OTTAWA, ON, Nov. 2, 2020 /CNW Telbec/ - Tetra Bio-Pharma
Inc. ("Tetra" or the "Company") (TSX: TBP)
(OTCQB: TBPMF) is pleased to announce that on October 27, 2020, it acquired 14,625,000 common
shares (the "Acquired Shares") of Mondias Natural
Products Inc. ("Mondias"), a corporation with its head
office at #26 – 4500 Kimber Boulevard Saint-Hubert, QC, J3Y 8K5. The Acquired Shares
were acquired by Tetra in connection with the previously announced
divesture of Tetra's former subsidiary, Lumiera Health Innovation
Inc. (the "Target"), pursuant to which Mondias has acquired
all of the common shares of the Target for a purchase price of
CAN$1.3 million (the "Lumiera Transaction"). The
portion of the purchase price for the Lumiera Transaction payable
to Tetra was paid through the issuance of the Acquired Shares.
Tetra did not hold any securities in the capital of Mondias
prior to the date of the Lumiera Transaction. The Acquired Shares
represent approximately 14.8% of the issued and outstanding shares
of Mondias following the closing of the Lumiera Transaction.
Tetra has acquired the Acquired Shares for investment
purposes and may acquire further securities of Mondias or dispose
of its holdings of common shares of Mondias, both as investment
conditions warrant. The common shares of Mondias are listed on the
TSX Venture Exchange under the symbol "NHP".
Tetra's head office is located at 2316 St-Joseph Blvd.,
Orleans, ON, K1C 1E8. For further
information please contact Jean-François Boily, Chief
Financial Officer of Tetra, at jfboily@tetrabiopharma.com.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX:TBP) (OTCQB:TBPMF), is a
biopharmaceutical leader in cannabinoid-based drug discovery and
development with FDA and Health Canada approved clinical programs
aimed at bringing novel prescription drugs and treatments to
patients and their healthcare providers. Our evidence-based
scientific approach has enabled us 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 we 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
Neither the TSX Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX 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 Company
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
Company's ability to control or predict, that may cause the actual
results of the Company 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 inability of
the Company to obtain sufficient financing to execute the Company's
business plan; competition; regulation and anticipated and
unanticipated costs and delays, the success of the Company's
research and development strategies, including the success of this
product or any other product, the applicability of the discoveries
made therein, the successful and timely completion and
uncertainties related to the regulatory process, the timing of
clinical trials, the timing and outcomes of regulatory or
intellectual property decisions and other risks disclosed in the
Company's public disclosure record on file with the relevant
securities regulatory authorities. Although the Company 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
Company 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.