/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR
FOR DISSEMINATION IN THE UNITED
STATES/
ORLEANS, ON, Jan. 27, 2020 /CNW Telbec/ - Tetra
Bio-Pharma Inc. ("Tetra" or the "Company") (TSX
VENTURE: TBP) (OTCQB: TBPMF) a global leader in cannabinoid-based
drug development and discovery, announced today that it has entered
into a revised agreement with Echelon Wealth Partners Inc. (the
"Underwriter"), pursuant to which the Underwriter will
purchase, on a bought deal basis pursuant to the filing of a short
form prospectus, an aggregate of 29,245,300 units (the
"Units") of the Company at a price of $0.53 per Unit (the "Offering
Price") for aggregate gross proceeds of $15,500,009 (the "Offering").
Each Unit will consist of one common share (a "Common
Share") in the Company and one warrant (a "Warrant"
and collectively the "Warrants"). Each Warrant will entitle
the holder thereof to acquire one Common Share at a price of
$0.75, for a period of 36 months from
the Closing Date.
The Company has agreed to grant the Underwriters an
over-allotment option to purchase up to an additional 4,386,795
Units at the offering price, exercisable for a period of 30 days
after closing. If the over-allotment option is exercised in full,
the gross proceeds from the Offering will be approximately
$17,825,010.
The Company intends to use the net proceeds of the Offering to
continue the development of its clinical program aimed at bringing
novel drugs and treatments to patients and their healthcare
providers, and for working capital and general corporate
purposes.
The Offering will be completed by way of a short form prospectus
to be filed in all provinces of Canada and on a private placement basis in
the United States pursuant to
exemptions from the registration requirements of the United
States Securities Act of 1933, as amended (the "U.S.
Securities Act").
The Offering is expected to close on or about February 13, 2020 and is subject to customary
closing conditions including, but not limited to, the approval of
securities regulatory authorities and the TSX Venture
Exchange's approval.
The securities described herein have not been, and will not be,
registered under the U.S. Securities Act or any state securities
laws, and accordingly, may not be offered or sold within
the United States except in
compliance with the registration requirements of the U.S.
Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities in the United States,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX-V:TBP) (OTCQB:TBPMF) is a
biopharmaceutical leader in cannabinoid-based drug discovery and
development with a Health Canada approved, and FDA reviewed,
clinical program aimed at bringing novel prescription drugs and
treatments to patients and their healthcare providers. The Company
has several subsidiaries engaged in the development of an advanced
and growing pipeline of Bio Pharmaceuticals, Natural Health and
Veterinary Products containing cannabis and other medicinal
plant-based elements. 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
bio pharma industry by regulators, physicians and insurance
companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
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, including statements regarding the intended use of
proceeds of the Offering and the closing date of the Offering. 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.