ORLEANS, ON, June 12, 2018 /CNW Telbec/ - Tetra
Bio-Pharma Inc. ("Tetra" or
the "Corporation") (TSXV: TBP) (OTCQB: TBPMF), a global
leader in cannabinoid-based drug development and discovery, wishes
to announce that Mr. André Rancourt has advised the Corporation
that he will not stand for re-election to the board of directors of
the Corporation due to other private business obligations to which
he needs to devote his time and attention. The Corporation hereby
wishes to withdraw his nomination for election as a director at the
upcoming annual meeting of shareholders of the Corporation
scheduled to be held on June 19, 2018
(the "Meeting"). Mr. Rancourt will remain as director of the
Corporation to complete his current term, which expires at
the Meeting, but will not stand for re-election.
Mr. Guy Chamberland, interim
Chief Executive Officer of the Corporation, stated: "On behalf of
the Corporation, I wish to express our sincere gratitude to André
Rancourt for his many years of service and for the excellent
contributions that he made to the Corporation while serving as CEO,
Director and most recently as Executive Chairman of the
Corporation. While we understand André's motivation for not
standing for re-election, he remains a committed and important
shareholder".
The Corporation also became aware of an inadvertent error in the
management information circular of the Corporation dated
May 22, 2018 and filed on SEDAR on
May 25, 2018 in respect of the
Meeting (the "Circular"). On page 5 of the Circular,
the number of common shares of the Corporation ("Common
Shares") owned or controlled by Mr. André Rancourt was
incorrectly stated to be 1,615,000 Common Shares. Tetra wishes to
clarify that Mr. Rancourt has not sold any Common Shares and
continues to own or exercise control over 6,585,436 Common Share.
While Mr. Rancourt will not stand for re-election as director of
the Corporation, he will remain an important shareholder of the
Corporation and will continue to support the continued success of
the Corporation.
The Corporation also wishes to announce that it has filed an
amended and restated management information circular, including the
notice of the Meeting, with respect to its Meeting (the "Amended
Circular"). The Amended Circular replaces and supersedes the
Circular. The Amended Circular has been amended to reflect the fact
that Mr. Rancourt will not stand for re-election at the Meeting,
and to make other consequential amendments.
Except as described above, the A&R Circular remains
unchanged from the Original Circular that was mailed to the
shareholders of the Company and previously filed on SEDAR. A copy
of the Amended Circular is available on SEDAR at www.sedar.com.
About Tetra Bio-Pharma:
Tetra
Bio-Pharma (TSX VENTURE: TBP)(OTCQB: TBPMF) is a
biopharmaceutical leader in cannabinoid-based drug discovery and
clinical development. Tetra is focusing on three core business
pillars: clinical research, pharmaceutical promotion and retail
commercialization of cannabinoid-based products. More information
at: www.tetrabiopharma.com
Neither the 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.
Forward-looking statements
Some statements in this
release may contain forward-looking information. All statements,
other than of historical fact, that address activities, events or
developments that the Corporation believes, expects
or anticipates will or may occur in the future (including, without
limitation, statements regarding potential acquisitions and
financings) are forward-looking statements. Forward-looking
statements are generally identifiable by use of the words "may",
"will", "should", "continue", "expect", "anticipate", "estimate",
"believe", "intend", "plan" or "project" or the negative of these
words or other variations on these words or comparable terminology.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which are beyond the
Corporation's ability to control or predict, that may
cause the actual results of the Corporation to differ
materially from those discussed in the forward-looking statements.
Factors that could cause actual results or events to differ
materially from current expectations include, among other things,
without limitation, the failure to obtain sufficient financing to
execute the Corporation's business plan; the success
of the Rx PrincepsTM product offering and inhalation
device; guidance on expected sales volumes associated with the Rx
PrincepsTM product offering and inhalation device;
competition; regulation and anticipated and unanticipated costs and
delays, and other risks disclosed in the
Corporation's public disclosure record on file with the
relevant securities regulatory authorities. Although the
Corporation has attempted to identify important factors
that could cause actual results or events to differ materially from
those described in forward-looking statements, there may be other
factors that cause results or events not to be as anticipated,
estimated or intended. Readers should not place undue reliance on
forward-looking statements. The forward-looking statements included
in this news release are made as of the date of this news release
and the Corporation does not undertake an obligation
to publicly update such forward-looking statements to reflect new
information, subsequent events or otherwise unless required by
applicable securities legislation.
SOURCE Tetra Bio-Pharma Inc.