OTTAWA, ONTARIO--(Marketwired - March 9, 2017) - Tetra Bio-Pharma Inc. ("Tetra", "TBP" or the "Company") (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GRPOF), a biotechnology company specialized in the development and commercialization of Cannabis-based prescription drugs announced that the delay in legalization of marijuana does not affect its commercialization plans for 2017. AgroTek Health (AGT) for the over-the-counter self-care consumer markets is on schedule for the launch of its first Cannabis-derived (THC- and CBD-free) product in 2017.
Based on Tetra's experience in government affairs, the Company had anticipated delays in the legalization due to the complexity associated with this endeavour. Subsequent to this assessment, Tetra had initiated a plan to commercialize THC- and CBD-free Cannabis derived products. In addition, Tetra entered into a partnership with McGill University and Ford's Family Pharmacy and Wellness Centre to ensure timely commercialization of these products. Tetra is also discussing with several Licensed Producers to ensure a supply of Cannabis and or to enter into a partnership with AGT.
"Tetra is making tremendous progress in the execution of its strategy to become a leading biopharmaceutical company in developing and commercializing cannabis prescription drugs," said Mr. Andre Rancourt, CEO of Tetra Bio-Pharma Inc. "I am proud to report to shareholders that AGT is on schedule to bring cannabis-derived products to the OTC market after it strategically developed its commercialization plans to partner with Drs. Peter Ford and Stan Kubow after anticipating delays in the legalization of marijuana. We look forward to keeping shareholders updated on our future plans of strengthening Tetra into a bio-pharmaceutical organization."
All TBP partners and any future partners or suppliers of Cannabis will be subject to regular quality audits to ensure compliance with Canadian regulations and that the Cannabis raw material conforms to quality standards for an oral pharmaceutical product. The quality audit includes third party independent testing for impurities such as pesticides. All of these Licensed Producers will be subject to potential inspections by Health Canada's Inspectorate or the USA Food and Drug Administration. TBP and its partners recognize that this is part of the responsibility of bringing quality safe products to consumers.
In autumn 2016, TBP announced that it had entered into a partnership with Dr. Stan Kubow, School of Nutrition and Dietetics, McGill University after obtaining an NSERC ENGAGE grant for the development of proprietary Cannabis-extracts for the development and commercialization of nutritional and heath care supplements as well as topical natural products and cosmetics. In February 2017, Controlled Drug Substances, Health Canada, issued the exemption required for the development of these proprietary extracts. This innovative project is expected to deliver at least one commercial nutritional supplement later this year. AGT is also working with Ford's Family Pharmacy and Wellness Centre to commercialize one or more topical THC- and CBD-free products.
About Tetra Bio-Pharma:
Tetra Bio Pharma is a multi subsidiary publicly traded company (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GRPOF) 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.
The Canadian Securities Exchange ("CSE") has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
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.