Khiron Stock Trading Lower On Announcing Pricing Of Marketed Offering Of Units

Khiron Life Sciences Corp. KHRNF KHRN announced the pricing of its marketed public offering. Pursuant to the offering, the company will issue units of the company at a price of CA$0.05 ($0.036) per unit. Each unit will consist of one common share of the company and one common share purchase warrant of the company, with each unit warrant being exercisable to acquire one common share at an exercise price of CA0.08 for a period of 24 months following the closing date of the offering.

The size of the offering will be determined in the context of the market. The offering will be conducted on a best efforts agency basis by Canaccord Genuity Corp., as agent and sole bookrunner.

The agent will be granted an option to purchase up to an additional 15% of the units offered at the offering price for a period of 30 days following and including the closing date of the offering. The over-allotment option may be exercised by the agent to acquire units, unit shares and/or unit warrants.

The offering is being made in each of the provinces of Canada except Québec, and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

The Offering is now expected to close on or about April 4, 2023, subject to the satisfaction of customary closing conditions and the receipt of regulatory approvals, including the approval of the TSXV. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or specific terms of the offering.

Price Action

Khiron shares were trading 13.04% lower at $0.04 per share at the time of writing Friday morning.

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