MONTREAL, July 12. 2022 (GLOBE NEWSWIRE) — Knight Therapeutics Inc. (TSX:GUD) (“Knight“or the”Company “), a leading pan-American (ex-U.S.) specialty pharmaceutical company, today announced the acceptance by the Toronto Stock Exchange (the “TSX”) of the company’s notice of intention to make an offer Normal Course Issuer Bid (“NCIB”). Pursuant to the issuer bid, the Company offers to purchase, from time to time over the next 12 months, if deemed advisable, up to to 7,988,986 common shares of the Company, or approximately 10% of its public float of 79,889,867 common shares, as of June 30, 2022. As of June 30, 2022, there were a total of 114,623,079 common shares issued July 13, 2023. The Company may repurchase up to a daily maximum of 49,251 Common Shares (equivalent to 25% of the average daily trading volume of 197,005 Common Shares, for the last six calendar months). can be purchased for cancellation by the facilities of on the TSX or through other Canadian trading systems at times and in numbers to be determined by the Company. The Company had previously sought and obtained the approval of the TSX to purchase up to 10,267,956 common shares pursuant to an issuer bid and the Company has, in the twelve months preceding this announcement, purchased these 10 267,956 common shares through the facilities of the TSX and other Canadian trading systems. at a weighted average price per share of $5.25.
Knight has also entered into an automatic stock purchase plan with a broker to facilitate purchases of its common shares under the issuer bid. Under Knight’s automatic stock purchase plan, Knight’s broker may repurchase common stock, which it would not normally be permitted to do due to regulatory restrictions or blackout periods that it is subject to. is itself imposed. Purchases will be made by Knight’s broker within the parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties’ written agreement. The automatic share purchase plan has been pre-cleared by the TSX and will be implemented effective July 14, 2022.
The Company believes that the market price of Knight Common Shares from time to time may not reflect the inherent value of the Company and purchases of Common Shares under the Offer may represent an appropriate and desirable use. Company funds. The price Knight will pay for Common Shares in open market transactions will be the market price at the time of purchase.
About Knight Therapeutics Inc..
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for Canada and Latin America. Knight’s Latin American subsidiaries operate under United Medical, Biotoscana Farma and Laboratorio LKM. Knight Therapeutics Inc. shares trade on the TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s website at www.gud-knight.com or www.sedar.com
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. believes that the assumptions on which these forward-looking statements are based are reasonable at the time they were made, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be erroneous. Factors and risks that could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.’s Annual Report and Knight Therapeutics Inc.’s Annual Information Form for the fiscal year ended December 31, 2021, as posted on www. sedar.com. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information or future events, except as required by law.