TORONTO, May 30, 2018 /CNW/ - HLS Therapeutics Inc. ("HLS" or the "Company") (TSXV: HLS) announces that it has entered into an automatic share purchase plan (the "ASPP") with a designated broker in order to facilitate repurchases of the Company's common shares ("Common Shares") under its previously announced normal course issuer bid (the "NCIB"). The ASPP has been approved by the TSX Venture Exchange ("TSXV") and will be implemented effective May 30, 2018.
Under the ASPP, the Company's designated broker may purchase Common Shares under the NCIB at times when the Company would ordinarily not be permitted to do so due to regulatory restrictions or self-imposed blackout periods. Before entering into a blackout period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker in its sole discretion based on parameters set by the Company prior to the commencement of the blackout period in accordance with the terms of the ASPP, applicable securities laws and the rules and policies of the TSXV. Outside of these blackout periods, the Company may purchase Common Shares at its discretion under the NCIB.
The NCIB commenced on May 18, 2018. 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.
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.
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.
For further information: HLS Contact Information: Dave Mason, Investor Relations, HLS Therapeutics Inc., (416) 247-9652, [email protected]; Gilbert Godin, President and Chief Operating Officer, HLS Therapeutics Inc., (484) 232-3400 ext101, [email protected]