Clariti to be PharmAla’s exclusive Long-Term Strategic Advisory and Investment Banking Partner
VANCOUVER, BC – November 8, 2023 - PharmAla Biotech Holdings Inc. (“PharmAla” or the “Company”) (CSE: MDMA) (OTC:PMBHF), a biotechnology company focused on the research, development and manufacturing of novel MDXX class molecules (including MDMA), is proud to announce that it has signed an exclusive long-term agreement (the “Partnership Agreement”) with Clariti Strategic Advisors Inc. (“Clariti”) of Toronto, pursuant to which Clariti will provide strategic advisory and investment banking services to the Company.
Clariti will provide advice to help PharmAla ensure that its long-term value to its stakeholders is at all times being considered and optimized. Clariti, its subsidiaries and sub-agents will also advise as needed on: (i) the raising of capital through strategic investments at the corporate or subsidiary/joint venture level, (ii) significant/strategic investments by PharmAla, (iii) joint venture arrangements, (iv) mergers and acquisitions, and (v) the negotiation of strategic customer licensing or supply agreements.
“As PharmAla develops the market for MDMA and our novel patented analogues in a number of different countries around the world, we need strong advisors who understand the global capital markets and M&A environment. We are proud to work with Clariti as our exclusive strategic advisor and investment banking partner moving forward,” said Nick Kadysh, CEO, PharmAla. “We believe this partnership will create significant opportunities for the Company as we expand and grow.”
“It’s a privilege and honour for us to be selected as PharmAla’s exclusive long-term advisor”, said Rahul Suri, Founder and Managing Partner of Clariti. “Under Nick Kadysh’s leadership, PharmAla is well on the way to become a best-in-class developer and manufacturer of novel MDXX class molecules, and we look forward to helping the Company create and enhance value for its stakeholders”.
In connection with Clariti’s engagement, the Company has issued Clariti: (i) 2,300,000 stock options (each an “Option”); and (ii) 2,300,000 restricted share units (each an “RSU”), pursuant to the Company’s Option plan and RSU plan, respectively.
Each Option is exercisable at a price of $0.175 per common share, expires ten years from the date of grant and vests only if there is, and prior to, a liquidity event (as such term is defined in the Partnership Agreement and excludes smaller capital raises).
Each RSU expires ten years from the date of grant and vests only, (i) if there is, and prior to, a liquidity event (as such term is defined the Partnership Agreement and excludes smaller capital raises), and (ii) upon the Company receiving shareholder approval for the creation of the RSU plan, and shareholders ratifying this RSU grant, at the next meeting of shareholders of the Company.
About Clariti
Clariti Strategic Advisors™ is an investment banking and strategic advisory firm that provides unsurpassed insight, creativity, integrity and value to its clients. For further information, please contact Rahul Suri, Founder and Managing Partner of Clariti, details at www.claritiadvisors.com.
PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials, and to develop novel drugs in the same class. PharmAla is a “regulatory first” organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America’s first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla’s research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas Medical School.
Nicholas Kadysh, CEO
press@pharmala.ca