SAN FRANCISCO and TEL AVIV, Israel, Jan. 15, 2019 (GLOBE NEWSWIRE) --
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 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/
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- 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) 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 ris k 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 Information Robert Farrell President, CEO (888) 861-2008 info@kalytera.co
