TORONTO, Nov. 19, 2020 /CNW/ - HLS Therapeutics Inc.
("HLS" or the "Company") (TSX:HLS), a specialty pharmaceutical
company focusing on central nervous system and cardiovascular
markets, announces that in connection with its previously announced
normal course issuer bid ("NCIB") to purchase up to an aggregate of
1,587,193 of its issued and outstanding common shares (each, a
"Common Share"), it has entered into an automatic share purchase
plan ("ASPP") with a designated broker, Haywood Securities Inc. The
ASPP allows for the purchase of Common Shares under the NCIB at any
time, including when HLS would ordinarily not be permitted to
purchase Common Shares due to regulatory restrictions and customary
self-imposed blackout restrictions.
The ASPP provides a set of standard instructions to the
designated broker to make purchases under the NCIB in accordance
with the limits and other terms set out in the ASPP, subject to
compliance with applicable securities laws. The ASPP has been
pre-cleared by the TSX and the NCIB will remain in effect until the
earliest of: (i) November 8, 2021,
(ii) the date upon which HLS acquires the maximum number of Common
Shares permitted under the NCIB, and (iii) the date upon which HLS
provides written notice of termination of the NCIB to the TSX.
Daily purchases pursuant to the NCIB will be limited to 13,840
Common Shares, other than purchases made pursuant to the block
purchase exception, based on the average daily trading volume for
six months ending October 30, 2020 of
55,361 Common Shares.
ABOUT HLS THERAPEUTICS INC.
Formed in 2015, 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 composed 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. For
more information, please visit: www.hlstherapeutics.com
FORWARD LOOKING INFORMATION
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, including, among others, statements with respect to
HLS's pursuit of additional product and pipeline opportunities in
certain therapeutic markets, statements regarding growth
opportunities and expectations regarding financial performance. 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 relating to the specialty pharmaceutical industry, risks
related to the regulatory approval process, economic factors and
many other factors beyond the control of HLS. 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. A discussion of the
material risks and assumptions associated with this release can be
found in the Company's Annual Information Form dated March 18, 2020 and Management's Discussion and
Analysis dated November 4, 2020, both
of which have been filed on SEDAR and can be accessed at
www.sedar.com. 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.
SOURCE HLS Therapeutics Inc.