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Kalytera Announces Modification to Sale Period for Shares Issued under Payments Agreement
Kalytera Announces Modification to Sale Period for Shares Issued under Payments Agreement.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\n SAN FRANCISCO, Calif. and TEL AVIV, Israel, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTCQB: KALTF) (the \"Company\" or \"Kalytera\") today announced a modification to the sale period contemplated by the irrevocable selling agreement between Salzman Group and its broker with respect to common shares of Kalytera.  The shares issued to Salzman Group under the previously announced payments agreement will now be sold by the broker over ten trading days (rather than five trading days).  Under the payments agreement with the Salzman Group of Israel, Kalytera paid the Salzman Group USD$300,000 (CDN$399,150) through the issuance of Common Shares of the Company (“Common Shares”) at a deemed issued price of CDN$0.05 per Common Share, for certain services previously provided to the Company by the Salzman Group. Under various agreements and work orders, the Salzman Group has provided certain services in connection with the Company’s programs for the development of cannabidiol (“CBD”) for the prevention and treatment of graft versus host disease (“GVHD”). About Kalytera TherapeuticsKalytera Therapeutics, Inc. is pioneering the development of CBD therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines for a range of important unmet medical needs, with an initial focus on GVHD. Website Home: https://kalytera.co/News and Insights: https://kalytera.co/news/Investors: https://kalytera.co/investors/ Cautionary Statements Neither 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\", \"w...