TORONTO, Sept. 13, 2021 /CNW/ - Khiron Life Sciences
Corp. ("Khiron" or the "Company") (TSXV: KHRN),
(OTCQB: KHRNF), (Frankfurt:
A2JMZC), a vertically integrated cannabis leader with core
operations in Latin America, is
pleased to announce that, further to its September 9, 2021 press release, the Company has
received final approval from the TSX Venture Exchange (the
"TSXV") to renew its normal course issuer bid to repurchase,
for cancellation, up to 8,955,853 common shares of the Company
("Shares"), representing approximately 5% of the Company's
presently issued and outstanding Shares (the "NCIB").
Purchases under the NCIB will commence on or about September 14, 2021 and will expire on the earlier
of: (i) one year from such commencement; or (ii) the date on which
the Company has purchased the maximum number of Shares to be
acquired under the NCIB. The NCIB will be conducted on behalf of
the Company by Scotia Capital Inc. (the "Broker"). The
purchase and payment for the Shares will be made in accordance with
TSXV requirements at the market price of the applicable securities
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 any such purchases will be determined at management's
discretion and will be made in accordance with the requirements of
the TSXV.
The Company's prior normal course issuer bid for the purchase of
up to 5,830,615 Shares expired on March 3,
2021. Under this bid, the Company purchased for cancellation
511,500 of its outstanding Shares through the facilities of the
TSXV, representing approximately 0.4% of its issued and outstanding
Shares at the time of commencement of the bid, at a weighted
average price of $0.41 per Share for
a total cost of $212,389.
A copy of the Company's Notice of Intention to commence the NCIB
filed with the TSXV may be obtained, by any shareholder without
charge, 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 operations in Latin
America and Europe.
Leveraging wholly-owned medical health centres and proprietary
telemedicine platforms, Khiron combines a patient-oriented
approach, physician education programs, scientific expertise,
product innovation, and agricultural infrastructure to drive
prescriptions and brand loyalty with patients worldwide. The
Company has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is positioned to commence sales in
Mexico in 2021. The Company is led
by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and
diverse executive team and Board of Directors.
Visit Khiron online at investors.khiron.ca and on Instagram
@khironlife.
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. All information contained herein
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 pursuant to the normal course issuer bid, the
number of Shares to be purchased, the timing of such purchases and
the impact of such purchases on the value of the remaining Shares.
Actual results, events or developments could be materially
different from those expressed or implied by these forward-looking
statements. There is no assurance that any of the events or
expectations will occur or be realized. Khiron undertakes no
obligation to comment on analyses, expectations or statements made
by third-parties in respect of Khiron, its securities, or financial
or operating results (as applicable). Although Khiron believes that
the expectations reflected in forward-looking statements in this
press release are reasonable, such forward-looking statements have
been based on expectations, factors and assumptions concerning
future events which may prove to be inaccurate and are subject to
numerous risks and uncertainties, certain of which are beyond
Khiron's control, including the risk factors discussed 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 news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the 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
Act") or any state securities laws and may not be offered or
sold within the United States or
to U.S. Persons (as such term is defined in Regulation S under the
U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such
registration is available.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
Further information in respect of the Company can be found at
www.khiron.ca.
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SOURCE Khiron Life Sciences Corp.