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Kalytera Therapeutics Announces Filing of Amended and Restated Short Form Prospectus
Kalytera Therapeutics Announces Filing of Amended and Restated Short Form Prospectus.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\n SAN FRANCISCO and TEL AVIV, Israel, July 26, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (the \"Company\", or “Kalytera”) (TSXV:KALY) (OTCQB:KALTF) announced today that it has filed an amended and restated preliminary short form prospectus (the “Amended and Restated Prospectus”) with securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario in connection with its previously announced marketed offering of units of the Company (“Units”, or each a “Unit”) for gross proceeds of $3,000,000 to $10,000,000 (the “Offering”). The Amended and Restated Prospectus amends and restates the preliminary short form prospectus filed by Kalytera on July 9, 2018.  Pursuant to the Amended and Restated Prospectus, each Unit will be offered at an issue price of $0.11 (instead of $0.13) per Unit. The other terms of the Units will remain unchanged, such that each Unit will consist of one common share in the Company (each a “Common Share”) and one-half of one common share purchase warrant (each whole warrant individually a “Warrant” and collectively the “Warrants”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.155 for a period of 36 months from the Closing Date. The Company intends to use the net proceeds of the Offering to pay milestone payments owing to the former shareholders of Talent Biotechs Ltd, for research and development expenses and for general and administration expenses. As previously announced, Echelon Wealth Partners Inc. (“Echelon” or the \"Agent\") will conduct the Offering on a commercially reasonable efforts basis as the Company’s agent for the Offering in Canada.  The Units may also be offered for sale in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and applicable state laws. Echelon shall be entitled to a cash commission equal to 7.5% of the gross proceeds of the Offering, which shall be payable on the Closing Date. Echelon shall also be granted broker warrants (“Broker Warrants̶...