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Kalytera Therapeutics Announces Filing of Short Form Prospectus
Kalytera Therapeutics Announces Filing of 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, April 17, 2019 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (the “Company”, or “Kalytera”) (TSXV:KALY) (OTCQB:KALTF) announced today that it has filed a final short form prospectus (the “Final Prospectus”) with securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario (and received a receipt therefor) in connection with its previously announced marketed offering of a minimum of 90,000,000 units of the Company (“Units”, or each a “Unit”) and a maximum of 200,000,000 Units for gross proceeds of $4,500,000 to $10,000,000 (the “Offering”). The first closing of the Offering is expected to occur on or about April 26, 2019, or such other date or dates as the Company and the Agents (as defined below) may agree (the “Closing Date”). Pursuant to the Final Prospectus, each Unit will be offered at an issue price of $0.05 per Unit. Each Unit will consist of one common share in the Company (each a “Common Share”) and one common share purchase warrant (each a “Warrant” and collectively the “Warrants”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.065 for a period of 36 months from the first Closing Date. The Company intends to use the net proceeds of the Offering: (i) to pay milestone payments owing to the former shareholders of Talent Biotechs Ltd; (ii) to progress its Phase 2 clinical study evaluating cannabidiol for the prevention of graft versus host disease (“GVHD”); (iii) for administrative expenses; and (iv) depending on the amount of proceeds, to progress its program to create a novel, proprietary CBD analogue for treatment of acute and chronic pain. Echelon Wealth Partners Inc. and Paradigm Capital Inc. (collectively, the “Agents”) will conduct the Offering on a commercially reasonable efforts basis pursuant to an agency agreement dated April 16, 2019. The Agents 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, and shall also be granted broker warrants (“Broker Warrants”) to acquire that number of C...