Callitas Health, Inc. Announces Corporate Update

CINCINNATI, OH / ACCESSWIRE / September 18, 2018 / Callitas Health Inc. (CNSX: LILY, OTCQB: MPHMF, FSE: T3F3), (the "Company" or "Callitas"), an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, today announced that it has been notified by the British Columbia Securities Commission of regulatory deficiencies for the second quarter ended June 30, 2018. A cease trade order was issued for failure to file the second quarter financial statements and report, as well as the management disccussion and analysis prior to August 30, 2018.

Callitas has been in contact with the British Columbia Sercurities Commission and is working diligently to file all outstanding documents in order to fully comply with the Commission's filing requirements. Callitas is required to submit all documents by September 30, 2018, to have the cease trade order lifted.

"Due to a series of unexpected personal family issues within the Thompson family, including the passing of our former President and CEO, Gary A. Thompson, we have been unable to finalize our required quarterly documents with the Commission," said Callitas CEO, James Thompson. "The Callitas management team has every intention of meeting this filing obligation. The management team has been finalizing our corporate reporting documents and expect to fulfill the Commission's requirements. In addition, we are preparing to report our second quarter financial results and earnings, as well as provide a detailed shareholder report shortly after September 30, 2018, to further our reporting standards and corporate transparency. We intend to file all future regulatory documents according to the Commission's schedule."

About Callitas Health: Formed in early 2015, Callitas Health Inc. is an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. 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), and is in the research and development and business development process for its other OTC products, CannaMint strips and orphan drug technologies. For more information visit www.callitas.com.

Contacts:

Callitas Health:
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131

TraDigitalIR:
Investor Relations - Kevin McGrath, Managing Director
Phone: +1 (646) 418-7002

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.thecse.com. 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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.

SOURCE: Callitas Health Inc.