MONTREAL, CANADA--(Marketwired - April 17, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Knight Therapeutics Inc. ("Knight" or the "Company") (TSX VENTURE:GUD) today announced that it has received receipts dated April 17, 2014 for its short form prospectuses both dated April 17, 2014 (the "Final Prospectuses") filed with the securities regulatory authorities in the applicable provinces of Canada with respect to the distribution of an aggregate of 55,728,580 Common Shares (as defined below) issuable pursuant to the exercise of an aggregate of 55,728,580 common share special warrants (the "Special Warrants"). 21,428,580 Special Warrants were issued on March 19, 2014 at a price of $3.50 per Special Warrant pursuant to an underwritten private placement through a syndicate of underwriters led by GMP Securities L.P. ("GMP") and including Cormark Securities Inc. ("Cormark") and 34,300,000 Special Warrants were issued on April 10, 2014 at a price of $5.25 per Special Warrant pursuant to an underwritten private placement through a syndicate of underwriters co-led by GMP and Cormark, and including Bloom Burton & Co. as a selling group member. In accordance with the indentures governing the Special Warrants, each Special Warrant entitles the holder thereof to receive one Common Share on the exercise or deemed exercise of the Special Warrant for no additional consideration. All unexercised Special Warrants will be deemed to have been exercised without the payment of additional consideration or further action on the part of the holder within five (5) business days from the date hereof.

Following the date of the deemed exercise of the Special Warrants, Knight will have an aggregate of 77,764,640 common shares ("Common Shares") issued and outstanding. "Knight now has approximately $250 million of cash, an FDA priority review voucher which we intend to sell, and royalties associated with the sale of Impavido. Including the U.S. FDA approval last month, Impavido is approved for the treatment of leishmaniasis in 16 countries. In short, we have all the necessary tools to start building," said Jonathan Ross Goodman, President & CEO of Knight Therapeutics Inc.

Further, Knight announced today that it has received conditional approval to have the Common Shares listed for trading on the Toronto Stock Exchange. The listing is subject to the fulfillment of customary conditions and Knight expects the Common Shares to begin trading on the Toronto Stock Exchange by the end of April, at which time the Common Shares will be de-listed from the TSX Venture Exchange.

The securities that were sold have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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 world markets. Knight Therapeutics' shares began trading on the TSX-V on March 3, 2014 under the symbol GUD. For more information about Knight Therapeutics, please visit the Company's web site at www.gud-knight.com or at www.sedar.com.

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the Company's final application for listing on the TSX Venture Exchange and can be found on SEDAR at www.sedar.com, which investors should consult for additional information. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.