Khiron Launches $12.4 Million Capital Raise at $0.45 Per Unit

Khiron Life Sciences Announces Terms of Overnight Marketed Offering

TORONTO, July 6, 2021 /CNW/ – Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF), is pleased to announce that, in connection with its previously announced overnight marketed offering, A.G.P./Alliance Global Partners (“AGP”) (the “Placement Agent” or “AGP”) has agreed to sell 27,435,000 units (“Units”) of the Company at a price of $0.45 per Unit for gross proceeds of $12,345,750 (the “Offering”). ATB Capital Markets Inc. (“ATB”) acted as co-placement agent to AGP in connection with the offering. Each Unit will consist of one common share (a “Unit Share”) and one common share purchase warrant of the Company (each common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share (“Warrant Share”) at an exercise price of $0.75 per Warrant Share at any time prior to 5:00 p.m. (Eastern Standard Time) 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 capital purposes. The proposed Offering is expected to close on or about July 8, 2021, subject to the satisfaction of customary closing conditions and the receipt of regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”).

The Offering is expected to be 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 agreed to file 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 that will cover the resale of (i) the common shares issued in the Offering; and (ii) the common shares issuable upon exercise of the Warrants.

The Prospectus Supplement and the Base Shelf Prospectus will contain important detailed ‎information about the Offering. Copies of the Prospectus Supplement, following the filing thereof, and the Base Shelf ‎Prospectus will be available on the Company’s profile on SEDAR 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 @khironlife.

Cautionary Notes

Original press release

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