10:23:08 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Kalytera Therapeutics Inc
Symbol KALY
Shares Issued 236,594,492
Close 2018-08-17 C$ 0.095
Market Cap C$ 22,476,477
Recent Sedar Documents

Kalytera to issue 5.65M shares to Salzman Group

2018-08-17 17:22 ET - News Release

Mr. Robert Farrell reports

KALYTERA ANNOUNCES FURTHER PAYMENTS IN SHARES UNDER PAYMENTS AGREEMENTS WITH SALZMAN GROUP

Kalytera Therapeutics Inc. has elected to issue 5,657,957 common shares of the company to The Salzman Group in payment of invoices issued under the payments agreement with The Salzman Group previously announced on Dec. 7, 2017, and the additional payments agreement announced on June 15, 2018. Under the December, 2017, agreement, The Salzman Group provides, among other services, clinical study management services in relation to the phase 2 study evaluating the use of cannabidiol (CBD) in the prevention of graft versus host disease (GVHD). Under the June, 2018, agreement, The Salzman Group and its affiliates provide general and administrative support services, study set-up work for planned studies in connection with use of CBD in treatment of GVHD, and research and development work in connection with Kalytera's exclusive licence of cannabidiol-naproxen conjugates for treatment of pain.

The invoiced amounts to be paid in common shares to The Salzman Group is the amount of $329,101 (U.S.) (or $432,833.64 (Canadian) based on the daily average exchange rate for Aug. 16, 2018, published by the Bank of Canada). The number of common shares to be issued is based on a deemed issue price of 7.65 Canadian cents per common share, being 90 per cent of the closing price of the common shares on the TSX Venture Exchange on Aug. 16, 2018, the trading day prior to the company's election to pay the invoiced amounts in common shares. The common shares are expected to be issued to The Salzman Group today.

The company and The Salzman Group have also approved a modification to the irrevocable selling agreement established by The Salzman Group with its broker, such that the common shares issued today and any further common shares issued under the December, 2017, agreement and the June, 2018, agreement shall be sold on each of the 10 trading days following deposit of such shares in the brokerage account of The Salzman Group (instead of being sold over three or five trading days).

About Kalytera Therapeutics Inc.

Kalytera Therapeutics 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 GVHD.

Kalytera also intends to develop a new class of proprietary CBD therapeutics. CBD is a versatile compound that has shown activity against a number of pharmacological targets.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.