CINCINNATI, OH, May 22, 2019– Callitas Health Inc.(CSE: LILY, OTCQB: MPHMF, FWB: T3F3), (the “Company” or “Callitas”), an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, announced it has completed its recently announced non-brokered private placement. The Company issued 3,856,333 units at a price of $0.075 per unit, for gross proceeds of $289,225. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at $0.10 for a period of two years from the date of closing. Securities issued pursuant to this financing are subject to trading restrictions until September 23, 2019.
The proceeds from the offering will be used for general working capital.
Concurrently with closing, the Company also paid finders fees consisting of $4,008 in cash, 239,067 shares and 292,507 two year warrants exercisable at $0.10.
The Company also wishes to update its situation in respect to a replacement auditor. While an audit firm has been identified, that firm has not yet formally accepted the position.
About Callitas Health: Formed in early 2015, Callitas Health Inc. is an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. In addition to its recent acquisitions of C-103, a reformulation of Orlistat, Extrinsa and assets from 40J’s LLC, the Company successfully launched ToConceive in North America as a clinically proven option for couples struggling with the inability to conceive (www.toconceive.com), and is in the research and development and business development process for its other OTC products, CannaMint strips and orphan drug technologies. For more information visit www.callitas.com.
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131
Investor Relations – Kevin McGrath, Managing Director
Phone: +1 (646) 418-7002
Notice regarding Forward Looking Statements:This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company’s biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com and the Company’s filings to the CSE at www.thecse.com. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices:CannaMint Strips, C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body. Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.