Claritas Pharmaceuticals : Announces Commitments from Company's Largest Shareholders to Vote for Approval of Share Consolidation
June 11, 2021 at 10:40 am EDT
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SAN FRANCISCO, CA and TORONTO - Claritas Pharmaceuticals, Inc. (TSX VENTURE EXCHANGE: CLAS and OTC: KALTF) (the 'Company' or 'Claritas') announced that it has received commitments from the Company's two largest shareholders to vote in favor of the special resolution to affect a consolidation of the Company's common shares. As previously announced, Claritas will hold its Annual General and Special Meeting of Shareholders on June 17, 2021 (the 'Annual Meeting') to consider and vote on several matters, including a special resolution authorizing the board of directors of the Company (the 'Board') to affect a consolidation of all of the Company's issued and outstanding Common Shares on the basis of one post consolidation Common Share for up to 20 pre-consolidation Common Shares (the 'Consolidation').
The Annual Meeting will be held virtually via webcast at https://virtual-meetings.tsxtrust.com/1148 at 2:30 PM EDT. Claritas shareholders of record as of the close of business on April 28, 2021 will be entitled to vote at the Annual Meeting.
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 focuses on areas of unmet medical need, and 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 company's name change has not yet been affected and the company believes that it will affect the name change subject to regulatory compliance as soon as practicable after this news release. 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.
Claritas Pharmaceuticals, Inc., formerly Kalytera Therapeutics Inc, is a biotechnology company that is focused on developing R-107 for the treatment of vaccine-resistant coronavirus disease (COVID) strains. The Companyâs products in development include R-107 for coronavirus disease and Viral Infections, R-107 and Vaccines, and CLA-1816 for treatment of pain. R-107 is designed to defeat COVID viruses on contact. R-107 targets the Achilles heel of COVID, the spike protein on the surface of the virus. R-107 releases nitric oxide, which attaches to a specific amino acid on the spike protein, thereby disabling the spike protein. The CLA-1816 provides effective pain reduction, without the risks of addiction or respiratory suppression that exist with opioid analgesics. CLA-1816 strongly binds with and activates the alpha3 glycine pain receptor in the spine. The Company has leased a laboratory, office, and archival space in Beverly, Massachusetts.
CLARITAS PHARMACEUTICALS, INC. 
