On November 26, 2020, Khiron Life Sciences Corp. closed a bought deal short form prospectus offering of 32,200,000 units at a price of $0.45 per unit for aggregate gross proceeds of $14.49 million, which includes the exercise in full of the underwriters’ over-allotment option.
Each unit is comprised of one common share and one warrant of Khiron. Each warrant entitles the holder thereof to purchase one common share at an exercise price of $0.75 for a period of five years following the closing date.
The offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp., including ATB Capital Markets Inc. and Leede Jones Gable Inc.
Cassels acted for the underwriters with a deal team that included Nancy Choi and Florence Lau (Securities and Cannabis), Chris Norton and Tera Li Parizeau (Tax), and Chandimal Nicholas and Any Obando (Intellectual Property).