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Kalytera Therapeutics, Inc. (TSX Venture: KALY) (OTCQB:KALTF) (the “Company” or “Kalytera”) is pleased to announce that in connection with its previously announced public offering (the “Offering”) of units of the Company (“Units”) for aggregate gross proceeds of CDN$4,297,260, Echelon Wealth Partners Inc. (“Echelon”) who acted as agent for and on behalf of the Company in connection with the Offering, has exercised its over-allotment option in full, and an additional 5,859,900 Units were issued today representing additional gross proceeds of CDN$644,589.
Each Unit consists of one common share in the Company (each a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of CDN$0.155 (subject to customary adjustments for certain events) for a period of 36 months from the initial closing date of the Offering.
On closing of the exercise of the over-allotment option, Echelon was paid an additional commission comprised of a cash fee in the amount of CDN$48,344.18 and was issued an aggregate of 292,995 agent warrants. Each agent warrant is exercisable for Common Shares at a price of CDN$0.11 until August 8, 2020.
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.
Kalytera Therapeutics, Inc. (“Kalytera”) is pioneering the development of cannabidiol (“CBD”) therapeutics for life-threatening unmet medical needs. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines and proprietary cannabinoid therapeutics for a range of important unmet medical needs, with an initial focus on graft versus host disease (“GVHD”) and treatment of acute and chronic pain.
President and CEO
Phone: (888) 861-2008
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 statements relating to the completion of the Offering and associated transactions and 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 a number of risks, including the risk of failure to obtain the required approvals or clearances from regulatory authorities, the risk that future clinical studies may not proeed as expected or may produce unfavourable results and the risk that Kalytera may apply the proceeds of the Offering differently than as stated herein depending on future circumstances.. 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.