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Kalytera Announces Settlement of Debt Transaction
Kalytera Announces Settlement of Debt Transaction.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\n\n SAN FRANCISCO and TEL AVIV, Israel, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX-V:KALY) (OTCQB:KALTF) (the \"Company\" or \"Kalytera\") today announced that it has entered into an agreement to pay amounts owing to a service provider for past services in common shares of the Company (“Common Shares”). The transaction is subject to approval by the TSX Venture Exchange (“TSXV”).\n The debt owing is in the amount of US$76,000 (or C$94,969.60 based on the daily average exchange rate for January 10, 2018 published by the Bank of Canada).  This debt will be extinguished through the issuance of 328,614 Common Shares.  The number of Common Shares to be issued is based on a deemed issue price of C$0.289 per Common Share, being 85% of the closing price of the Common Shares on the TSXV on January 11, 2018. The Company will issue these Common Shares, which will be subject to a four month hold period, upon approval of the TSXV. About Kalytera Therapeutics Kalytera 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 Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) a...