TORONTO, May 30, 2018 /CNW/ - HLS Therapeutics Inc. ("HLS"
or the "Company") (TSXV: HLS) announces that it has entered into an
automatic share purchase plan (the "ASPP") with a designated broker
in order to facilitate repurchases of the Company's common shares
("Common Shares") under its previously announced normal course
issuer bid (the "NCIB"). The ASPP has been approved by the
TSX Venture Exchange ("TSXV") and will be implemented effective
May 30, 2018.
Under the ASPP, the Company's designated broker may purchase
Common Shares under the NCIB at times when the Company would
ordinarily not be permitted to do so due to regulatory restrictions
or self-imposed blackout periods. Before entering into a
blackout period, the Company may, but is not required to, instruct
the designated broker to make purchases under the NCIB in
accordance with the terms of the ASPP. Such purchases will be
determined by the designated broker in its sole discretion based on
parameters set by the Company prior to the commencement of the
blackout period in accordance with the terms of the ASPP,
applicable securities laws and the rules and policies of the TSXV.
Outside of these blackout periods, the Company may purchase Common
Shares at its discretion under the NCIB.
The NCIB commenced on May 18,
2018. Pursuant to the NCIB, HLS may, if considered
advisable, purchase for cancellation through the facilities of the
TSXV and/or permitted alternative trading systems, from time to
time over the next 12 months, up to an aggregate of 1,371,495 of
its issued and outstanding Common Shares.
About HLS Therapeutics Inc.
HLS (TSXV: HLS) is a specialty pharmaceutical company focused on
the acquisition and commercialization of late-stage development,
commercial-stage promoted and established, branded pharmaceutical
products in the North American markets. HLS's focus is on products
targeting the central nervous system and cardiovascular therapeutic
areas. HLS's management team is comprised of seasoned
pharmaceutical executives with a strong track record of success in
these therapeutic areas and at managing products in each of these
lifecycle stages.
Forward-Looking Statements
This release includes forward-looking statements regarding HLS
and its business. Such statements are based on the current
expectations and views of future events of HLS's management. In
some cases the forward-looking statements can be identified by
words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements. Specific forward-looking
statements in this press release include statements with respect to
the Company's expectations regarding the NCIB. The forward-looking
events and circumstances discussed in this release may not occur
and could differ materially as a result of known and unknown risk
factors and uncertainties affecting HLS, including risks related to
the effectiveness of the NCIB, risks relating to the specialty
pharmaceutical industry, economic factors and other risks described
in the joint information circular of HLS and Automodular
Corporation ("AMD") dated February 5,
2018 in respect of the plan of arrangement involving HLS and
AMD which was completed on March 12,
2018, which has been filed on SEDAR and can be accessed at
www.sedar.com. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause HLS's actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Except
as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made, and
HLS undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE HLS Therapeutics Inc.