NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
TORONTO, July 8, 2021 /CNW/ - Khiron Life Sciences Corp.
("Khiron" or the "Company") (TSXV: KHRN) (OTCQX:
KHRNF) is pleased to announce that it has closed its offering to
U.S. institutional investors of 27,435,000 units of the Company
(the "Offered Units"), at a price of $0.45 per Offered Unit, for aggregate gross
proceeds to the Company of $12,345,750, as previously announced on
July 5, 2021 and July 6, 2021 (the "Offering").
Alvaro Torres, Chief Executive
Officer and a director of Khiron, commented: "The successful
completion of this financing from U.S. institutional investors will
allow us to accelerate our penetration into Mexico and Brazil. We believe that Khiron is the category
leader in Colombia for medical
cannabis, and this financing will help us to leverage our brand and
expertise into these two additional markets, which we believe is a
significant opportunity for the Company."
Each Offered Unit was comprised of one common share and one
common share purchase warrant (each a "Warrant"), with each
Warrant entitling the holder thereof to purchase one common share
of the Company at an exercise price of $0.75 per share expiring on November 26, 2025. The Company intends to use the
net proceeds of the Offering for: (i) future acquisitions; (ii)
capital expenditures; and (iii) general corporate and working
A.G.P./Alliance Global Partners and ATB Capital Markets Inc.
(collectively, the "Placement Agents") acted as the lead
placement agent and co-placement agent, respectively, for the
The Offering was conducted on a private placement basis to
persons in the United States who
are "qualified institutional buyers", as such term is defined in
Rule 144A under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), who are also
"accredited investors", as such term is defined in Rule 501(a) of
Regulation D under the U.S. Securities Act ("Regulation
D"), and, in each case, in compliance with Rule 506(b) of
Regulation D and applicable United
States securities laws. The Company has also filed a
prospectus supplement (the "Prospectus Supplement") in
Canada to its existing Canadian
base shelf prospectus (the "Shelf Prospectus") filed with
the securities regulatory authority in each of the provinces and
territories of Canada to qualify
the common shares issued in the Offering, the Warrants and the
common shares issuable upon exercise of the Warrants. A copy
of the Prospectus Supplement and the Shelf Prospectus can be found
on the Company's SEDAR profile at www.sedar.com.
The securities offered in the Offering have not been and will
not be registered under the U.S. Securities Act or the securities
laws of any state of the United
States and may not be offered or sold absent such
registration or an applicable exemption from such registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of the Offered Units in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that jurisdiction.
The securities referenced herein have not been approved or
disapproved by any regulatory authority.
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, Brazil,
Germany and the UK, 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
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States
securities laws (collectively, "forward-looking
information"). Forward-looking information are often, but not
always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect", "likely" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking information in this press release
includes, without limitation, statements relating to the use of
proceeds of the Offering.
Developing forward-looking information involves reliance on
several assumptions and considerations of certain risks and
uncertainties, some of which are specific to Khiron and others that
apply to the industry generally.
The risk factors and uncertainties that could cause actual
results to differ materially from the anticipated results or
expectations expressed in this press release, include, without
limitation that the Company's use of proceeds of the Offering may
differ from those indicated; additional financing requirements;
adverse market conditions; and other risk factors described from
time to time in Khiron's OTC and Canadian securities filings. For
additional information about assumptions and risks and
uncertainties applicable to Khiron, please refer to Khiron's Annual
Information Form which is available on Khiron's SEDAR profile at
Readers are cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking information. The forward-looking
information contained herein is made as of the date of this press
release and is based on the beliefs, estimates, expectations and
opinions of management on the date such forward-looking information
is made. The Company undertakes no obligation to update or revise
any forward-looking information, whether as a result of new
information, estimates or opinions, future events or results or
otherwise or to explain any material difference between subsequent
actual events and such forward-looking information, except as
required by applicable law.
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.
T: +1 (647) 556-5750
Vice President, Communications
Franziska Katterbach, President
SOURCE Khiron Life Sciences Corp.