Claritas Pharmaceuticals : Announces Settlement of Debt Transaction

SAN FRANCISCO, CA and TORONTO - Claritas Pharmaceuticals, Inc. (TSX VENTURE: CLAS and OTC: KALTF) (the 'Company' or 'Claritas') announced that it has entered into an agreement to pay amounts owing to a service provider for past services in common shares of the Company ('Common Shares'). The transaction is subject to approval by the TSX Venture Exchange (the 'TSXV').

The debt owing is in the amount of $241,009.12. This debt (the 'Debt') is owed to Roni A. Cohen dba RacTech ('RacTech') as compensation for website development and design, website hosting, support social media management, IT services, SAP and SAS application licensing, installation and support, and various other IT related activities. The Company will issue 6,885,975 Common Shares to RacTech upon approval of the TSXV.

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.

This press release may contain certain forward-looking information and statements ('forwardlooking 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:

Robert Farrell

President, CEO

T: [phone]

E: [e-mail]

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