/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
OTTAWA, June 24, 2019 /CNW/ - Tetra Bio-Pharma
Inc. ("Tetra" or the "Corporation"), a
biopharmaceutical multifaceted corporation with its primary focus
in cannabinoid‑based drug discovery and development (TSX-V: TBP)
(OTCQB: TBPMF), is pleased to announce the price of its
marketed public offering of units of the Corporation (each a
"Unit") previously announced on June
19, 2019 (the "Offering"). The Offering will be
conducted at a price of $0.30 per
Unit.
Each Unit will consist of one common share in the capital of the
Corporation (each a "Common Share") and one Common Share
purchase warrant of the Corporation (each a "Warrant"). Each
Warrant will entitle its holder to acquire one Common Share by
paying an exercise price of $0.40 for
a period of 36 months from the date of closing the Offering.
Echelon Wealth Partners Inc. and Paradigm Capital Inc. will
conduct the Offering on a commercially reasonable best efforts
basis as the Corporation's agents for the Offering in each of the
provinces of Canada, except
Québec. The Units may also be offered for sale in the United States on a private placement
basis pursuant to an exemption from the registration requirements
of the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") and applicable state laws.
Closing of the Offering is expected to occur on or about
July 10, 2019. The Offering is
subject to a number of conditions, including, without limitation,
the entering into of a definitive agency agreement and receipt of
all regulatory approvals, including the approval of the TSX Venture
Exchange. There can be no assurance as to whether or when the
Offering may be completed, or as to the actual size or terms of the
Offering.
A copy of the preliminary prospectus (the "Preliminary
Prospectus"), which was filed in each of the provinces of
Canada, except Québec, contains
important information relating to the Offering and the Units, and
is available on SEDAR at www.sedar.com or by contacting Echelon
Wealth Partners Inc. at ecm@echelonpartners.com. The Preliminary
Prospectus is still subject to completion or amendment. There will
not be any sale or any acceptance of an offer to buy the Units
until a receipt for the final short form prospectus has been
issued.
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
any of the Corporation's securities to, or for the account or
benefit of, persons 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 multifaceted corporation with its primary focus
in cannabinoid-based drug discovery and development with a clinical
trial program aimed at bringing novel drugs and treatments to
patients and their healthcare providers. Tetra Bio-Pharma's
subsidiary, Tetra Natural Health, also focuses on the development
and commercialization of natural health and self-care products as
well as the sale of its hemp energy drinks.
For more information visit: www.tetrabiopharma.com and
www.tetranaturalhealth.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 news 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
relating to the Offering generally and the terms thereof) 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 risk that the Offering
may not be completed on favorable terms or at all, the risk that
the Corporation may not be able to obtain all necessary regulatory
and stock exchange approvals, including the approval of the TSX
Venture Exchange and other risks disclosed in the Corporation's
public disclosure record on file with the relevant securities
regulatory authorities. Reference is also made to the risks and
uncertainties disclosed under the heading "Risk Factors" of the
annual information form of the Corporation dated June 18, 2019 and of the Preliminary Prospectus,
both available under the Corporation's profile on www.sedar.com.
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