Kalytera Therapeutics, Inc. (TSX VENTURE: KALY and OTCQB: KALTF) (the “Company” or “Kalytera”) today announced that it has granted stock options on June 19, 2019 to the directors of the Company. The stock options have an exercise price of $0.05 per common share and expire ten years from the date of grant. One third of the options granted will vest on June 19, 2020 and the remaining options will vest in twenty-four (24) equal monthly installments commencing July 2020.
Stock options to purchase 68,698 common shares of Kalytera were granted to Ron Erickson, stock options to purchase 254,345 common shares were granted to Jeff Paley, and stock options to purchase 1,000,000 common shares were granted to Rob Hutchison, who very recently joined the Company’s board of directors. In addition, stock options to purchase 11,095,907 common shares of Kalytera were issued to Robert Farrell, a director and the Chief Executive Officer of the Company.
Kalytera Therapeutics, Inc. is pioneering the development of cannabidiol (CBD) therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines 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.
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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, or the risk that relevant regulatory approvals may fail to 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 is expressly qualified by this cautionary statement and is 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.