REPEAT – Tetra Bio-Pharma Announces Pricing of Marketed Public Offering of Units
December 15 2021 - 8:57AM
Tetra Bio-Pharma Inc. ("
Tetra" or
the "
Company") (TSX: TBP) (OTCQB: TBPMF) (FRA:
JAM1), a leader in cannabinoid-derived drug discovery and
development, is pleased to announce the price of its marketed
public offering (the “
Offering”) of units of the
Company (the “
Units”) previously announced on
December 1, 2021. Pursuant to the Offering, the Company intends to
issue Units at a price of $0.163 per Unit for aggregate gross
proceeds of up to $6.8 million. The Offering is co-led by Research
Capital Corporation and Echelon Wealth Partners Inc. as co-lead
agents and joint bookrunners (the “
Agents”).
Each Unit will be comprised of one common share
of the Company (a "Common Share") and one Common
Share purchase warrant of the Company (a
"Warrant"). Each Warrant will entitle the holder
thereof to purchase one Common Share at an exercise price of $0.195
for a period of 48 months following the closing of the
Offering.
The Company has granted the Agents an option
(the “Over-Allotment Option”) to increase the size
of the Offering by up to an additional number of Units, and/or the
components thereof, that in the aggregate would be equal to
approximately 15% of the total number of Units to be issued under
the Offering, to cover over-allotments, if any, and for market
stabilization purposes, exercisable at any time and from time to
time up to 30 days following the closing of the Offering.
The net proceeds from the Offering will be used
by the Company for clinical trials, working capital and general
corporate purposes.
The closing of the Offering is expected to occur
on or about December 20, 2021 (the “Closing”), or
on such date as agreed upon between the Company and the Agents, and
is subject to the Company receiving all necessary regulatory
approvals, including the approval of the Toronto Stock Exchange
(the “Exchange”) to list, on the date of Closing,
the Common Shares and the Common Shares issuable upon exercise of
the Warrants and compensation warrants thereon. In addition, the
Company will use commercial reasonable efforts to obtain the
necessary approvals to list the Warrants on the Exchange as soon as
reasonably after the Closing.
In connection with the Offering, the Company
intends to file a prospectus supplement (the
"Supplement") to the Company’s short form base
shelf prospectus dated April 1, 2020 (the "Shelf
Prospectus"), with the securities regulatory authorities
in each of the provinces of Canada, except Quebec. Copies of the
Shelf Prospectus and, the Supplement to be filed in connection with
the Offering, can be found on SEDAR at www.sedar.com. The Shelf
Prospectus contains, and the Supplement will contain, important
detailed information about the Company and the Offering.
Prospective investors should read the Supplement and accompanying
Shelf Prospectus and the other documents the Company has filed on
SEDAR at www.sedar.com before making an investment
decision.
This press release is not an offer to sell or
the solicitation of an offer to buy the securities in the United
States or in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under
the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States or
to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from U.S. registration
requirements and applicable U.S. state securities laws.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX: TBP)
(OTCQB: TBPMF) (FRA:JAM1) is a leader in cannabinoid-derived drug
discovery and development with a FDA and a Health Canada cleared
clinical program aimed at bringing novel prescription drugs and
treatments to patients and their healthcare providers. Their
evidence-based scientific approach has enabled them to develop a
pipeline of cannabinoid-based drug products for a range of medical
conditions, including pain, inflammation, and oncology. With
patients at the core of what they do, Tetra Bio-Pharma is focused
on providing rigorous scientific validation and safety data
required for inclusion into the existing biopharma industry by
regulators, physicians and insurance companies.
For more information visit:
www.tetrabiopharma.com
For further information: please contact Tetra
Bio-Pharma Inc.:
Tetra Bio-Pharma Inc.Ms. Natalie LerouxPhone: +
1 (833) 977-7575Email: investors@tetrabiopharma.com,
media@tetrabiopharma.com
Neither the Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements
This news release contains certain statements
which constitute forward-looking statements or information under
applicable Canadian securities laws, including statements relating
to the expected size of the Offering, the anticipated timing of
closing the Offering, the ability of the Company to satisfy all
conditions to closing the Offering, and the expected use of
proceeds from the Offering. Such forward-looking statements are
subject to numerous known and unknown risks, uncertainties and
other factors, some of which are beyond the Company's control,
which could cause actual results or events to differ materially
from those stated, anticipated or implied in the forward-looking
statements. These risks and uncertainties include general economic
and capital markets conditions, stock market volatility, the
ability of the Company to obtain necessary consents for the
Offering, including the approval of the Exchange, and the ability
of the Company to complete the Offering on the terms expected or at
all. Although the Company believes that the forward-looking
statements in this news release are reasonable, they are based on
factors and assumptions, based on currently available information,
concerning future events, which may prove to be inaccurate. As
such, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to
future plans, operations, results, levels of activity or
achievements. The forward-looking statements contained in this news
release are made as of the date of this news release and, except as
required by applicable law, the Company does not undertake any
obligation to publicly update or to revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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