Global Cannabis Co. Trading Lower On Announcing Amended European Business Sale Deal
Portfolio Pulse from Jelena Martinovic
Khiron Life Sciences Corp. (OTC:KHRNF) has amended its agreement for the sale of its European subsidiaries, removing the option to acquire shares of its Colombian subsidiary, Zerenia S.A.S., to comply with TSX Venture Exchange conditions. The sale includes Pharmadrug Production GmbH and other entities, with regulatory approvals received and expected completion on November 17, 2023. Khiron's shares fell 11.3475% to $0.01 following the announcement.
November 17, 2023 | 5:11 pm
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NEGATIVE IMPACT
Khiron Life Sciences Corp. has amended its European business sale agreement, excluding the option to acquire Zerenia S.A.S. and received necessary regulatory approvals. The stock price dropped significantly following the news.
The amendment of the sale agreement and the removal of the option to acquire shares of Zerenia S.A.S. are significant changes to the deal structure, which may have contributed to the stock price decline. The regulatory approvals indicate progress, but the immediate market reaction was negative, likely due to uncertainty or perceived loss of potential value from the original deal terms.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100