1178991 Canada Inc. announced tender offer to acquire remaining 48.8% stake in Biotoscana Investments S.A. (BOVESPA:GBIO33) for approximately BRL 450 million on December 20, 2019. Under the terms, shareholder of Biotoscana will have choice to elect from BRL 8.77 per share in cash and BRL 2.19 per share in escrow or BRL 10.15 per share in cash. Transaction will be funded from cash in hand. Transaction will delist Biotoscana from B3 S.A.. Transaction is subject to approval by B3 S.A., and approval by shareholders of Biotoscana or more than 2/3 shareholders tendering their shares. As of July 8, 2020, the transaction was approved by Brazilian Securities and Exchange Commission. The tender offer will commence on July 20, 2020 and is expected to close in 30 to 45 days. Transaction is expected to complete in 4 to 8 months. As on July 15, 2020, Knight Therapeutics announced the launch of the tender offer. In connection with the tender offer, the auction will take place on August 14, 2020. Settlement will be completed within 2 business days following the auction.