TORONTO, May 9, 2018 /CNW/ - HLS Therapeutics Inc. ("HLS"
or the "Company") (TSXV: HLS) announces that the TSX Venture
Exchange ("TSXV") has approved the Company's Notice of Intention to
Make a Normal Course Issuer Bid ("NCIB"). Pursuant to the
NCIB, HLS may, if considered advisable, purchase for cancellation
through the facilities of the TSXV and/or permitted alternative
trading systems, from time to time over the next 12 months, up to
an aggregate of 1,371,495 of its issued and outstanding common
shares (each, a "Common Share"), being 5% of the issued and
outstanding Common Shares as of May 7,
2018.
HLS may commence purchases of Common Shares under the NCIB on
May 18, 2018 and the NCIB will remain
in effect until the earlier of: (i) May 17,
2019, (ii) the date upon which HLS acquires the maximum
number of Common Shares permitted under the NCIB, or (iii) the date
upon which HLS provides written notice of termination of the NCIB
to the TSXV. HLS may not purchase more than 2% of the issued
and outstanding Common Shares during any 30-day period, which as at
May 7, 2018 represented 548,598
Common Shares.
Purchases of Common Shares under the NCIB will be made by
Haywood Securities Inc. ("Haywood") based on the parameters
prescribed by the TSXV, the provisions of the Company's credit
agreement, applicable Canadian securities laws and the terms of the
written agreement to be entered into between Haywood and HLS at a
price per Common Share equal to the market price at the time of
acquisition. All Common Shares acquired by the Company under
the NCIB will be cancelled.
HLS believes that any purchases pursuant to the NCIB, if
considered advisable, will be in the best interests of the Company
and will be a desirable use of corporate funds.
About HLS Therapeutics Inc.
HLS (TSXV: HLS) is a specialty pharmaceutical company focused on
the acquisition and commercialization of late-stage development,
commercial-stage promoted and established, branded pharmaceutical
products in the North American markets. HLS's focus is on products
targeting the central nervous system and cardiovascular therapeutic
areas. HLS's management team is comprised of seasoned
pharmaceutical executives with a strong track record of success in
these therapeutic areas and at managing products in each of these
lifecycle stages.
Forward-Looking Statements
This release includes forward-looking statements regarding HLS
and its business. Such statements are based on the current
expectations and views of future events of HLS's management. In
some cases the forward-looking statements can be identified by
words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements. Specific forward-looking
statements in this press release include statements with respect to
the Company's expectations regarding the NCIB. The forward-looking
events and circumstances discussed in this release may not occur
and could differ materially as a result of known and unknown risk
factors and uncertainties affecting HLS, including risks related to
the effectiveness of the NCIB, risks relating to the specialty
pharmaceutical industry, economic factors and other risks described
in the joint information circular of HLS and Automodular
Corporation ("AMD") dated February 5,
2018 in respect of the plan of arrangement involving HLS and
AMD which was completed on March 12,
2018, which has been filed on SEDAR and can be accessed at
www.sedar.com. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause HLS's actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. Except
as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made, and
HLS undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE HLS Therapeutics Inc.