Tetra Bio-Pharma Inc.

Tetra Bio-Pharma Inc.

July 11, 2017 17:00 ET

Tetra Bio-Pharma Announces Results of Voting at Annual Shareholders' Meeting & Provides a Corporate Update

OTTAWA, ONTARIO--(Marketwired - July 11, 2017) - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (CSE:TBP)(CSE:TBP.CN)(CNSX:TBP)(OTCQB:TBPMF), is pleased to announce the results of the vote at its July 10, 2017 annual shareholders' meeting.

Resolution For Against Withheld Spoiled No Vote % For % Against % Withheld
André Rancourt 18,439,319 0 19,449 0 443,314 99.89 % 0.00 % 0.11 %
André D. Audet 18,439,304 0 19,464 0 443,314 99.89 % 0.00 % 0.11 %
Robert Brouillette 18,456,735 0 2,033 0 443,314 99.99 % 0.00 % 0.01 %
Dr. W.M. (Bill) Cheliak 18,456,750 0 2,018 0 443,314 99.99 % 0.00 % 0.01 %
Appointment of McGovern, Hurley, Cunningham, LLP, as auditors of the Corporation and to authorize the directors to fix the remuneration to be paid to the auditors. 18,884,340 0 17,742 0 0 99.91 % 0.00 % 0.09 %
The amendment of the Stock Option Plan from fixed to rolling. 18,282,545 176,222 0 0 443,315 99.05 % 0.95 % 0.00 %

At the meeting, some key corporate highlights which were discussed, included:

  • Tetra is the only pharmaceutical company to have clinical studies for smoked marijuana;
  • The Company is financially sound, with enough cash to pay for the $1.2 million Phase III clinical trials of PPP001. Preparations for the Phase III trial of PPP001 are to start in Q4 2017 with approximately 600 subjects;
  • Focused on expanding commercialization partnerships internationally for product pipeline - Interest has been shown from the USA, Germany, Ireland, Brazil and Mexico;
  • The initial demand forecasted in New Brunswick for PPP001 using the ACMPR license is more than what we expected for sales. We are now putting in place the necessary manufacturing capabilities to address this increasing demand and to ensure the highest standards of quality control. We will look at launching PPP001 using the ACMPR license by the end of summer. See press release announced April 17, 2017 for further information;
  • We are looking to start the Phase II clinical trials for PPP002 - Dronabinol XL in the next month; and
  • Investor outreach will be principally focused on the U.S. market going forward looking at targeting healthcare funds to potentially invest in Tetra. Communications strategy is to make very clear that Tetra is not a marijuana company but a pharmaceutical company.

About Tetra Bio-Pharma:

Tetra Bio-Pharma is a multi subsidiary publicly traded company (CSE:TBP)(CSE:TBP.CN)(CNSX:TBP)(OTCQB:TBPMF) engaged in the development of Bio Pharmaceuticals and Natural Health Products containing Cannabis and other medicinal plant based elements.

Tetra Bio-Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators physicians and insurance companies. More information is available about the company at: www.tetrabiopharma.com.

Source: Tetra Bio-Pharma

The Canadian Securities Exchange ("CSE") has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, 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.

Contact Information

  • Tetra Bio-Pharma Inc.
    Edward Miller
    Vice President, IR & Corporate Communications
    (514) 360-8040 Ext. 203