MONTREAL, QUEBEC--(Marketwired - Jan. 13, 2017) - This press release is being disseminated by Knight Therapeutics Inc. ("Knight") (TSX:GUD), a specialty pharmaceutical company at the address of 3400 De Maisonneuve Blvd. W., Suite 1055, Montreal, Quebec H3Z 3B8, as required by National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues regarding the disposition of securities of Pediapharm Inc. ("Pediapharm") at the address of 1 Place du Commerce, Suite 225, Verdun, QC H3E 1A2.
Since July 16, 2016, Knight has disposed of an aggregate of 1,454,500 shares of Pediapharm (the "Shares") on the TSX Venture Exchange at an average price of $0.28 per share for total gross proceeds of $407,851. The Shares represent approximately 2% of the outstanding common shares of Pediapharm.
Prior to the disposition of the Shares, Knight owned 13,418,920 common shares of Pediapharm and 757,500 warrants (the "Warrants"), convertible into 757,500 common shares of Pediapharm, representing 19.3% of the issued and outstanding common shares of Pediapharm, assuming the exercise of the Warrants held by Knight only. Immediately after the disposition of the Shares, Knight holds 11,964,420 common shares of Pediapharm and the Warrants, representing 17.3% of the issued and outstanding common shares of Pediapharm, assuming the exercise of the Warrants held by Knight only.
Knight disposed of the Shares for investment purposes. Knight may in the future purchase or sell shares of Pediapharm or otherwise trade in securities of or engage in other transactions with respect to Pediapharm depending on a number of factors, including but not limited to, Pediapharm's financial position, the price levels of the common shares of Pediapharm, conditions in the securities markets and general economic and industry conditions, Pediapharm's business or financial condition, and other factors and conditions Knight deems appropriate.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.'s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company's web site at www.gud-knight.com or www.sedar.com.
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2015. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.