Claritas Announces Grant of Stock Options to Directors and Officers

Claritas Pharmaceuticals, Inc. (TSX VENTURE EXCHANGE: CLAS and OTC: KALTF) (the "

Company

" or "

Claritas

") announced that it granted stock options on July 23, 2021 to the directors and officers of the Company. The stock options have an exercise price of $0.51 per common share and expire ten years from the date of grant. One third of the options granted vested on July 23, 2021 and the remaining options will vest in twenty-four (24) equal monthly installments commencing August, 2021.

Stock options to purchase 50,000 common shares of the Company were granted to Prof. Salvatore Cuzzocrea, an independent member of the Company’s Board of Directors; stock options to purchase 50,000 common shares of the Company were granted to Perenlei Enkhbaatar, M.D., an independent member of the Company’s Board of Directors; stock options to purchase 155,098 common shares of the Company were granted to Victoria Rudman, the Company’s CFO; and stock options to purchase 1,768,792 common shares of the Company were granted to Robert Farrell, J.D., the Company’s Chairman, President and CEO.

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/
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• Investors: https://claritaspharma.com/investors/

Cautionary StatementsNeither 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 with respect of the Consolidation, the Consolidation’s effect on securityholders of the Company, regulatory approval of the Consolidation, the payment of shares for services, and other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions, whether referred to in this news release and any other document referenced in this document. 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 such that it may affect whether the Consolidation will be completed or if so completed as currently contemplated, the Consolidation’s effects on securityholders, whether any service provider may request payment in securities of the Company, and whether the Company will receive the required regulatory approval for the Consolidation or payment of securities for services provided to the Company. Claritas undertakes 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 Consolidation has not yet been affected and the Company believes that it will affect the Consolidation subject to regulatory compliance as soon as practicable after this news release. The Company’s mentioned arrangement to pay shares for services is subject to TSXV approval. 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 InformationRobert FarrellPresident, CEO(888) [e-mail]