PINL:GRPOF - Post by User
Post by
charly90on Feb 08, 2018 12:37pm
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Post# 27527486
February 28 2018
February 28 2018We are extremely pleased to partner with Echelon Wealth Partners in securing this financing agreement. As we are about to initiate our Health Canadas recently approved phase 3 registration trial for our lead drug candidate, PPP001, in late stage cancer patients, the proceeds from this Offering will enable Tetra to continue, and even accelerate some of the key development projects in our pipeline. This is another milestone in working towards becoming the first biopharmaceutical company in the world to get a smokable dried cannabis product approved as a prescription drug by Health Canada, the FDA and other regulatory agencies around the world," states Bernard Fortier, CEO of Tetra Bio-Pharma. The Company intends to use the net proceeds of the Offering to advance the Companys Phase 3 trial for PPP001 and other clinical trials, to effect the repayment of indebtedness and for general corporate and working capital purposes. The Offering will be completed by way of a short form prospectus to be filed in all provinces of Canada and on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the U.S. Securities Act). The Offering is expected to close on or about February 28, 2018 and is subject to customary closing conditions including, but not limited to, the approval of securities regulatory authorities and the TSX Venture Exchanges approval.