Connect with us

BUSINESS

Kalytera Therapeutics Inc (OTCMKTS:KALTF) Terminates LOI To Acquire Stero Biotechs, Ltd

Published

on

Kalytera Therapeutics Inc (OTCMKTS:KALTF) has terminated the previously signed Letter of Intent to take over Stero Biotechs, Ltd. Chief Executive Officer and President of Kalytera said the company will explore opportunities to acquire other companies, diversify and expand its operations despite canceling the LOI to acquire Stero Biotechs.

Kalytera and former shareholders of Talent Biotechs Ltd, a subsidiary of Kalytera, have earlier agreed to extend the maturity date of the promissory note to May 15, 2020. The company expected to complete the takeover of Stero by May 15, 2020. However, Kalytera has canceled the takeover of Israel based Stero, which develops CBD for co-administration with steroids and mitigate the safety issues.

Status of annual financial statements

The securities administrators in Canada on March 18, 2020, have granted a 45-day extension for periodic filings, which are due on or before June 1, 2020, because of coronavirus crisis. According to this notice, the BC Securities Commission endorsed BC instrument 51-515, and the Alberta Securities Commission has enacted 51-517, the temporary extension from certain financial requirements. Also, the Ontario Securities Commission has endorsed Ontario Instrument 51-502, which provides a temporary extension for certain financial requirements.

Receives extension to file financial statements

As a result of these temporary extensions, Kalytera can submit the audited financial statements for the year 2019 and quarterly results for the quarter ending March 31, 2020, within 120 days and 60 days. The company also received an extension to submit the management discussion and analysis for the year 2019 and the interim period within 120 days and 60 days, respectively, as per section 5.1(2) of NI 51-102. Kalytera is in discussions with auditors and expects to complete filings on or before June 24, 2020.

Amends irrevocable selling agreement 

Kalytera amended the sale period as required by the irrevocable sale agreement between its broker and Salzman Group for its common shares. As per the amended accord, its broker will sell the shares, which are previously issued to Salzman Group, in ten trading sessions instead of five trading days. Kalytera has issued common shares (each at CAD 0.05) worth $300,000 to Salzmon Group under the payment accord for certain services.

BUSINESS

Skylight Health Group Inc (OTCMKTS:SHGFF) Inks A Deal With A Leading Clinical Research Group – ClinEdge

Published

on

Skylight Health Group Inc (OTCMKTS:SHGFF) signed a deal with ClinEdge in April 2021. The deal allows the company to offer sponsored trials to Massachusetts-based primary care practices.

Besides promoting clinical research, the pact shows the value of the diversity of Skylight in healthcare services in the US.

Full suite of services

With more than 10 years of experience in partnering clinical research (CR) sites with research sponsors, ClinEdge offers a full suite of support services for the clinical research institutions, sponsors, and CROs.

Its main target is developing and improving service lines at affordable rates besides ensuring accuracy and timeliness of administering CR. The company’s established relationships with Clinical Research Organizations (CROs) and industry sponsors promote the successful generation of leads for clinical trials.

The company closely works with CR sites to receive CR trials from reputed and experienced industry sponsors. CR Manager of Skylight, Alisha Garibaldi, said entering pacts with partners like ClinEdge shares its vision on promoting quality CR that benefits the patients and improves its growth. It also ensures the growth of the healthcare systems in the US on a large scale.

He further said the company is excited to enter a deal with ClinEdge, which provides unparalleled experience in the CR.

The experience of ClinEdge allows the teams at Skylight to engage in CR trials that investigate a wide gamut of indications beginning with Massachusetts-based clinical sites. It allows Massachusetts-based patients to participate in clinical trials and enjoy new therapies, vaccines, and treatments.

Contributes to the medical sciences community

Skylight, which knows the value of clinical research, intends to offer the best care to its patients besides contributing to the medical sciences community at large. After achieving success at Massachusetts CR, the company intends to replicate the same across the US by expanding partnerships.

The clinical trial opportunities that ClinEdge will bring comprise post-traumatic stress disorder, COVID-19, arthritis, diabetes, and hypertension. Skylight will offer trial opportunities to its existing patients and individuals interested in taking part in the CR.

Skylight will earn up to $15,000 for each patient trial. It will offer a stipend to the patients who took part in the clinical trial for their efforts and time.

Skylight will report Q4 2020 and full-year earnings on April 20, 2021.

Continue Reading

BUSINESS

Can B Corp (OTCMKTS:CANB) Takes Over Talents And Assets Of Hemp Derivative Development And Manufacturing Group

Published

on

Can B Corp (OTCMKTS:CANB) took over a hemp derivative development/ manufacturing group’s talent and assets. Botanical Biotech LLC, its newly created subsidiary, will be its R&D and extraction facility based in Florida.

Can B will use Botanical Biotech, which President – Bradley Lebsock will be headed for developing and implementing its innovative pharmacokinetics technology. Botanical Biotech will also partner with emerging and global brands in developing innovative products/ solutions for wellness benefits.

Botanical Biotech engages in optimizing plant-based formulations to provide bioactive compounds and offers a consistent experience for the consumers in the long term. It will improve the solubility and absorption of bioactive compounds using various strategies.

Botanical Biotech’s expertise allows manipulating the molecules and offering economic formulations together with articulating the distinct value propositions of a formula using its communications and marketing teams.

Expertise in extracting hemp isolate

The Botanical Biotech team is experienced in extracting hemp isolate into CBN, CBG, and other cannabinoids. CBG and CBD are non-intoxicating cannabinoids and provide anti-inflammatory effects to your body. They will not create any high and offers only health benefits.

The CEO of Can B, Marco Alfonsi, said the company is thrilled to bring Bradley’s team under one umbrella and use their scientific approach to develop innovative products besides the existing products. Botanical Biotech’s science-based technology and product development expertise help Can B’s proprietary brands as well as Pure Health Products manufacturing facility based in WA.

Mobilizes $2.8 million

Can B generated $2.8 million cash through a debt financing deal from an institutional investor. The company will use these funds to pay all the convertible notes outstanding as of today. It will also use a certain portion of the funds and Reg A offering for working capital needs to promote growth in 2021.

Can B has started its operations in 2021 with an enhanced zeal. The company developed a vertically integrated platform to control its products from seed-to-sale offering high-quality products to the consumers in the previous year.

Its Pure Health Products expects to achieve GMP certification in Q1 2021. Pure Health Products also secures new white label clients.

Continue Reading

BUSINESS

Tinley Beverage Company Inc (OTCMKTS:TNYBF) Ships First Batch Of Third Party Products From Its Long Beach, California Based Facility

Published

on

Tinley Beverage Company Inc (OTCMKTS:TNYBF) shipped its first batch of third-party products manufactured at its Long Beach, California-based facility. Also, a leading cannabis and cannabidiol beverage brand – Good Stuff Beverage Co will move its natural tonics production to Tinley’s facility.

Good Stuff’s classic flavors comprise a new and terpene-infused formula. It will demonstrate the launch of high dose and strain-specific tonic.

Its product line comprises the Original Honey Lemonade, Sativa Energy, and Indica Calm. Consumers can use a resealable bottle cap to take an exact dose and sip easily.

President (West Coast USA) of Tinley, Rick Gillis, said any company usually faces challenges in manufacturing fruit-infused drinks while ensuring shelf stability and quality. Its team of food process and quality experts and specialized production equipment will play a vital role in delivering the required stability and consistency for this fruit-derived brand.

The cannabis community in California has well-accepted the products of Good Stuff. Therefore, they will love to receive enhanced formula-based products from Good Stuff.

Co-founder of Good Stuff, Daniel Grim, said Good Stuff Beverages is an excellent Tinley value proposition. The custom-built equipment and talented team of Tinley will help Good Stuff in its scalability.

Distribution boost through retail in Alberta

Tinley said its product distribution continues to improve through enhanced retail stores in Alberta. It also receives requests from provincial buyers for cannabis products.

According to a communiqué from local agents, the company received commitments or listings for its ready-to-drink cocktails and Beckett’s non-alcoholic spirits at 30 retailers across Alberta. The company is excited to receive reorders within one week of the initial listings.

Raises $850,000

Tinley raised a capital of $850,000 through a non-brokered private placement of 2.125 million units at $0.40.

Manufactures zero-calorie sparkling drinks

Tinley is pleased to announce that its Long Beach facility will manufacture Calexo’s four preservative-free juice beverages and zero-calorie sparkling drinks.

Innovative cannabis blended sparkling waters, which are branded as Watercolors, will be blended with 5mg THC and natural botanicals in a 12oz bottle. It is developed for those looking to replace alcohol.

Continue Reading

Trending Stories