TORONTO, September 13, 2021 / PRNewswire / – Khiron Life Sciences Corp. (“Khiron“or the”Society“) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America, is pleased to announce that, following its September 9, 2021 press release, the Company has received final approval from the TSX Venture Exchange (the “TSXV“) to renew its normal course buyback offer to buy back, for cancellation, up to 8,955,853 ordinary shares of the Company (“Actions“), representing approximately 5% of the Company’s currently issued and outstanding shares (the”NCIB“).
The purchases under the public tender offer will begin on or around September 14, 2021 and will expire on the earliest of the following dates: (i) one year from such commencement; or (ii) the date on which the Company purchased the maximum number of Shares to be acquired under the public tender offer. The tender offer will be conducted on behalf of the Company by Scotia Capital Inc. (the âBrokerThe purchase and payment for shares will be made in accordance with the requirements of the TSX Venture Exchange at the market price of the securities applicable at the time of acquisition, plus brokerage fees, if any, charged by the broker. The actual number of Shares that may be purchased and the timing of such purchases will be determined at the discretion of management and will be effected in accordance with the requirements of the TSXV.
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.
This press release may contain certain âforward-looking informationâ and âforward-looking statementsâ 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 concerning Khiron, its titles or its financial or operational 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 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.