Callitas Announces New Interim CEO and Refiling of Quarter 2 Interim Financial Statements
Vancouver, BC (FSCwire) - Callitas Health Inc. (CSE: LILY, OTCBB: MPHMF, FWB: T3F2), (the "Company" or “Callitas”) a clinical-stage company developing innovative technologies for weight management and female health and wellness, today announced that Gary Thompson is temporarily stepping down as President & CEO due to ongoing health issues. James Thompson, the current Chief Operating Officer, was appointed by the Board of Directors as Interim President & Chief Executive Officer effective immediately.
Mr. Thompson has a Bachelor’s of Science in Biomedical Engineering and a double major in Finance from Washington University in St. Louis, MO and an Executive MBA from Xavier University in Cincinnati, OH. He has multiple granted and pending patent applications and has managed the development, testing, production and distribution of all types of healthcare products worldwide over the last 18 plus years. Mr. Thompson was previously the Managing Member at 40 J’s LLC, the private healthcare development corporation whose primary assets were acquired in early 2017 by Callitas Therapeutics.
“I hope that Gary Thompson recovers fully and quickly, he is a great asset to Callitas; I look forward to the challenges and opportunities we have ahead of us. From the recent launch and continuing expansion of the ToConceive and other OTC products to the research and development of the C-103, the Extrinsa, the Orphan Drug and the Cannamint technologies, we have a number of positive initiatives that should create increased value for our shareholders in 2018 and beyond.” said James Thompson.
“James has been an integral part of running the business and will provide great leadership during this period when Gary manages his health priorities. This is a very exciting time for Callitas and we look forward to the continued advancement of the company objectives with James in this role.” stated Bill Rodgers, Board Member.
Financial Statement Revision & Refiling:
Upon request by the BCSC, Callitas Health, Inc will be revising and refiling the Interim Quarter 2 Financial Statements and associated MD&A. The changes requested are due to the reporting of the 40 J’s LLC acquisition and the changes of share capital reporting. It is to be noted that there was a change in CFO in late July, and the discrepancies were not noted until after the Q2 Financial Statements and MD&A were filed. These statements should be updated and re-filed by January 20, 2018.
About Callitas Health
Formed in early 2015, Callitas Health Inc. is a clinical-stage company developing innovative technologies for obesity, weight management and female health & wellness. 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.
Callitas Health Inc. trades on the Canadian Securities Exchange (CSE) under the ticker symbol “LILY” as well as on the OTCQB as “MPHMF” and FWB (Frankfurt Stock Exchange) as “T3F2.”
For more information contact:
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131
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.cnsx.ca. 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.
To view this press release as a PDF file, click onto the following link:
Source: Callitas Health Inc. (CSE:LILY, OTCQB:MPHMD, FWB:T3F3)
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