, several times per day as part of their health regimen. For this reason, the Company’s initial product release has been formulated as a once a day complete 6 functional mushroom dose in one pill that does not compromise on the quantity of active ingredients. To accomplish this, high potency concentrates, prepared only from the mushroom fruit body are processed using an optimized hot water and/or hot water/alcohol extraction. Our approach compares favorably to many competing products that contain only mushroom mycelium (roots of the mushroom) which are often contaminated with the grain materials that are artificially grown on. The MycoWe℞ line only uses mushroom fruit bodies cultivated from a mushroom’s natural substrate to ensure maximum potency in every capsule.

The focus of the brand will be on product transparency and rigorously vetted research. Each MycoWe℞ package will contain a QR code that will link consumers to the corresponding Certificate of Analysis for their particular product lot as well as peer reviewed scientific literature that supports the product’s unique formulation. Information on the product can been seen by scrolling down on the homepage of the revamped U.S. site www.slimwinkel.com.

“We are extremely excited to be launching our new line of functional mushrooms,” Said Dr. Paul Van Slyke, Chief Scientific Officer of PharmaDrug. “I have personally been a mushroom forager and user for over 20 years. My desire has always been to seek products that are closest to what I can forage for myself in nature. Our ingredients and quantities will always be clearly defined on the label so that consumers can make the best, informed decisions about their health and wellness journey.”

Super Smart Update

Super Smart hired a Director of E-commerce in June and began working on an overhaul of the U.S. website in July while refining the Slim Winkel brand and message. In the meantime, the company has been building traffic, developing its social media network, and increasing its followers. The cornerstone of the revamped strategy will focus on the Slim MycoWe℞ brand but will also be augmented with researched and curated bundles from several suppliers to meet the suggested requirements of specific users. The Company has also been engaging influencers and micro influencers to champion both the Slim MycoWe℞ brand and the Slim Winkel website.

PharmaDrug’s executive team flew to The Netherlands to visit the current store in Tiel as well as several locations in both Amsterdam and Rotterdam in August. Management was able to visit over 30 stores, including several stores currently for sale. The conclusion was that the retail market is still under tremendous pressure. The cost of purchasing existing stores is prohibitive and the building of greenfield locations in a competitive environment is not economically viable, especially since the market is relatively small and not currently exhibiting any signs of significant growth.

Super Smart will continue with the European online effort and will undertake to overhaul the site and develop a strategy to reflect the distinct market within North America by adapting an e-commerce only model. In formulating this decision, management met with director of e-commerce candidates with direct European branding expertise. Future focus will be on a launch of a Slim psilocybin product for The Netherlands complemented by a functional mushroom offering in all of Europe including the Slim functional products once they are established in the United States.

About PharmaDrug Inc.

PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs. The Company owns 100% of Pharmadrug Production GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license and German EuGMP certification allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, a Dutch company building a modern adult use psychedelic retail business with an elevated and educational focus. PharmaDrug recently acquired Sairiyo Therapeutics, a biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through regulatory and research driven clinical trials.

For further information, please contact:
Daniel Cohen, Chairman and CEO
[email protected]
(647) 202-1824

Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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.

The cannabis market throughout the U.S. and North America has been notoriously successful for some time now as new innovation and the changing political stance of the industry has all helped to unify a once taboo market. With eyes set on the future, it seems as though the next stage for cannabis development is moving into the market outside of simply North America. Many businesses have stated that the next step for them is to go into the European market on cannabis which is stated to be growing with a massive amount of propensity toward the future.

Many have stated that although the cannabis market in Europe has yet to fully take off due to legalization measures, the near future could see the 500 million inhabitants of the area be able to access legal cannabis if they so choose. Until now, Canada has been viewed as one of the only successful nationwide attempts at making cannabis legal, but it appears as though several countries within Europe could be next on that list. The hopes are that this industry could potentially begin to disrupt other inebriates such as alcohol and tobacco as well as challenging the pharmaceutical industry in the future.

The CEO of Canopy Growth Corp (NYSE:CGC), one of the largest pure-play cannabis stocks in the industry has stated that England could potentially have a fully developed cannabis market within the coming five or so years. The CEO, Bruce Linton stated that “Europe is a big deal.” The company has already worked to have their presence in as many as 11 countries such as Denmark, Germany and more. The nearest market to having this and the one that so many have viewed with high promise has continued to be the German market on cannabis. Business from around 1,000 German pharmacies has created around 10 percent of the sales total for CGC.

Another example of this comes from the CEO of HEXO Corp., another big player in the cannabis space. He has stated that legal recreational cannabis could hit the U.K. in as soon as three years which means that Europe could be on the road to having legal cannabis in that time as well. The cannabis market has helped HEXO to reach as much as $1.2 billion in market cap which is quite a serious number. He stated that “Europe isn’t missing out yet. If they don’t move on this in the next two to three years, they will be.” It is extremely clear that there is a strong desire to have legal cannabis in these places as it has shown itself to be a great contributor to a variety of funds and for a myriad of purposes.

The hopes are high that Europe can begin to push the steps into play that will help to bring them into the future of cannabis legislation. Only time will tell how well they can get on the track to having legal marijuana, but for now, it seems as they cannot continue to miss out on such a great opportunity.