Kalytera Therapeutics completes C$6.76 million public offering of units

April 26, 2019

Torys represented Kalytera with a team that included Matthew Atkey, Raegan Kennedy and Cal Hunter (corporate/securities).

On April 26, 2019, Kalytera Therapeutics, Inc. ("Kalytera") completed its previously announced public offering of units for aggregate gross proceeds of C$6,758,300. Echelon Wealth Partners Inc. and Paradigm Capital Inc. acted as agents for and on behalf of the company.

Pursuant to the offering, Kalytera issued a total of 135,166,000 units at an issue price of C$0.05 per unit. Each unit consists of one common share in the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of C$0.065 for a period of 36 months from the closing date.

Kalytera intends to use the net proceeds of the offering to pay milestone payments owing to the former shareholders of Talent Biotechs Ltd, for research and development expenses and for general and administration expenses, as described in the company’s final short form prospectus dated April 16, 2019.

Kalytera 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 and treatment of acute and chronic pain.

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