Traxion Sab De Cv Ord Shs GRPOF

TBP ANNOUNCED PVT PLACEMENT OF OVER 11 MLNS UNITS AT .17 C.

[Humanist]

Tetra Bio-Pharma Inc. Announces a Non-Brokered Private Placement
  by @newswire on 27 Jan 2021, 10:15pm
   
OTTAWA, ON, Jan. 27, 2021 /CNW Telbec/ - Tetra Bio-Pharma Inc. ("Tetra Bio-Pharma" or the "Company") (TSX: TBP) (OTCQB: TBPMF), a leader in cannabinoid-derived drug discovery and development announced today that it is conducting a non-brokered private placement of 11,141,176 units of the Company (collectively, the "Units") at a price of C$0.17 per Unit for aggregate gross proceeds of approximately $1,900,000 (the "Offering").

This Offering is being conducted with a group of strategic investors including Dr. Michael Nashat, PharmD, a co-founder and the former President and Chief Executive Officer of TerrAscend Corp. Dr. Nashat is also the co-founder of OnPharm Independent Pharmacy Group, one of the largest independent non-banner group in Canada and the managing partner of RxInfinity Inc.

Each Unit will consist of one common share of the Company (each, a "Common Share") and one common share purchase warrant of the Company (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire, on payment of C$0.21 to the Company, one common share of the Company (each, a "Warrant Share"), subject to adjustment in certain circumstances, for a period of 24 months from the closing date. 

The Warrants are subject to acceleration, at the Company's discretion, in the event the volume-weighted average closing price of the Common Shares on the Toronto Stock Exchange is equal to or greater than C$0.60 for a period of 10 consecutive trading days.

The Offering is expected to close on or about January 29, 2021.

The securities issued pursuant to the Offering will be subject to a four-month hold period from the closing date. Completion of the Offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

The Company intends to use the net proceeds of the Offering to bridge its working capital and general corporate requirements to further pursue its clinical trials and regulatory activities.

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.

Guy Chamberland, CEO and CRO of Tetra stated, "The arrival of strategic investors is very encouraging.  It shows that we are on the right path and that our achievements in 2020 have been recognized by established industry leaders."

The Toronto Stock Exchange has not approved the contents of this press release. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Tetra Bio-Pharma:
 

[Kingofstockst]

This is a pleasant surprise, I know 11 million shares but the strategic INVESTOR is a nice connection to have for what's coming.. and only $1.9 million which indicates they don't need more for a specific reason glta very excited about this

[endpntplay]

Absolutely devastating shareholder destruction. 11M shares and 11M warrants added for 1.9M. Basically says the new DIN app is already sold to the lowest bidder. RIP TBP. I expect insolvency by the end of the year. 

[Yagu72]

um yeah....it doesn't mean that at all. Its not 11M shares and 11M warrants for $1.9M. The strike price on the warrants is only 0.21c which is another $2.3M in funding once exercised. so 22M raises $4.2M. 

[Realnewsalways1]

You are so obvious on what you are trying to do and in the 1 in a million chance you are just stupid and think research is free to do...then go put your 5 bucks in the bank instead of the market?? Have a good weekend