Kalytera Announces Further Issuance of Shares under Services Agreement with Salzman Group
February 23 2018 - 8:23AM
Kalytera Therapeutics, Inc. (TSX VENTURE:KALY) (OTCQB:KALTF) (the
"
Company" or "
Kalytera") today
announced that the Company has elected to issue 513,818 common
shares of the Company (“
Common Shares”) to The
Salzman Group in payment of a further invoice issued under the
services agreement with The Salzman Group previously announced on
December 7, 2017 (the “
Agreement”). Under
the Agreement, The Salzman Group provides, among other services,
clinical study management services in relation to the Phase 2 study
evaluating the use of cannabidiol in the prevention of graft versus
host disease.
The invoice owing to The Salzman Group is in the
amount of US$112,798 (or C$143,354.98 based on the daily average
exchange rate for February 22, 2018 published by the Bank of
Canada). The number of Common Shares to be issued is based on
a deemed issue price of C$0.279 per Common Share, being 90% of the
closing price of the Common Shares on the TSXV on February 22,
2018, the trading day prior to the Company’s election to pay the
debt in Common Shares. The Common Shares are expected
to be issued to The Salzman Group on or about February 28,
2018.
About Kalytera TherapeuticsKalytera
Therapeutics, Inc. ("Kalytera") is pioneering the
development of a next generation of cannabinoid therapeutics.
Through its proven leadership, drug development expertise, and
intellectual property portfolio, Kalytera seeks to establish a
leading position in the development of novel cannabinoid medicines
for a range of important unmet medical needs, with an initial focus
on graft versus host disease (“GVHD”).
Kalytera also intends to develop a new class of
proprietary cannabidiol ("CBD") therapeutics. CBD
is a versatile compound that has shown activity against a number of
pharmacological targets. However, there are limitations associated
with natural CBD, including its poor oral bioavailability. Kalytera
will seek to develop innovative CBD formulations and prodrugs in an
effort to overcome these limitations, and to target specific
disease sites within the body. Kalytera intends to file composition
of matter and method of use patents covering its novel inventions,
with the goal of limiting future competition.
- Website Home: https://kalytera.co/
- News and Insights: https://kalytera.co/news/
- Investors: https://kalytera.co/investors/
Cautionary StatementsNeither 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.
This press release may contain certain
forward-looking information and statements ("forward-looking
information") within the meaning of applicable Canadian securities
legislation, that are not based on historical fact, including
without limitation in respect of its product candidate pipeline,
planned clinical trials, regulatory approval prospects,
intellectual property objectives and other statements containing
the words "believes", "anticipates", "plans", "intends", "will",
"should", "expects", "continue", "estimate", "forecasts" and other
similar expressions. Readers are cautioned to not place undue
reliance on forward-looking information. Actual results and
developments may differ materially from those contemplated by these
statements depending on, among other things, the risk that future
clinical studies may not proceed as expected or may produce
unfavourable results. Kalytera undertakes no obligation to comment
on analyses, expectations or statements made by third-parties, its
securities, or financial or operating results (as applicable).
Although Kalytera believes that the expectations reflected in
forward-looking information in this press release are reasonable,
such forward-looking information has been based on expectations,
factors and assumptions concerning future events which may prove to
be inaccurate and are subject to numerous risks and uncertainties,
certain of which are beyond Kalytera's control. The forward-looking
information contained in this press release are expressly qualified
by this cautionary statement and are made as of the date hereof.
Kalytera disclaims any intention and has no obligation or
responsibility, except as required by law, to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise.
Contact Information
- Robert Farrell President, CEO (888) 861-2008
info@kalytera.co
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