MONTREAL – Knight Therapeutics Inc. (TSX:GUD) (“Knight” or the “Company”), a leading pan-American (non-U.S.) pharmaceutical company, has announced the acceptance by the Toronto Stock Exchange (the “TSX”) of the Company’s Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”). Pursuant to the issuer bid, the Company proposes to purchase, from time to time over the next 12 months, if deemed advisable, up to 7,988,986 common shares of the Company, representing approximately 10% of its public float of 79,889,867 ordinary shares, as of June 30, 2022. From June 30, 2022, there were a total of 114,623,079 common shares issued and outstanding. Purchases can start on July 14, 2022 and will end on the date that purchases under the offer have been completed and July 13, 2023. The Company may purchase 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). Common Shares may be purchased for cancellation through the facilities of the TSX or 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-approved by the TSX and will be implemented on 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.whose head office is at Montreal Canadais 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. the shares trade on the TSX under the symbol GUD. For more information on 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 of their preparation, 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 incorrect. The factors and risks that could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc. Annual report and in Knight Therapeutics Inc. Annual information form for the year ended December 31, 2021 as filed 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.
Knight Therapeutics Inc.
President and CEO
Such. : 514.484.4483
Email: [email protected]
Fax : 514.481.4116
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