Kalytera Therapeutics Inc. Completes Name Change to Claritas Pharmaceuticals, Inc.
April 02 2021 - 3:00PM
Kalytera Therapeutics, Inc. (TSX VENTURE EXCHANGE: KLY and OTC:
KALTF) (the "
Company" or
"
Kalytera") today announced that the Company has
changed its name to Claritas Pharmaceuticals, Inc.
The decision to rename the Company signals the
re-launch of the Company, and its intent to focus on the
development of its proprietary drug, R-107, for the treatment of
vaccine-resistant strains of COVID-19 as well as other viral
infections. R-107 is a nitric oxide-releasing molecule designed to
treat vaccine-resistant COVID-19 infection as well as the
viruses that cause influenza and the common cold.
The Company’s ticker symbol will change as a
result of the name change. The new ticker symbol will be CLAS,
pending final approval of the TSX Venture Exchange which is
anticipated early next week.
Shareholders will receive letters of transmittal
from the Company’s transfer agent, which will also be posted on
SEDAR, and which can be used to exchange their current share
certificates for certificates with the Company’s new name.
Shareholders holding shares in electronic form need not take any
action. All shareholders should refer to the letter of transmittal
and instructions from their broker/dealer.
The Company’s new CUSIP and ISIN numbers for the
Company’s active listed securities under its new name are:
- Common shares: ISIN: CA1806341071 ;
CUSIP: 180634107
- Warrants designated as WT: ISIN:
CA1806341154 ; CUSIP: 180634115
- Warrants designated as WTS22: ISIN:
CA1806341238 ; CUSIP: 180634123
The Company also announced today that it is
holding its annual and special meeting of shareholders on June 17,
2021 (together with any adjournment or postponement thereof, the
“Meeting”). The record date for the Meeting is April 28, 2021. Only
shareholders of record at the close of business on April 28, 2021,
may vote at the Meeting. The Company's proxy statement will be sent
to shareholders of record and will describe the matters to be voted
upon. Only shareholders of record at the close of business on April
6, 2021, may vote at the meeting. The Company's proxy statement
will be sent to shareholders of record and will describe the
matters to be voted upon. The Meeting will begin at 9:00 a.m.
Pacific Time and will include an update on the Company's operations
and business strategy. For the convenience of shareholders,
shareholders may view the Meeting live via a webcast. The link for
the webcast will be included in shareholder materials, and will
also be posted on the Company’s website in the investors
section.
At the Meeting, shareholders will be asked to
vote on the election of directors; the appointment of the Company’s
auditors; and the renewal of the Company’s rolling 10% stock option
plan. Shareholders will also be asked to consider and vote on a
resolution that would approve a special resolution authorizing the
Company to transfer and sell to the former shareholders of Talent
Biotechs Ltd. (the “Former Shareholders”) all assets of the
Company’s program developing cannabidiol for the prevention and
treatment of graft versus host disease (the “GVHD Program”) in
consideration for the release and discharge by the Former
Shareholders of all obligations the Company and its subsidiaries
have to such Former Shareholders. In addition, shareholders will
also be asked to consider and vote on a resolution that would
authorize the board of directors of the Company (the “Board”) to
implement, at a later date, a potential consolidation (the
“Potential Consolidation”) of the Company’s common shares (the
“Common Shares”) on the basis of a ratio of one post-consolidation
Common Share to up to 20 pre-consolidation Common Shares (or a
lower number of pre-consolidation Common Shares as may be
determined by the Board).The Company is seeking authority to
complete a Potential Consolidation at a later date if and when it
is in the best interests of the Company to do so, but the Board has
not made a decision to implement a Potential Consolidation at this
time. Even if the Potential Consolidation is approved by
shareholders at the Meeting the Board will have the discretion to
not proceed with the Potential Consolidation. If the Board decides
to proceed with the Potential Consolidation, the purpose for doing
so would be to generate interest in the Company among certain
investors, to comply with the pricing policies of the TSX Venture
Exchange (the “TSXV”), to improve the trading liquidity of the
Common Shares and to reduce volatility in the price of the Common
Shares.In addition to shareholder approval, the Potential
Consolidation is subject to the approval of the TSXV. If the
Potential Consolidation were to be implemented today at the maximum
authorized consolidation ratio, the 571,027,592 currently issued
and outstanding Common Shares would be consolidated into 28,551,380
Common Shares. Additional information on the Potential
Consolidation, and the risks associated therewith, can be found in
the management information circular of the Company that will be
sent to Claritas shareholders in connection with the Meeting and
will be available on the Company’s SEDAR profile
About Claritas
PharmaceuticalsClaritas Pharmaceuticals, Inc. is a
clinical stage biopharmaceutical company focused on developing and
commercializing therapies for patients with significant unmet
medical needs. Claritas focuses on areas of unmet medical need, and
leverages its expertise to find solutions that will improve health
outcomes and dramatically improve people's lives.
- Website
Home: https://claritaspharma.com/
- News and
Insights: https://claritaspharma.com/news/
-
Investors: https://claritaspharma.com/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
unfavorable results. Claritas undertakes no obligation to comment
on analyses, expectations or statements made by third parties, its
securities, or financial or operating results (as applicable).
Although Claritas 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 Claritas’ control. The company’s name
change has not yet been affected and the company believes that it
will affect the name change subject to regulatory compliance as
soon as practicable after this news release. The forward-looking
information contained in this press release is expressly qualified
by this cautionary statement and is made as of the date hereof.
Claritas 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
FarrellPresident, CEO(888) 861-2008info@claritas.co
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