Claritas Announces Transfer of GVHD Program and Cancellation of Related Debt as Company Focuses on Nitric Oxide Therapeutics

June 1, 2021

SAN FRANCISCO, CA and TORONTO, ON  — (June 1, 2021) – Claritas Pharmaceuticals, Inc. (TSX VENTURE EXCHANGE: CLAS and OTC: KALTF) (the “Company” or “Claritas“) today announced that it has entered  into an agreement (the “Debt Forgiveness Agreement”) with the former shareholders of Talent Biotechs Ltd. (the “Talent Shareholders”), under which Claritas will  transfer all assets of its program developing cannabidiol for the prevention and treatment of graft versus host disease (the “GVHD Program”) to the Talent Shareholders in exchange for forgiveness of debt and contingent liabilities.