Kalytera Therapeutics, Inc. (TSXV:KALY, OTCQB:KALTF) (the “Company” or “Kalytera”) today announced that the Company has elected to issue 13,085,677 common shares of the Company (“Common Shares”) to The Salzman Group in payment of invoices issued under the payments agreement announced on June 15, 2018 (the “June 2018 Agreement”).  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 license of cannabidiol-naproxen conjugates for treatment of pain.

The June 2018 Agreement was amended today to change the scope of the services provided thereunder.  Additional services to be provided relate to a proposed Phase I clinical study to evaluate any effect of food on the pharmacokinetics of CBD, a proposed Phase I clinical study to investigate any drug-drug interactions with CBD, studies in respect of the use of CBD in prevention of GVHD, a proposed in-vitromechanism of action study of CBD, and a proposed pre-clinical study to evaluate the efficacy of CBD in protecting against intestinal mucosal injury.  This amendment of the June 2018 Agreement and the issuance of shares in payment of invoices for these additional services is subject to any TSXV approval required in connection with the amendment.


There has been no increase in the maximum dollar amount of services eligible for payment in shares under the June 2018 Agreement.  As previously announced, the term of the June 2018 Agreement will expire on March 1, 2019.

The invoiced amounts to be paid in Common Shares to The Salzman Group total to the amount of US$714,197 (or C$942,168.68 based on the daily average exchange rate for January 30, 2019 published by the Bank of Canada).  The number of Common Shares to be issued is based on a deemed issue price of C$0.072 per Common Share, being 90% of the closing price of the Common Shares on the TSXV on January 30, 2019, 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 on or about February 1, 2019 subject to any required TSXV approval.

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.

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 risk 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

Source: globenewswire.ca

BevCanna Enterprises (CSE:BEV,OTCQQ:BVNNF,FWB:7BC) CEO Marcello Leone shared how the company is scaling up its products to forge partnerships and explore opportunities across Canada, the US and Western Europe. 

“Getting your standard processing license and being fully compliant at a federal level is critical in Canada, and we were successful in getting that done. Now we’re getting ready to launch our Keef line of beverages within the next 45 days,” Leone said. 

As a young company, Leone said BevCanna has only started, but it took a four-pronged approach to make sure that it is a revenue-generating company prepared for the opening of many jurisdictions for CBD-based products.

“We are blessed that we have a beautiful infrastructure of our own, a state-of-the-art bottling facility with a capacity of almost 200 million bottles per annum and a strong balance sheet of $55 million. We are in a strong position to scale and grow this company.”

BevCanna has received a Standard Processing License from Health Canada and is now fully authorized to begin production at its full-service, high-capacity beverage manufacturing facility. The company will begin production of its white-label products, number one US cannabis beverage brand Keef and its in-house beverages through licensed Canadian retailers, positioning the company to fully capitalize on the burgeoning Canadian cannabis-infused beverage sector.

Watch the full interview with CEO Marcello Leone above.

Keep reading... Show less

BioHarvest Sciences (CSE: BHSC) will be presenting at the Benzinga Cleantech Small Cap Conference taking place on April 22, 2021. We invite our shareholders and all interested parties to explore cleantech small cap investment opportunities through two days of networking, dealmaking and discovery.

Sign up to get a free spectator pass for the event: https://www.benzinga.com/events/small-cap/clean-tech/

Keep reading... Show less

Positive distributor feedback and strong consumer interest accelerating launch with distributors

Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that its wholly-owned subsidiary Naturo Group has successfully completed its initial shipment of TRACE plant-based products to one of Japan’s largest beverage distributors.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced an additional refreshment of its board of directors to further strengthen its leadership in the cannabis industry.

Keep reading... Show less