TBP:CC - Tetra Bio-Pharma Announces Cease Trade Order
(TheNewswire)
MONTREAL, QUEBEC – TheNewswire – March 7, 2023 -- Tetra Bio-PharmaInc. ("Tetra" or the "Company") (TSX:TBP)(OTC:TBPMF) (FRA:JAM1), a leader in cannabinoid-derived drug discoveryand development announces that further to its press release datedMarch 1, 2023, the Ontario Securities Commission (OSC) notified theCompany that the Company’s application for a management cease tradeorder (MCTO) has been denied. The OSC has issued a failure-to-filecease trade order (FFCTO) against the Company which orders thatgeneral trading, whether direct or indirect, by any person, of thesecurities of the Company cease, which includes trading of the sharesof the Company on the Canadian Securities Exchange. The FFCTO has beenissued against the Company for failure to file its audited annualfinancial statements for the year ended November 30, 2022, andaccompanying management’s discussion and analysis (MD&A) on orbefore February 28, 2023.
In the March 1 news release, the Company announced it was now workingwith McGovern Hurley LLP. The Company would like to clarify that itsmanagement and board of directors are working expeditiously tofinalize an agreement with McGovern Hurley LLP to ensure thecompletion of the audit and filing of the Audited Financial Statementsbefore the end of April 2023. The Company will provide an update oncethe audit has begun and a target date for filing is determined.
The Company also confirms that there is no other material informationconcerning the affairs of the Company that has not been generallydisclosed as of the date of this press release. The Company expectsthe FFCTO to remain in place until such time as the Annual FinancialStatements have been filed and the FFCTO is revoked.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX: TBP) (OTC-PINK: TBPMF) (FRA:JAM1) is a leaderin cannabinoid-derived drug discovery and development with a FDA and aHealth Canada cleared clinical program aimed at bringing novelprescription drugs and treatments to patients and their healthcareproviders. Tetra's evidence-based scientific approach has enabled themto develop a pipeline of cannabinoid-based drug products for a rangeof medical conditions, including pain, inflammation, and oncology.With patients at the core of what they do, Tetra is focused onproviding rigorous scientific validation and safety data required forinclusion into the existing biopharma industry by regulators,physicians, and insurance companies.
Connect with Tetra: Email | Website | | | Instagram
Neither the TSX Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Forward-looking statements
Some statements in this release may contain forward-lookinginformation. All statements, other than of historical fact, thataddress 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 andfinancings) are forward-looking statements. Forward-looking statementsare 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 onthese words or comparable terminology. Forward-looking statements aresubject to a number of risks and uncertainties, many of which arebeyond the Company's ability to control or predict, that may cause theactual results of the Company to differ materially from thosediscussed in the forward-looking statements. Forward-lookingstatements in this news release include, among other things,statements about: the anticipated filing of the audited annualfinancial statements and the approval of the management cease tradeorder by the Ontario Securities Commission. Factors that could causeactual results or events to differ materially from currentexpectations include, among other things, without limitation, theinability of the Company to obtain sufficient financing to execute theCompany's business plan, competition, regulation and anticipated andunanticipated costs and delays, the success of the Company's researchand development strategies, including the success of this product orany other product, the applicability of the discoveries made therein,the successful and timely completion and uncertainties related to theregulatory process, the timing of clinical trials, the timing andoutcomes of regulatory or intellectual property decisions, the riskthat the anticipated benefits from the receipt of funds from theInvestor will not be realized as contemplated, or at all, and otherrisks disclosed in the Company's public disclosure record on file withthe relevant securities regulatory authorities. Although the Companyhas attempted to identify important factors that could cause actualresults or events to differ materially from those described inforward-looking statements, there may be other factors that causeresults 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 madeas of the date of this news release and the Company does not undertakean obligation to publicly update such forward-looking statements toreflect new information, subsequent events or otherwise unlessrequired by applicable securities legislation.
For further information, pleasecontact Tetra Bio-Pharma Inc.:
Ms. Natalie Leroux
Phone: + 1 (833) 977-7575
investors@tetrabiopharma.com
media@tetrabiopharma.com
SOURCE Tetra Bio-Pharma Inc.
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