Claritas Pharmaceuticals Inc V.CLAS.H

Another NR !!!

[HighSkies2019]

Claritas acquisition of exclusive R-107 licence 2021-12-21 16:12 ET - Property Agreement The TSX Venture Exchange has accepted for filing documentation an amended licence agreement dated Dec. 17, 2021, between Salzman Group Inc., Salzman Group Ltd. and Salzman Group Pty. Ltd. (collectively, the Salzman Group) and the company. Pursuant to the terms of the amended agreement, the company will acquire the exclusive, worldwide licence to develop and commercialize R-107 for the treatment of pulmonary diseases. In return for the exclusive license, the company will provide Salzman Group with the following total consideration: $12,300 (U.S.) in cash to Salzman Group Pty. and $287,700 (U.S.) in cash to Salzman Group Ltd.;1.2 million common shares at a deemed price of 80 cents per common share will be allocated to Salzman Group Pty. upon executing the agreement. In accordance with the terms of the agreement, the company will provide Salzman Group with an aggregate of $19-million (U.S.) in cash payments upon achieving certain milestones. Salzman Group will also further retain an 8-per-cent net sales royalty on all R-107 products sold for the treatment of pulmonary arterial hypertension throughout the term of the patent. This transaction is considered a related party transaction as a result of Salzman Group being an insider of the company. For further information, please reference the company's news releases dated April 14, 2021, and Dec. 17, 2021.