Kalytera Announces Next Share Issuance for Services under Payments Agreement with Salzman Group
November 12 2018 - 1:35PM
Kalytera Therapeutics, Inc. (TSX VENTURE: KALY and OTCQB: KALTF)
(the "
Company" or "
Kalytera")
today announced that the Company has elected to issue 3,963,988
common shares of the Company (“
Common Shares”) to
The Salzman Group in payment of invoices issued under the payments
agreement announced on June 15, 2018 (the “
June 2018
Agreement”). Under the June 2018 Agreement, The
Salzman Group and its affiliates provide general and administrative
support services, study set-up work for planned studies in
connection with use of CBD in treatment of GVHD, and research and
development work in connection with Kalytera’s exclusive license of
cannabidiol-naproxen conjugates for treatment of pain.
The invoiced amounts to be paid in Common Shares
to The Salzman Group total to the amount of US$297,164 (or
C$392,434.78 based on the daily average exchange rate for November
9, 2018 published by the Bank of Canada). The number of
Common Shares to be issued is based on a deemed issue price of
C$0.099 per Common Share, being 90% of the closing price of the
Common Shares on the TSXV on November 9, 2018, the trading day
prior to the Company’s election to pay the invoiced amounts in
Common Shares. The Common Shares are expected to be issued to
The Salzman Group on or about the date hereof.
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 and the treatment of acute and chronic
pain.
- 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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