Khiron Life Sciences Corp. (TSXV:KHRN) entered into an agreement to acquire Pharmadrug Production GmbH from Pharmadrug Inc. (CNSX:PHRX) for CAD 1.96 million on May 30, 2022. Under the terms of the deal, An aggregate of 5.5 million Khiron Shares are expected to be issued at closing (subject to certain adjustments to account for certain payments that may be made between signing and closing, referred to as the "Closing Adjustments"), at a deemed price per Khiron Share of CAD 0.16. The promissory note will be issued at closing in the principal amount of CAD 1.1 million (subject to certain other Closing Adjustments) and will be non-interest bearing and repayable one year from the date of issue in cash or, at Khiron's option, additional Khiron Shares issued at the 10-day volume-weighted average trading price per Khiron Share on the TSX Venture Exchange at the time of issue. The transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. Closing of the transaction is expected on or before the end of July, 2022. Nils Rahlf, Tino Duttiné, Claudia Posluschny, Manuel Merling, Maren Stolting and  Tim Schaper of Norton Rose Fulbright LLP acted as legal advisors to Khiron Life Sciences Corp. Dr. Fabian Christoph of Osborne Clarke Rechtsanwälte Steuerberater Partnerschaft mit beschränkter Berufshaftung acted as legal advisor to Pharmadrug Inc. (CNSX:PHRX). Fogler's Canada LLP acted a legal advisor to Pharmadrug Inc. (CNSX:PHRX) on Canadian law.Pursuant to the terms of the acquisition, in consideration for the acquisition of all of the issued and outstanding shares of the Target, Khiron issued to Pharmadrug 5,500,000 common shares of the Company (at a deemed price of CAD 0.16 per share) and an additional 468,750 common shares in connection with certain closing adjustments for a total of 5,968,750 common shares, as well as a non-interest bearing promissory note that was adjusted downward pursuant to certain closing adjustments to an aggregate principal amount of CAD 974,137.


Khiron Life Sciences Corp. (TSXV:KHRN completed the acquisition of Pharmadrug Production GmbH from Pharmadrug Inc. (CNSX:PHRX) on August 2, 2022.