Knight Increases Ownership in Crescita
MONTREAL, Canada, October 10, 2017 – Pursuant to the early warning requirements of National Instrument 62-103, Knight Therapeutics Inc. (“Knight”) announced today an increase in its ownership of Crescita Therapeutics Inc. (“Crescita”).
On October 6, 2017, Knight acquired 566,471 common shares of Crescita, representing 4.0% of the issued and outstanding common shares of Crescita, pursuant to a share transfer agreement entered into on August 31, 2016 by and between Knight and Mr. Gregory Orleski (the “Agreement”). Pursuant to the Agreement, Knight was to receive additional shares of Crescita, for no consideration, based on the market price of Crescita’s shares on August 31, 2017. Knight now owns an aggregate of 2,079,973 common shares of Crescita representing approximately 14.9% of the outstanding common shares of Crescita.
In addition, Knight holds 396,000 common share purchase warrants of Crescita, 216,000 of which are exercisable at a price of $0.75 per share and 180,000 at a price of $1.00 per share, in each case until August 14, 2023. Should Knight exercise the warrants, Knight would acquire an additional 396,000 common shares of Crescita, representing a 2.3% increase in Knight’s ownership of Crescita, after taking effect of the exercise of the warrants owned by Knight only.
The shares of Crescita acquired by Knight are held for investment purposes. Knight may in the future purchase or sell shares of Crescita or otherwise trade in securities of or engage in other transactions with respect to Crescita depending on a number of factors, including but not limited to, Crescita’s financial position, the price levels of the common shares of Crescita, conditions in the securities markets and general economic and industry conditions, Crescita’s business or financial condition, and other factors and conditions Knight deems appropriate.
For further information, a copy of the Early Warning Report to which this press release relates can be obtained from Jeffrey Kadanoff, (514) 484-4483 or on the SEDAR profile of Crescita at www.sedar.com.
“We are excited by Crescita’s potential and expect only GUD things to come from this investment,” said Jonathan Ross Goodman, CEO of Knight Therapeutics Inc.
About Crescita Therapeutics Inc.
Crescita (TSX:CTX) is a publicly traded, Canadian commercial dermatology company with a portfolio of non-prescription skincare products and prescription drug products for the treatment and care of skin conditions and diseases and their symptoms. Crescita owns multiple proprietary drug delivery platforms that support the development of patented formulations that can facilitate the delivery of active drugs into or through the skin. Crescita owns a portfolio of non-prescription skincare products and has one FDA approved prescription product, Pliaglis that is licensed globally to Galderma SA and Taro Pharmaceuticals for the U.S. market. Crescita owns the sales and marketing rights in Canada and Mexico. For additional information, please visit www.crescitatherapeutics.com.
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.gudknight.com or www.sedar.com.