SAN FRANCISCO and TORONTO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Claritas Pharmaceuticals, Inc. (TSX VENTURE: CLAS and OTC: CLAS.V) (the "Company" or "Claritas") today announced the engagement of B. Riley Securities, Inc. (“B. Riley Securities”) as its exclusive capital markets advisor with respect to the Company’s planned up-listing of its securities on the OTCQB.
"We view the planned up-listing on the OTCQB as an important milestone for Claritas," stated Robert Farrell, Claritas’ President and CEO. "The OTCQB will afford us greater visibility within the U.S. investment community, should enhance our liquidity and should increase our access to U.S. institutional and retail investors. We believe this additional capital markets exposure will be invaluable as we continue development of R-107 for treatment of COVID related lung disease and sepsis, and for treatment of pulmonary arterial hypertension (“PAH”). Our planned up-list to the OTCQB will be a step toward our later application for listing on the NASDAQ exchange."
The OTCQB is operated by OTC Markets Group Inc., and is designed for developing and entrepreneurial companies in the United States and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. B. Riley Securities will act as the Company's OTCQB sponsor. B. Riley Securities is a full-service investment bank and subsidiary of B. Riley Financial, Inc., based in Los Angeles with offices across the United States, providing corporate finance, research, sales, and trading services.
Claritas is not making any express or implied claims that its products in development have the ability to eliminate or cure COVID-19 or the SARS-CoV-2 virus.
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 leverages its expertise to find solutions that will improve health outcomes and dramatically improve people's lives.
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 unfavorable results. Claritas undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although Claritas 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 Claritas’ control. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Claritas 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
Robert Farrell
President, CEO
(888) 861-2008
info@claritaspharma.com
