SAN FRANCISCO, CA and TORONTO, ON — (June 17, 2021) – Claritas Pharmaceuticals, Inc. (TSX VENTURE EXCHANGE: CLAS and OTC: KALTF) (the “Company” or “Claritas“) held its Annual General and Special Meeting of shareholders (the “Meeting”) today. A total of 214,011,801 common shares (representing approximately 30.5% of all issued and outstanding common shares of the Company) were represented at the Meeting. Shareholders of the Company (the “Shareholders”) voted in favor of all items of business put forth at the Meeting. The complete voting results for each item of business at the Meeting are presented below.
ELECTION OF DIRECTORS
Each of the three nominees listed in the Company’s Management Information Circular dated May 7, 2021, was duly elected as a Director of the Company until the next annual meeting of the Shareholders of the Company or until their successor is appointed. All of the nominee directors were members of the Board of Directors of the Company prior to the Meeting.
APPOINTMENT OF INDEPENDENT AUDITORS
The Company’s current auditors, BDO, were approved by the Shareholders to serve as the Company’s auditors for the fiscal year 2021.
RENEWAL OF STOCK OPTION PLAN
The Company’s Stock Option Plan was approved by the Shareholders, as required under the policies of the Toronto Venture Exchange (the ”TSXV”).
APPROVAL OF SHARE CONSOLIDATION
The Shareholders approved authorizing the Company’s board of directors to affect a consolidation of all 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, or such lesser number of pre-Consolidation Common Shares as may be accepted by the TSXV and approved by the Company’s Board, should the Board determine such consolidation to be in the best interests of the Company.
APPROVAL OF RETURN OF THE COMPANY’S GVHD PROGRAM TO THE FORMER SHAREHOLDERS OF TALENT BIOTECHS LTD. IN CONSIDERATION FOR RELEASE AND DISCHARGE OF DEBT
The Shareholders approved the transfer and sale to the former shareholders of Talent Biotechs Ltd. (“Talent”) of all assets of the Company’s program developing cannabidiol for the prevention and treatment of graft versus host disease (“GVHD”) in consideration for the release and discharge by the former shareholders of Talent of all existing obligations that the Company and its subsidiaries have to such former shareholders of Talent.
The complete voting results for each item of business at the Meeting are presented below.
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.
- Website Home: https://claritaspharma.com/
- News and Insights: https://claritaspharma.com/news/
- Investors: https://claritaspharma.com/investors/
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. Claritasundertakes 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.
Contact Information
Robert Farrell
President, CEO
(888) 861-2008
info@claritas.co