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Kalytera Therapeutics Inc. (OTCMKTS:KALTF) In Need of Cash To Offset Milestone Payments Obligation

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Kalytera Therapeutics Inc. (OTCMKTS:KALTF) has had to venture into the debt market in a bid to raise much-needed funds to pay off milestone payments owing to the acquisition of certain programs from Talent Biotech’s Limited. Early last year, the development CBD therapeutics company got access to some programs through the purchase of Talent.

Milestone Payments Obligation

Under the terms of the agreement with former Talent Shareholders, the company was required to make certain contingent payments upon achievement of certain milestones such as the issuance of essential patents.

In April, the United States Patent and Trademark Office issued a patent covering the use of CBD for the treatment of severe and refractory GVHD. In May, the agency also issued another license covering the use of CBD for the prevention and treatment of chronic forms of GVHD.

With the issuance of the two patents, Kalytera Therapeutics is obligated to make payments to the former Talent Shareholders as part of the agreement agreed last year. The CBD therapeutics company is now required to make payments of up to $2 million for each patent which amounts to a total payout of $4 million.

Kalytera Offering

Kalytera has so far paid $50,000 to the former shareholders. In a bid to raise the remaining finances the company is currently marketing units made up of the company’s common share and purchase warrant. Each unit on offer is priced at $0.11 with the company optimistic of raising between $3 million and $10 million as part of the offering. Echelon Wealth Partners has been tasked with the responsibility of conducting the offering.

The company is obligated to make a minimum payment of $1.5 million upon closure of the ongoing offering, which is set to close on July 31, 2018. The company has reached an agreement with the former Talent Shareholders to defer a portion of the milestone payments.

Kalytera has been a disappointment for the better part of the year having already shed more than 70% in market value in the market. The stock is currently trading in a downtrend and dire need of new catalysts if it is to bottom out from current lows.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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BUSINESS

BRANDED LEGACY (OTCMKTS: BLEG) Admits Witnessing Growth With Its New Distribution Partner

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BRANDED LEGACY (OTCMKTS: BLEG) recognizes the contribution of California High Beverages to its business, pointing to the distribution partner as the one that has placed the largest order so far. The close collaboration between Elev8 Hemp and the California High Beverages will make it possible to serve customers with the CBD Infused Iced Teas as soon as possible.

The Covid-19 impact on business

 It admits that the outbreak of the Covid-19 affected most businesses, but it is impressed with the massive growth that the distribution partners experienced. For instance, California High Beverages ordered the Elev8 Hemp CBD Infused Iced Teas in massive amounts. Reports show that order as being six times larger than the previous order. In addition, the splitting of the order will be such that it will go to three different territories, namely Texas, California, and Illinois.

The CEO of California High Beverages, Mike Dub, opines, “We anticipate putting Elev8 Hemp in at least 200 retail accounts by the end of the summer. We have already placed them coast to coast in about 50 accounts, and they have been well received with many reorders placed. We look forward working with Elev8 Hemp to further this brand’s presence across the USA!”

Nichols speaks out

Vice President of Branded Legacy Matthew Nichols applauds California High Beverages for the efforts it has been making towards the expansion of its reach. He is pretty impressed with how they have been cooperating all along and the outcomes of their efforts. But, of course, the retail outlets on a nationwide scale have been the main recipients of the efforts considering the easy access to products. As a result, the sales have grown massively, which has always been the aim right from the start.

Elev8 Hemp puts customers first, and that is why it wants to continue channeling resources to ensure that they enjoy top-quality organic hemp products. The customers will enjoy many healthy proteins that will give them a great feeling and make them feel more energetic.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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BUSINESS

Alumifuel Power Corp (OTCMKTS: AFPW) Retains a New Transfer Agent, Clear Trust LLC

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Alumifuel Power Corp (OTCMKTS: AFPW) recently announced it is retaining Clear Trust LLC as the company’s new transfer management. Alimfuel’s Chief Executive Officer and President, Mr. Pedro, made the announcement. This will help Alimfuel fulfill the regulatory obligations it has with its shareholders. In addition, clear Trust LLC will be the company’s new Transfer Manager when it comes to the Fully Reporter Issuer tasks. Clear Trust will be very important when helping assist Alimfuel in providing reliable data to achieve the goal.

Once this is done, Alimfuel won’t be listed in the list of companies of TD Ameritrade anymore. This means that it will be able to make OTC Market trades. The company firmly believes that Ameritrade might have misled investors by including its name in that list, yet they had always been fully transparent with the SEC regulators. Alimfuel Power will make further announcements stating how they’re doing so far. Management is confident, and reports will be provided way before the Securities and Exchange Commission deadline, September 28, 2021.

Alimfuel is still assessing the businesses that control its Tangible and Physical Assets associated with Clean Energy, specifically regarding Hydrogen. The company recognizes how important it is to present correct Financial Statements, and it’s working on presenting them to both the SEC and the OTC Market.

Alumifuel Power Corporation and Dinatrum Inc

Alimfuel Power Corp is known for commercializing unique IP (Intellectual Property) for high-performance, high-demand Commercial and Military Applications, focusing on Hydrogen Technology). In addition, Alimfuel Power Corp’s wholly-owned subsidiary, DINATRUM, develops Green Real Estate Projects.

ClearTrust is a full-service, award-winning transfer management service that serves both private and public companies, as well as community banks. ClearTrust provides robust shareholder compliance and record-keeping services to growing issuers. Some of these services include solving unique issuer problems, proxy administration, DRIP maintenance, corporate action processing, paying agent services, compliance support, and online account access. 

The company’s founders are motivated to develop positive securities differences rooted in integrity, helpfulness, and decency. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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BUSINESS

Constellation Brands Inc (NYSE: STZ) Announced a $1 Billion Public Offering Price of 2.250% Senior Notes

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Constellation Brands Inc (NYSE: STZ) is a top alcohol beverage firm that recently announced its $1.0 billion public offering price of 2.250% senior notes, which is due in 2031 for a priced public offering of around 99.555% of the notes’ principal amount. These notes will be classified as senior obligations, equal to the several other senior unsecured indebtedness. Offering close is expected to happen by July 26, 2021.

This leading global marketer and producer of spirits, wine, and beer operates in Italy, New Zealand, Mexico, and the United States. The company’s portfolio includes Modelo Negra, Modelo Especial, Coroner Premier, Corona Light, Corona Extra, Pacifico, Meiomi, Kim Crawford High West Whiskey, Casa Noble Tequila, and SVEDKA Vodka. They also house the Robert Mondavi brand family as well as the Prisoner brand family.

The company plans to use the offering’s net proceeds to redeem its outstanding 2.7% senior notes, which are due in 2022. These are for general business purposes, which can sometimes include repaying near-term debt maturities, as well as a $500 million aggregate principal amount. 

2018 Press Release

In 2018, the company announced a $2.15 public offering price of Senior Notes. This consisted of Senior Floating Rate Notes of $650 million which was due this year, Senior Notes of $500 million due in 2025 for a 99.812% public offering price of the 2025 notes’ principal amount, 4.65% Senior Notes of $500 million, which are due in 2028 for a 99.72% public offering and lastly 5.25% Senior Notes of $500 million due in 2048 for a 99.592% public offering price. The notes were classified as senior obligations that were to equally rank with all the company’s other senior unsecured indebtedness. This was also to be guaranteed by the company’s other subsidiaries, which are also guarantors. 

These past figures show how the prices have dropped this year. The company might not be able to meet all the expected figures.

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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