KHIRON LIFE SCIENCES ANNOUNCES CEASE TRADE ORDER

TORONTO, May 6, 2023 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV:KHRN.VN) (OTCQX:KHRNF) announced today that, further to its press release dated April 17, 2023, the Ontario Securities Commission (the "OSC") has denied the Company's application for a management cease trade order (the "MCTO") in connection with its delay in filing 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 (the "Filing Deadline"), as a result of the change in the Company's CFO. 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 (the "CTO") 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.