Claritas Pharmaceuticals Inc V.CLAS.H

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[HighSkies2019]

Claritas issues shares, warrants for services 2021-10-25 15:54 ET - News Release Mr. Robert Farrell reports CLARITAS ANNOUNCES APPROVAL OF SHARES FOR SERVICES AGREEMENTS AND ISSUANCE OF SECURITIES FOR SERVICES Further to its press release dated Sept. 30, 2021, Claritas Pharmaceuticals Inc. has received approval from the TSX Venture Exchange with respect of its shares for service agreements between the company, its U.S. subsidiary and Nox Law Corp. and has issued shares and warrants to Nox as compensation for services rendered by Nox. The company has paid USD $18,952.50 through the issuance of 94,150 common shares and 94,150 common share purchase warrants of the Company to pay for certain previous services rendered from July 2020 onward and for fees previously deferred for prior services. The amount paid includes payment of taxes. The shares were issued effective October 15, 2021 and the warrants effective October 22, 2021 based on the Company's internal processing timelines. The warrants have a term of 2-years and an exercise price per share that is set at a 10% premium to the prior trading day's closing market price of the Company's common shares before the date of TSXV's approval of the issuance, which exercise price is CAD $0.3135 per share. The number of common shares issued was calculated by: dividing USD $18,952.50 by USD $0.2013 per share (calculated by reference to the closing price of the common shares on the trading day prior to the TSXV's approval of the issuance (of CAD $0.285 per share) minus a discount of 10% for a deemed issuance price of CAD $0.256 per share and then converted to US dollars). The exchange rate was calculated with reference to the Bank of Canada's rate on September 30, 2021 and set for the shares issuance at CAD $1.2741 to $1 USD resulting in USD deemed price of $0.2013 per share. There will be no holds on the securities issued to Nox or its account holder. For administrative ease, Nox requested that any securities be issued to its designated account holder on its behalf. Nox is not a party to any escrow, voting or pooling arrangement. The Company thanks Nox and lead counsel Arash Farahmand for their services. About Claritas Pharmaceuticals Claritas Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs. Claritas focuses on areas of unmet medical need, and leverages its expertise to find solutions that will improve health outcomes and dramatically improve people's lives.