Kalytera Announces Private Placement of Common Shares and Common Share Purchase Warrants

SAN FRANCISCO, July 15, 2020 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTC: KALTF) (the "Company" or "Kalytera") announces that it has received conditional approval from the TSX Venture Exchange ("TSXV”) and partial revocation orders from the British Columbia and Ontario Securities Commissions granted today (the “Order”) to commence its offering to raise up to approximately $485,000 in a non-brokered private placement of units (the “Private Placement”). The Private Placement is open to only accredited investors in Canada, and accredited investors in the United States.

Pricing of Units – Private Placement to Close July 22, 2020
The Company is offering up to approximately $485,000 of units at a price of $0.015 per unit in the Private Placement. The Private Placement will close on July 22, 2020.

Trading Halt
On June 22, 2020, the British Columbia Securities Commission (the “BCSC”) issued a Failure-to-File Cease Trade Order against the Company (the "FFCTO") due to the Company's failure to file by the prescribed filing deadlines its annual financial statements for the year ending December 31, 2019, and the accompanying Management’s Discussion and Analysis and certifications, (the “Filings”). Please refer to the Company’s press release of June 30, 2020 for more details. The Company has been granted the Order to commence the Private Placement as an exception to the FFCTO. The Company is working with its auditors, Ernst & Young, to complete the Filings, and anticipates that final approval and posting of the Filings on www.sedar.com will be completed soon. Upon filing of the Filings, the Company will apply to have the FFCTO fully revoked. The Company expects that the FFCTO would be removed prior to the expiration of the customary hold period for private placement offerings that affect all issuers, in which case investors would not be subject to any hold periods beyond what is expected for all private placements.

Purpose of the Private Placement
The Company is raising funds in the Private Placement primarily for the purpose of paying audit and accounting fees that must be paid so that the Company can file its annual financial statements for the year ending December 31, 2019 and the accompanying Management’s Discussion and Analysis and related CEO and CFO certifications (collectively, the “Annual Filings”). Upon filing the Annual Filings, the Company will apply to have the FFCTO revoked, so that trading in the Company's shares on the TSXV will resume.