SAN FRANCISCO and TEL AVIV, Israel, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE:
KALY and OTCQB: KALTF) (the "Company" or "Kalytera") today announced that the Company has elected
to issue 10,124,550 common shares of the Company (“Common Shares”) to The Salzman Group in payment of invoices
issued under the payments agreement announced on June 15, 2018 (the “June 2018 Agreement”). Under the June
2018 Agreement, The Salzman Group and its affiliates provide general and administrative support services, study set-up work for
planned studies in connection with use of CBD in treatment of GVHD, and research and development work in connection with Kalytera’s
exclusive license of cannabidiol-naproxen conjugates for treatment of pain.
The invoiced amounts to be paid in Common Shares to The Salzman Group total to the amount of US$587,164 (or
C$774,528.03 based on the daily average exchange rate for December 3, 2018 published by the Bank of Canada). The number of
Common Shares to be issued is based on a deemed issue price of C$0.0765 per Common Share, being 90% of the closing price of the
Common Shares on the TSXV on December 3, 2018, the trading day prior to the Company’s election to pay the invoiced amounts in
Common Shares. The Common Shares are expected to be issued to The Salzman Group on or about December 5, 2018.
About Kalytera Therapeutics
Kalytera Therapeutics, Inc. ("Kalytera") is pioneering the development of a next generation of
cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera
seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical
needs, with an initial focus on graft versus host disease and the treatment of acute and chronic pain.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking information and statements ("forward-looking
information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including
without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects,
intellectual property objectives and other statements containing the words "believes", "anticipates", "plans", "intends", "will",
"should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue
reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these
statements depending on, among other things, the risk that future clinical studies may not proceed as expected or
may produce unfavourable results. Kalytera undertakes no obligation to comment on analyses, expectations or statements
made by third-parties, its securities, or financial or operating results (as applicable). Although Kalytera believes that the
expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has
been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to
numerous risks and uncertainties, certain of which are beyond Kalytera's control. The forward-looking information contained in this
press release are expressly qualified by this cautionary statement and are made as of the date hereof. Kalytera disclaims any
intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise.
Contact Information
