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Kalytera Announces Additional Share Issuance for Services under Payments Agreement with Salzman Group
Kalytera Announces Additional Share Issuance for Services under Payments Agreement with Salzman Group.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\nSAN FRANCISCO and TEL AVIV, Israel, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KALY and OTCQB: KALTF) (the \"Company\" or \"Kalytera\") today announced that the Company has elected to issue 10,124,550 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.\n The invoiced amounts to be paid in Common Shares to The Salzman Group total to the amount of US$587,164 (or C$774,528.03 based on the daily average exchange rate for December 3, 2018 published by the Bank of Canada).  The number of Common Shares to be issued is based on a deemed issue price of C$0.0765 per Common Share, being 90% of the closing price of the Common Shares on the TSXV on December 3, 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 December 5, 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 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-...