Khiron Life Sciences Corp. (TSXV: KHRN) (OTC Pink: KHRNF) and 2518542 Alberta Ltd., a company controlled by Avonlea Drewry Holdings Inc., have entered into an amended and restated share purchase agreement, related to the sale of Khiron's European subsidiaries.

What Happened

Under the terms of the restated purchase agreement, the purchaser will continue to acquire the company's European subsidiaries for an aggregate base purchase price of $3 million, however, the purchaser will no longer enter into an option agreement that would have granted it an option to acquire all of the shares of the company's Colombian subsidiary, Zerenia S.A.S.

That option was removed to satisfy one of the conditions for the approval of the transaction by the TSX Venture Exchange (TSXV).

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