/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
OTTAWA, ON, Dec. 21, 2021 /CNW Telbec/ - Tetra
Bio-Pharma Inc. ("Tetra" or the "Company") (TSX:
TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived
drug discovery and development, is pleased to announce the closing
of its marketed public offering (the "Offering") of
13,064,000 units of the Company (the "Units"), at a price of
$0.163 per Unit for aggregate gross
proceeds of $2.1 million. The
Offering was co-led by Research Capital Corporation and Echelon
Wealth Partners Inc. as co-lead agents and joint bookrunners (the
"Agents").
Each Unit is comprised of one common share of the Company (a
"Common Share") and one Common Share purchase warrant
of the Company (a "Warrant"). Each Warrant entitles the
holder thereof to purchase one Common Share at an exercise price of
$0.195 for a period of 48 months
following the closing of the Offering.
The net proceeds from the Offering will be used by the Company
for clinical trials, working capital and general corporate
purposes.
This press release is not an offer to sell or the solicitation
of an offer to buy the securities in the
United States or in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to qualification or
registration under the securities laws of such jurisdiction. The
securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within
the United States or to, or for
the account or benefit of, U.S. persons absent registration or an
applicable exemption from U.S. registration requirements and
applicable U.S. state securities laws.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX: TBP) (OTCQB: TBPMF) (FRA:
JAM1) is a leader in cannabinoid-derived drug discovery and
development with a FDA and a Health Canada cleared clinical program
aimed at bringing novel prescription drugs and treatments to
patients and their healthcare providers. Their evidence-based
scientific approach has enabled them to develop a pipeline of
cannabinoid-based drug products for a range of medical conditions,
including pain, inflammation, and oncology. With patients at the
core of what they do, Tetra Bio-Pharma is focused on providing
rigorous scientific validation and safety data required for
inclusion into the existing biopharma industry by regulators,
physicians and insurance companies.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains certain statements which
constitute forward-looking statements or information under
applicable Canadian securities laws, including statements relating
to the expected use of proceeds from the Offering. Such
forward-looking statements are subject to numerous known and
unknown risks, uncertainties and other factors, some of which are
beyond the Company's control, which could cause actual results or
events to differ materially from those stated, anticipated or
implied in the forward-looking statements. These risks and
uncertainties include general economic and capital markets
conditions, stock market volatility, the ability of the Company to
obtain necessary consents for the Offering, including the approval
of the Exchange, and the ability of the Company to complete the
Offering on the terms expected or at all. Although the Company
believes that the forward-looking statements in this news release
are reasonable, they are based on factors and assumptions, based on
currently available information, concerning future events, which
may prove to be inaccurate. As such, readers are cautioned not to
place undue reliance on the forward-looking statements, as no
assurance can be provided as to future plans, operations, results,
levels of activity or achievements. The forward-looking statements
contained in this news release are made as of the date of this news
release and, except as required by applicable law, the Company does
not undertake any obligation to publicly update or to revise any of
the forward-looking statements, whether as a result of new
information, future events or otherwise.
For more information visit: www.tetrabiopharma.com
SOURCE Tetra Bio-Pharma Inc.