TORONTO, September 9, 2021 / PRNewswire / – Khiron Life Sciences Corp. (“Khiron“or the”Society“) (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announces today its intention to renew its normal course issuer bid through the TSX Venture Exchange (the “TSXV“) to repurchase, for cancellation, up to 8,955,893 common shares of the Company (“Actions“), representing approximately 5% of the Company’s currently issued and outstanding shares (the”NCIBThe renewal of the NCIB remains subject to final approval by the TSXV.
The Company believes that, from time to time, the market price of its Shares does not adequately reflect the underlying value and future prospects of the Company and that, at such times, the purchase of Shares in the Company represents an appropriate use of the Company’s financial resources and will increase shareholder value. In accordance with the requirements of the TSX Venture Exchange, the public tender offer will begin three clear trading days following receipt by the Venture Exchange of documentation relating to the Company’s notice of intention to commence the tender offer. scholarship and acceptance thereof.
The tender offer will be conducted on behalf of the Company by Scotia Capital Inc. (the “BrokerThe public tender offer will be made through the TSXV, and the purchase and payment for the shares will be made in accordance with the requirements of the TSXV at the market price of the securities applicable at the time of acquisition, plus brokerage fees, if all securities purchased by the Company under the tender offer will be canceled. As of the date hereof, the Company has 179,117,068 shares outstanding.
To the knowledge of the Company, none of the directors, senior officers or insiders of the Company, nor any partner of such person, nor any partner or affiliate of the Company, currently intends to sell securities to the Company at the present time. NCIB course.
The public tender offer in the normal course of the Company’s activities for the purchase of a maximum of 5,830,615 shares expired on March 3, 2021. As part of this offer, the Company purchased for cancellation 511,500 of its outstanding shares through the TSXV, representing approximately 0.4% of its issued and outstanding shares at the time of the launch of the offer, at a weighted average price of $ 0.41 per Action for a total cost of $ 212,389.
A copy of the Company’s Notice of Intent to Begin the Tender Offer filed with the TSX Venture Exchange can be obtained free of charge by any shareholder by contacting the Company’s Chief Financial Officer, Joel friedman.
About Khiron Life Sciences Corp.
Khiron is a leading vertically integrated medical cannabis company with core businesses in Latin America and Europe. Leveraging wholly owned medical health centers and proprietary telemedicine platforms, Khiron combines a patient-centered approach, physician training programs, scientific expertise, product innovation and agricultural infrastructure to foster prescriptions and brand loyalty to patients around the world. The Company has a commercial presence in Colombia, Peru, Germany, United Kingdom and Brazil and is well positioned to start sales in Mexico in 2021. The Company is managed by the Co-founder and Chief Executive Officer, Allvaro Torres, with an experienced and diverse management team and board of directors.
Visit Khiron online at investors.khiron.ca and on Instagram @khironlife.
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. All information contained in this document that is not historical in nature may constitute forward-looking information. In particular, this press release includes forward-looking information relating to Khiron’s intention to purchase shares in accordance with the normal course buyback offer, the number of shares to be purchased, the timing of these purchases and the impact of those purchases on the value of the remaining Shares. Actual results, events or developments could differ materially from those expressed or implied by these forward-looking statements. There can be no assurance that any of the events or expectations will or will occur. Khiron does not undertake to comment on analyzes, expectations or statements made by third parties regarding Khiron, its securities or its financial or operating results (if applicable). Although Khiron believes that the expectations reflected in the forward-looking statements in this press release are reasonable, these forward-looking statements are based on expectations, factors and assumptions regarding future events which may prove to be inaccurate and are subject to numerous considerations. risks and uncertainties. , some of which are beyond Khiron’s control, including the risk factors described 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.
United States Disclaimer
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities of United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“) or any securities law of a state and may not be offered or sold in United States or to US Persons (as that term is defined in Regulation S under the US Securities Act) unless they are registered under the US Securities Act and applicable state securities laws or a exemption from such registration is available.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this press release.
More information about the Company is available at www.khiron.ca.
SOURCE Khiron Life Sciences Corp.