Receives Approval To Renew Its Normal Course Issuer Bid TORONTO, Sept. 13, 2021 /PRNewswire/ - 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.