Kalytera Announces Closing of Private Placement of Common Shares and Common Share Purchase Warrants
January 15 2019 - 8:19PM
Not for distribution to U.S. Newswire Services or
for dissemination in the United States. Any failure to comply with
this restriction may constitute a violation of U.S. Securities
laws.
Kalytera Therapeutics, Inc. (TSX VENTURE: KALY
and OTCQB: KALTF) (the “Company” or
“Kalytera”) is pleased to announced the closing of
its previously announced private placement of 11,532,000 common
shares of the Company and 11,532,000 common share purchase warrants
for aggregate gross proceeds of C$605,430. Alere Financial
Partners, a division of Cova Capital Partners LLC, acted as agent
in the offering and as compensation will receive a cash commission
equal to 8% of the aggregate gross proceeds and will be issued
922,560 warrants bearing the same terms as those issued in the
offering. All securities issued in the offering are subject
to a hold period expiring on May 16, 2019 in accordance with
applicable securities laws. The offering remains subject to final
TSX Venture Exchange approval.
The Company intends to use the net proceeds of
the offering for working capital and general corporate
purposes.
The securities offered have not been, and will
not be, registered under the U.S. Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any U.S. state securities
laws, and were not offered or sold in the United States or to, or
for the account or benefit of, United States persons absent
registration or any applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state
securities laws. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
The private placement of up to 6,000,000 common
shares and 6,000,000 common share purchase warrants of the Company
previously announced on January 11, 2019, will close on or about
January 18, 2019.
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 (“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 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-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", "will",
"should", "expects", "continue", "estimate", "forecasts" and other
similar expressions. Readers are cautioned to not place undue
reliance on forward-looking information. Actual results and
developments may differ materially from those contemplated by these
statements depending on, among other things, the risk that future
clinical studies may not proceed as expected or may produce
unfavourable results and the risk that required regulatory
approvals may not be obtained. Kalytera undertakes no obligation to
comment on analyses, expectations or statements made by
third-parties, its securities, or financial or operating results
(as applicable). Although Kalytera believes that the expectations
reflected in forward-looking information in this press release are
reasonable, such forward-looking information has been based on
expectations, factors and assumptions concerning future events
which may prove to be inaccurate and are subject to numerous risks
and uncertainties, certain of which are beyond Kalytera's control.
The forward-looking information contained in this press release are
expressly qualified by this cautionary statement and are made as of
the date hereof. Kalytera disclaims any intention and has no
obligation or responsibility, except as required by law, to update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise.
Contact InformationRobert Farrell President,
CEO (888) 861-2008 info@kalytera.co
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