TBP:CC - Tetra Bio-Pharma Inc. Announces a Delay in Filing 2022 Annual Financial Statements and Related Management's Discussion and Analysis
(TheNewswire)
MONTREAL, QUEBEC – TheNewswire– March 1, 2023 -- Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP)(OTC-PINK: TBPMF) (FRA: JAM1), a leader in cannabinoid-based drugdiscovery and development, announced today that it will not be in a position tofile its audited annual financial statements for the year endedNovember 30, 2022, the related management's discussion and analysisand related CEO and CFO certificates before the required deadline ofFebruary 28, 2023.
The Company also announced PwC (PricewaterhouseCoopersLLP) has resigned as auditors and are now working with McGovern HurleyLLP to complete the preparation of these filings and expects to fileits 2022 annual financial statements and related management'sdiscussion and analysis on or before April 15, 2023.
The Company has applied to the Ontario SecuritiesCommission, as principal regulator for the Company, for the impositionof a management cease trade order under National Policy 12-203 –Management Cease Trade Orders ("NP 12-203") throughout theduration of the default.
The management cease trade order, if approved, willgenerally not affect the ability of persons who are not or have notbeen management of the Company to trade in its securities.
The Company confirms that it will satisfy theprovisions of the alternative information guidelines under NP 12-203by issuing biweekly default status reports in the form of newsreleases for so long as it remains in default of the above-notedfiling requirements.
The Company confirms other than its financial resultsfor the year ended November 30, 2022, there is no other materialinformation relating to its affairs that has not been generallydisclosed.
Other than as disclosed herein, the Company is up todate in its filing obligations.
About Tetra Bio-Pharm a
Tetra Bio-Pharma (TSX: TBP) (OTC-PINK: TBPMF)(FRA:JAM1) is a leader in cannabinoid-derived drug discovery anddevelopment with a FDA and a Health Canada cleared clinical programaimed at bringing novel prescription drugs and treatments to patientsand their healthcare providers. Tetra's evidence-based scientificapproach has enabled them to develop a pipeline of cannabinoid-baseddrug products for a range of medical conditions, including pain,inflammation, and oncology. With patients at the core of what they do,Tetra is focused on providing rigorous scientific validation andsafety data required for inclusion into the existing biopharmaindustry by regulators, physicians, and insurance companies.
Connect with Tetra: Email | Website | | | Instagram
Forward-looking statements
Some statements in this release may containforward-looking information. All statements, other than of historicalfact, that address activities, events or developments that the Companybelieves, expects or anticipates will or may occur in the future(including, without limitation, statements regarding potentialacquisitions and financings) are forward-looking statements.Forward-looking statements are generally identifiable by use of thewords “may”, “will”, “should”, “continue”,“expect”, “anticipate”, “estimate”, “believe”,“intend”, “plan” or “project” or the negative of thesewords or other variations on these words or comparable terminology.Forward-looking statements are subject to a number of risks anduncertainties, many of which are beyond the Company's ability tocontrol or predict, that may cause the actual results of the Companyto differ materially from those discussed in the forward-lookingstatements. Forward-looking statements in this news release include,among other things, statements about: the anticipated filing of theaudited annual financial statements and the approval of the managementcease trade order by the Ontario Securities Commission. Factors thatcould cause actual 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, regulationand anticipated and unanticipated costs and delays, the success of theCompany's research and development strategies, including the successof this product or any other product, the applicability of thediscoveries made therein, the successful and timely completion anduncertainties related to the regulatory process, the timing ofclinical trials, the timing and outcomes of regulatory or intellectualproperty decisions, the risk that the anticipated benefits from thereceipt of funds from the Investor will not be realized ascontemplated, or at all, and other risks disclosed in the Company'spublic disclosure record on file with the relevant securitiesregulatory authorities. Although the Company has attempted to identifyimportant factors that could cause actual results or events to differmaterially from those described in forward-looking statements, theremay be other factors that cause results or events not to be asanticipated, estimated or intended. Readers should not place unduereliance on forward-looking statements. The forward-looking statementsincluded in this news release are made as of the date of this newsrelease and the Company does not undertake an obligation to publiclyupdate such forward-looking statements to reflect new information,subsequent events or otherwise unless required by applicablesecurities legislation.
For further information, pleasecontact Tetra Bio-Pharma:
Tetra Bio-Pharma
Ms. Natalie Leroux
Phone: + 1 (833) 977-7575
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