BULLETIN V2024-0469
KHIRON LIFE SCIENCES CORP. ("KHRN") ("KHRN.WT")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement
BULLETIN DATE: February 12, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a definitive share purchase agreement dated July 28, 2023, as amended on November 15, 2023 (the "Agreement"), between the Company and an arm's length purchaser (the "Purchaser"). Pursuant to the Agreement, the Company has completed the sale of all of the issued and outstanding shares of the Company's European subsidiaries, being Khiron Europe GmbH ("Khiron Europe"), Zerenia Clinics Limited ("Zerenia UK"), PharmaDrug Production GmbH ("Pharmadrug"), Khiron Life Sciences UK Limited ("Khiron UK") and Khiron Life Sciences Spain SL ("Khiron Spain", and collectively with Khiron Europe, Zerenia UK, Pharmadrug and Khiron UK, the "Subject Subsidiaries") for an aggregate base purchase price of $3,000,000 (the "Purchase Price"). The Purchase Price was satisfied by pre-paid deposit of $500,000 and the prior advance of growth capital in an aggregate amount of $1,450,000 to the Company from the Purchaser. Pursuant to the Agreement, as a result of further adjustments made to the base purchase price for the Subject Subsidiaries' closing working capital and indebtedness, no further amount of the Purchase Price was owed upon the completion of the transaction.
For further information, refer to the Company's news releases dated June 5, 2023, July 28, 2023, November 16, 2023 and November 17, 2023.
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