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Kalytera Will Not Proceed with Vote on Potential Share Consolidation

/EIN News/ -- SAN FRANCISCO and TEL AVIV, Israel, July 26, 2019 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTCQB: KALTF) (the “Company” or “Kalytera”) announced today that after consultations with major shareholders, the board of directors of the Company has decided not to proceed at this time with the shareholder vote with respect to the authorization of a potential share consolidation as described in its announcement of July 5, 2019 and in the management information circular (the “Circular”) for its annual and special meeting of shareholders on July 29, 2019 (together with any adjournment or postponement thereof, the “Meeting”).  The Meeting will be held at the scheduled time at 10:00 a.m. (Toronto time), and shareholder votes on the election of directors, the approval of the Company’s auditors and the renewal of its Stock Option Plan will proceed as described in the Circular.

Additional information regarding the Meeting can be found in the Circular dated June 21, 2019, which was delivered to Kalytera shareholders and is available on the Company’s SEDAR profile.

About Kalytera Therapeutics

Kalytera Therapeutics, Inc. is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease and the treatment of acute and chronic pain.

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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 applicable regulatory approvals are not 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

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