TORONTO, Feb. 11, 2020 /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,
announces today its intention to commence a normal course issuer
bid through the facilities of the TSX Venture Exchange (the
"TSXV") to repurchase, for cancellation, up to 5,830,615
common shares of the Company ("Shares"), representing
approximately 5% of the Company's presently issued and outstanding
Shares (the "NCIB"). The NCIB remains subject to the final
approval of the TSXV.
The Company believes that, from time to time, the market price
of its Shares does not adequately reflect the Company's underlying
value and future prospects and that, at such times, the purchase of
the Company's Shares represents an appropriate use of the Company's
financial resources and will enhance shareholder value. The
NCIB will commence three business days following the TSXV's
acceptance of the Company's Notice of Intention to commence the
NCIB.
The Company is in the process of engaging a broker for the NCIB
(the "Broker"). The NCIB will be made through the facilities
of the TSXV, and 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. All securities
purchased by the Company under the NCIB will be cancelled. As at
the date hereof, the Company has 116,612,318 Shares
outstanding.
To the Company's knowledge, none of the directors, senior
officers or insiders of the Company, or any associate of such
person, or any associate or affiliate of the Company, has any
present intention to sell any securities to the Company during the
course of the NCIB. The Company has not previously purchased for
cancellation any of its outstanding Shares.
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. is positioned to be the dominant
integrated cannabis company in Latin
America. Khiron has core operations in Latin America and is fully licensed in
Colombia for the cultivation,
production, domestic distribution, and international export of both
tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis.
The company delivers best in class regulatory compliance, has the
first approved set of CBD cosmetic products on shelf
in Colombia, and is currently facilitating testing to meet and
surpass all license requirements for commercial cannabis derived
products.
With a focused regional strategy and patient oriented
approach, the Company combines global scientific expertise,
agricultural advantages, branded product market entrance
experience and education to drive prescription and brand
loyalty to address priority medical conditions such as chronic
pain, epilepsy, depression and anxiety in the Latin American
market of over 620 million people. The Company is led by Co-founder
and Chief Executive Officer, Alvaro
Torres, together with an experienced executive team,
and a knowledgeable Board of Directors that includes former
President of Mexico, Vicente Fox.
Visit Khiron online at www.khiron.ca and on Instagram
@khironlife
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. Khiron undertakes no obligation to comment 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 statement has 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 are 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.