Khiron Life Sciences Announces Update to the Proposed Sale of Its European Business
Khiron Life Sciences Announces Update to the Proposed Sale of Its European Business
In consideration for the Management Services, each Subject Subsidiary has agreed to pay the Purchaser a management fee equal to the monthly net income of such Subject Subsidiary, as determined in accordance with IFRS, plus the reasonable expenses of the Purchaser in carrying out the Management Services until the completion of the Transaction (collectively, the "Manager Expenses"). Toronto, Ontario--(Newsfile Corp. - November 16, 2023) - Khiron Life Sciences Corp. (TSXV: KHRN) (OTC Pink: KHRNF) ("Khiron" or the "Company") today announced that the Company and 2518542 Alberta Ltd., a company controlled by Avonlea Drewry Holdings Inc. (the "Purchaser"), have entered into an amended and restated share purchase agreement (the "Restated Purchase Agreement") dated November 15, 2023, providing for the purchase and sale of the Company's European subsidiaries. Under the terms of the Restated Purchase Agreement, the Purchaser will continue to acquire the Company's European subsidiaries for an aggregate base purchase price of $3,000,000, subject to certain closing and post-closing adjustments (the "Transaction"), however the Purchaser will no longer enter into an option agreement that would have granted the Purchaser an irrevocable option to acquire all of the shares of the Company's Colombian subsidiary, Zerenia S.A.S. ("Zerenia Colombia"). The Purchaser's option to acquire Zerenia Colombia was removed to satisfy one of the conditions for the approval of the Transaction by the TSX Venture Exchange (the "TSXV").
安大略省多倫多--（Newsfile Corp.，2023 年 11 月 16 日）-Khiron Life Sciences Corp.（多倫多證券交易所：KHRNF）（TSXV：KHRNF）（”Khiron“或者”公司“）今天宣佈，該公司和由Avonlea Drewry Holdings Inc. 控制的2518542 Alberta Ltd.（即”購買者“)，已簽訂經修訂和重述的股票購買協議（即”重述的購買協議“) 日期爲2023年11月15日，規定購買和出售公司的歐洲子公司。根據重述收購協議的條款，買方將繼續以300萬美元的總基本收購價收購公司的歐洲子公司，但須進行某些收盤和收盤後的調整（即”交易“），但是，買方將不再簽訂期權協議，授予買方收購公司哥倫比亞子公司Zerenia S.A.S. 所有股份的不可撤銷選擇權。（”塞雷尼亞哥倫比亞“)。買方收購Zerenia Colombia的選擇權被取消，以滿足多倫多證券交易所風險交易所批准該交易的條件之一（即”TSXV“)。
The Company also announces that it has received the TSXV's conditional approval of the Transaction and approvals pursuant to the German Foreign Trade and Payments Act and the German Foreign Trade and Payments Regulation (the "Pharmadrug Regulatory Approval") in respect of the sale and purchase of the issued and outstanding shares of Pharmadrug Production GmbH ("Pharmadrug"). As the Company has received Pharmadrug Regulatory Approval, the sale and purchase of the issued and outstanding shares of Pharmadrug is expected to occur on or about November 17, 2023 (the "Closing Date"), together with the sale and transfer of all of the issued and outstanding shares of Khiron Europe GmbH ("Khiron Europe"), Zerenia Clinics Limited ("Zerenia UK"), Khiron Life Sciences UK Limited ("Khiron UK") and Khiron Life Sciences Spain SL ("Khiron Spain", and collectively with Pharmadrug, Khiron Europe, Zerenia UK and Khiron UK, the "Subject Subsidiaries", and each a "Subject Subsidiary").
該公司還宣佈，已獲得多倫多證券交易所對該交易的有條件批准，並根據該協議獲得批准 德國對外貿易和支付法 和 德國對外貿易和支付法規 （那個”藥品監管批准“) 關於出售和購買 Pharmadrug Production GmbH 的已發行和流通股份 (”藥品“)。由於公司已獲得藥品監管部門的批准，預計將在2023年11月17日左右出售和購買Pharmadrug的已發行和流通股份（”截止日期“），以及出售和轉讓Khiron Europe GmbH的所有已發行和流通股份（”凱龍歐洲“），澤雷尼亞診所有限公司（”Zerenia UK“），凱龍生命科學英國有限公司（”Khiron UK“) 和 Khiron Life Sciences 西班牙 SL (”Khiron 西班牙“，再加上 Pharmadrug、Khiron Europe、Zerenia UK 和 Khiron UK，”標的子公司“，而且每一個”主題子公司“)。
Concurrently with the signing of the Restated Purchase Agreement, the Company, the Purchaser and the Subject Subsidiaries have also entered into an amended and restated management services agreement (the "Restated Management Agreement") dated November 15, 2023, pursuant to which the Purchaser, as manager and independent contractor, will continue to facilitate and oversee the implementation of the interim operating plan for the Subject Subsidiaries during the interim period between the signing of the Restated Purchase Agreement and the Closing Date (the "Management Services").
在簽署重述的收購協議的同時，公司、買方和標的子公司還簽訂了經修訂和重述的管理服務協議（即重述的管理協議“) 日期爲2023年11月15日，根據該協議，買方作爲經理和獨立承包商，將在重述購買協議簽署至截止日期之間的過渡期內，繼續促進和監督標的子公司臨時運營計劃的實施（即”管理服務“)。
In consideration for the Management Services, each Subject Subsidiary has agreed to pay the Purchaser a management fee equal to the monthly net income of such Subject Subsidiary, as determined in accordance with IFRS, plus the reasonable expenses of the Purchaser in carrying out the Management Services until the completion of the Transaction (collectively, the "Manager Expenses").
作爲管理服務的對價，每家標的子公司都同意向買方支付管理費，該費用等於根據國際財務報告準則確定的該標的子公司的月淨收入，加上買方在交易完成之前開展管理服務的合理費用（統稱爲”經理費用“)。
The Purchaser also advanced to the Company additional growth capital in the amount of $250,000 on September 29, 2023 and $200,000 on October 26, 2023, in addition to the $1,000,000 previously advanced on July 28, 2023 (collectively, the "Subsidiary Growth Capital"), which amounts were disbursed directly to the Subject Subsidiaries in each case in accordance with the Restated Management Agreement. The Company must repay the Subsidiary Growth Capital if the Transaction is terminated before its completion.
除了先前於2023年7月28日預付的100萬美元外，買方還於2023年9月29日向公司預付了25萬美元的額外成長資本，並於2023年10月26日預付了20萬美元（統稱爲”子公司成長資本“），根據重述的管理協議，在每種情況下，這些款項均直接支付給標的子公司。如果交易在完成之前終止，則公司必須償還子公司成長資本。
The Subsidiary Growth Capital and the Manager Expenses are secured by a general security agreement over all of the Company's present and after-acquired property and share pledge agreements between the Purchaser and the Company in respect of the shares of Zerenia UK and Pharmadrug, and guaranteed by the Company until the completion of the Transaction.
子公司成長資本和經理費用由買方與公司就Zerenia UK和Pharmadrug的股份簽訂的所有現有和事後收購的財產和股份質押協議的通用擔保協議作爲擔保，並在交易完成之前由公司擔保。
The closing of the Transaction is subject to, among other things, the receipt of all necessary regulatory, corporate and board approvals including the final approval of the Transaction from the TSXV. There can be no assurance that the Transaction will be completed as proposed, or at all.
除其他外，本次交易的完成取決於獲得所有必要的監管機構、公司和董事會批准，包括多倫多證券交易所對交易的最終批准。無法保證交易會按提議完成，也無法保證根本無法保證。
A copy of the Restated Purchase Agreement is available under the Company's SEDAR+ profile at .
重述的購買協議的副本可在公司的SEDAR+個人資料下查閱，網址爲。
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商（該術語在多倫多證券交易所風險投資交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
About Khiron Life Sciences Corp.
關於凱龍生命科學公司
Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Switzerland, Peru, and Brazil. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.
Khiron是一家全球領先的醫用大麻公司，在拉丁美洲和歐洲擁有核心業務。利用全資醫療健康診所和專有的遠程醫療平台，Khiron將以患者爲導向的方法、醫生教育計劃、科學專業知識、產品創新相結合，並專注於創造渠道，以提高全球患者的處方和品牌忠誠度。該公司在哥倫比亞、德國、英國、瑞士、秘魯和巴西設有銷售辦事處。公司由其聯合創始人兼首席執行官阿爾瓦羅·託雷斯以及經驗豐富、多元化的執行團隊和董事會領導。
Contact:
Alvaro Torres
Chief Executive Officer
Tel: +57 17442064
聯繫人：
阿爾瓦羅·託雷斯
首席執行官
電話：+57 17442064
Investor Contact:
E: investors@khiron.ca
投資者聯繫人：
E: investors@khiron.ca
Media Contact:
Peter Leis, Europe Communications
E: pleis@khiron.ca
媒體聯繫人：
彼得·萊斯，《歐洲通訊》
E: pleis@khiron.ca
Cautionary Statement Regarding Forward-Looking Statements
關於的警示聲明 前瞻性陳述
This press release contains "forward-looking information" within the meaning of applicable Canadian 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 closing of the Transaction on the Closing Date; the anticipated receipt of all regulatory approvals required to complete the Transaction including the receipt of final TSXV approval; the Management Services to be performed by the Purchaser during the interim period between the signing of the Restated Purchase Agreement and the completion of the Transaction; the Manager Expenses to be paid by the respective Subject Subsidiaries to the Purchaser for the Management Services; and the repayment of the Subsidiary Growth Capital to the Purchaser in the event the Transaction is terminated before its completion.
本新聞稿包含適用的加拿大證券法所指的 “前瞻性信息”（統稱，”前瞻性信息“)。前瞻性信息通常通過使用 “尋找”、“預期”、“相信”、“計劃”、“估計”、“預期”、“可能” 和 “打算” 等詞語以及關於某一事件或結果 “可能”、“將”、“應該”、“可能” 或 “可能” 發生或實現的陳述以及其他類似的表達方式來識別。本新聞稿中的前瞻性信息包括但不限於與交易截止日完成有關的聲明；預計將收到完成交易所需的所有監管部門批准，包括獲得TSXV的最終批准；買方將在簽署重述購買協議和交易完成之間的過渡期內提供的管理服務；相應標的子公司將向買方支付的管理費用管理服務；以及如果交易在交易完成前終止，則向買方償還子公司成長資本。
The forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: the Company's failure to obtain all the required regulatory approvals, including the final TSXV approval of the Transaction; the failure of the parties to agree to any closing and post-closing purchase price adjustments; loss of key management or employees; and the Company failing to obtain the necessary funds to repay the Subsidiary Growth Capital in the event the Transaction is terminated before completion.
前瞻性信息受已知和未知的風險、不確定性和其他因素的影響，其中許多因素是管理層無法控制的，這些因素可能導致實際結果與此類前瞻性信息中表達或暗示的結果存在重大差異。此類風險和不確定性包括但不限於以下方面：公司未能獲得所有必要的監管批准，包括多倫多證券交易所對交易的最終批准；雙方未能就任何收盤和收盤後的收購價格調整達成協議；關鍵管理層或員工流失；如果交易在完成前終止，公司未能獲得必要的資金來償還子公司成長資本。
As a result of the foregoing and other risks and uncertainties, 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.
由於上述情況以及其他風險和不確定性，提醒讀者謹慎考慮這些因素和其他因素、不確定性和潛在事件，不要過分依賴前瞻性信息。此處包含的前瞻性信息是截至本新聞稿發佈之日得出的，基於管理層在發佈此類前瞻性信息之日的信念、估計、預期和意見。除非適用法律要求，否則公司沒有義務更新或修改任何前瞻性信息，無論是由於新信息、估計或觀點、未來事件或業績還是其他原因，也沒有義務解釋後續實際事件與此類前瞻性信息之間的任何重大差異。
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