Claritas Pharmaceuticals Inc CLAZF

RE:RE:RE:RE:RE:More good news for SaNOtize more good news for us....

[whisky11]

Scotty] Financing.


whisky11: how financing would look like if Claritas bought  Salzman Group? Now the situation is different, Claritas buy R-107 programs I would say that it will be something similar mix of government funds and PP. The huge number of shares which Claritas would have to issue was to buy all Salzman Group.

• R-107 is a liquid prodrug of nitric oxide. Based on the fact that nitric oxide is an approved treatment for acute respiratory failure in newborns, and the clinical evidence of nitric oxide’s antiviral activity against strains of coronavirus, Salzman Group will develop R-107 for treatment of COVID-19 associated lung disease.
• Salzman Group is also developing R-107 for chlorine inhalation lung injury (“CILI”). This project has been funded in whole or in part with Federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority, under Contract No. HHSO100201600016C (the “BARDA Contract”).
• Salzman Group will make an application for an additional BARDA contract to develop R-107 for treatment of COVID-19 associated lung disease.
• The potential total funding under the BARDA Contract for development of R-107 for CILI is USD $84.9 million.
• If Salzman Group’s application for a new BARDA contract for development of R-107 for COVID-19 associated lung disease is successful, Salzman Group may receive an additional USD $20 million under this new BARDA contract.
• Kalytera would recognize approximately USD $4.2 million of net operating profits under the BARDA Contract over the next 36 months if all developmental milestones under the contract are met. If the application for the new BARDA contract to fund the COVID-19 indication is approved, Kalytera would recognize approximately an additional USD $1.2 million of net operating profits over the same period if all developmental milestones under the new contract are met.
• The acquisition of Salzman Group will be completed by issuance of 130 million Kalytera common shares within 30 days after execution of definitive agreements, with approximately 394 million additional shares to be issued upon shareholder approval, after which the former shareholders of Salzman Group would own 49.9% of Kalytera’s outstanding common shares. After issuance of the additional shares, the former shareholders of Salzman Group would become new Control Persons of the Company, which is a matter that will require shareholder approval.
• As additional consideration for the initial issuance of the 130 million common shares, Salzman Group will grant to Kalytera a license to develop and commercialize R-107 for treatment of COVID-19 associated lung disease in Canada.
• Kalytera also announces a private placement to raise up to CDN $5,000,000 by issuing Units at CDN $0.015 per Unit. Each Unit will be comprised of one (1) common share of Kalytera and one (1) common share purchase warrant, with each warrant exercisable at CDN $0.05 for 24 months.