Kalytera Therapeutics closes brokered private placement of common shares

On February 7, 2017, Kalytera Therapeutics, Inc. ("Kalytera") announced the closing of the first tranche of its previously announced brokered private placement offering of common shares. The first tranche consisted of the issuance of 29,833,300 common shares at a price of C$0.45 per share for gross proceeds of C$13,424,985.

Kalytera announced the closing of the second and final tranche of its brokered private placement on February 17, 2017. The second tranche closing consisted of the issuance of 3,500,033 common shares at a price of C$0.45 per share for gross proceeds of C$1,575,015. Together with the closing of the first tranche, an aggregate of 33,333,333 common shares have been issued for aggregate gross proceeds of C$15,000,000.

Clarus Securities Inc., as lead agent, together with Haywood Securities Inc. and Canaccord Genuity Corp., acted as agents for and on behalf of Kalytera in connection with the closings for both tranches.

The net proceeds of the offering will be used by Kalytera for the acquisition of Talent Biotechs Ltd., to complete work required to advance the Talent Biotechs product into Phase 2b clinical testing for FDA purposes, and for general corporate and working capital purposes.

Kalytera Therapeutics is a clinical-stage pharmaceutical company pioneering the development of a next generation of cannabinoid therapeutics.

Further information on both tranches can be found on Marketwired's website—First Tranche Closing and Second Tranche Closing.