Guy saw a chance to cash out , too bad we didn't see it . ORLEANS, Ontario, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc (“Tetra” or “TBP”), (TSX VENTURE: TBP) (OTCQB: TBPMF), has closed a private placement of units (the “Private Placement”) with its strategic partner Aphria Inc. (“Aphria”) (TSX: APHA) (NYSE: APHA). Under the Private Placement, Tetra issued to Aphria (6,900,000) units (the “Units”), with each unit being comprised of one Class A common share of Tetra (a “Common Share”) and one Common Share purchase warrant (a “Warrant”), at a price of $1.03 per unit, which is the closing price of the Common Shares on the TSX Venture Exchange on November 28, 2018, for gross proceeds of $7,107,000. Each warrant will entitle Aphria to purchase one full common share at a price of $1.29 per Common Share for a period of 36 months expiring November 2021 subject to acceleration in certain circumstances. As part of the transaction, and in order for Aphria to attain 19.9%, Tetra Co-Founders, Andre Rancourt and Dr. Guy Chamberland, CEO and CSO of Tetra have agreed to sell 5 million shares each to Aphria. Following this sale Dr. Chamberland and Mr. Rancourt will continue to hold 5 million shares each as the company moves forward.
Add his wage for the last 5 years , he has done well with nothing to show for it on the backs of shareholders.So now his shares are worth 125,000.00 , there are lots of shareholders that lost far more than that here !