Canada markets closed

Kalytera Announces Modification to Sale Period for Shares Issued under Payments Agreement

SAN FRANCISCO, Calif. and TEL AVIV, Israel, Feb. 19, 2020 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTCQB: KALTF) (the "Company" or "Kalytera") today announced a modification to the sale period contemplated by the irrevocable selling agreement between Salzman Group and its broker with respect to common shares of Kalytera.  The shares issued to Salzman Group under the previously announced payments agreement will now be sold by the broker over ten trading days (rather than five trading days).  Under the payments agreement with the Salzman Group of Israel, Kalytera paid the Salzman Group USD$300,000 (CDN$399,150) through the issuance of Common Shares of the Company (“Common Shares”) at a deemed issued price of CDN$0.05 per Common Share, for certain services previously provided to the Company by the Salzman Group.

Under various agreements and work orders, the Salzman Group has provided certain services in connection with the Company’s programs for the development of cannabidiol (“CBD”) for the prevention and treatment of graft versus host disease (“GVHD”).

About Kalytera Therapeutics
Kalytera Therapeutics, Inc. is pioneering the development of CBD therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines for a range of important unmet medical needs, with an initial focus on GVHD.

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 and the risk that applicable regulatory approvals may not be obtained. 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 is expressly qualified by this cautionary statement and is 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

Robert Farrell
President, CEO
(888) 861-2008
info@kalytera.co