Claritas Pharmaceuticals Inc V.CLAS.H

update from CEO

[Torontouser]

Following are the steps Kalytera must complete before we can apply to the TSXV for the shares to resume trading:

1. Complete audit of 2019 financial statements (BDO has committed to complete the audit by end of September)
2. File MD&A for FY 2019
3. File MD&A for Q1 2020
4. File MD&A for Q2 2020
5. Apply to BCSC and OSC for revocation of CTO
6. Apply to TSXV for reinstatement

The audit is ongoing with BDO.  We expect it to be complete by end of this month. We expect to file the 3 MD&A's in first week of October, and then apply for reinstatement with the TSXV.

 

After we file the 3 MD&As, we will pursue the following strategy:

1. We will re-position the Company with a new website, and IR/PR campaign
   • The website will focus on the drug that we will acquire from Salzman Group (R-107)
   • IR/PR messaging will focus on R-107
2. We will complete a financing with Echelon and/or Mackie Research
   • It is a condition to TSXV approval of the Salzman Group acquisition that the Company have at least 6-months working capital at close of the acquisition
     • Our 6-months R&D costs will be covered by the BARDA contract, so our 6-month working capital requirement will be for 6-months of G&A costs
   • I anticipate that these financing proceeds will be funded in escrow pending shareholder approval of the Salzman Group acquisition 
3. After the 3 MD&As are filed, we will schedule a shareholder meeting to seek shareholder approval of the Salzman Group acquisition

Regards,

 

Bob