Khiron Life Sciences Announces Closing of $14.49 Million Bought Deal Financing Including Full Exercise of Over-Allotment Option

Nachrichtenquelle: globenewswire
26.11.2020, 14:56  |  355   |   |   

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 26, 2020 (GLOBE NEWSWIRE) -- 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 and Europe, is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units (“Units”), including the exercise in full of the over-allotment option (the “Offering”).

A total of 32,200,000 Units were sold at a price of $0.45 per Unit (the “Issue Price”) for aggregate gross proceeds of $14,490,000 (including the exercise in full of the over-allotment option). The Offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp., including ATB Capital Markets Inc. and Leede Jones Gable Inc. (together, the “Underwriters”).

Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”), and one warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.75, for a period ending five years from the date hereof.

The Company intends to use the net proceeds of the Offering to expand the Company’s operating capacity and for working capital requirements and other general corporate purposes.

The Offering, and the listing of the Warrants, is subject to TSX Venture Exchange (“TSXV”) final acceptance of requisite regulatory filings, including satisfaction of standard listing conditions for the Warrants. The Warrants are expected to commence trading on November 30, 2020 under the symbol “KHRN.WT.

In consideration for their services, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the Offering and non-transferable compensation options equal to 6.0% of the Units sold in the Offering. Each compensation option is exercisable at the Issue Price to acquire one Unit for a period of 24 months following the closing of the Offering.

About Khiron Life Sciences Corp.

Khiron is a medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution and sales, and international export of both low and high THC medical cannabis products. The Company has filled medical cannabis prescriptions in Peru and has a presence in Mexico, Uruguay, UK, Spain and also in Germany, where it is positioned to begin sales of medical cannabis.

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Khiron Life Sciences Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



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Disclaimer

Khiron Life Sciences Announces Closing of $14.49 Million Bought Deal Financing Including Full Exercise of Over-Allotment Option NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, Nov. 26, 2020 (GLOBE NEWSWIRE) - Khiron Life Sciences Corp. (“Khiron” or, the “Company”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically …

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