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Bullboard - Stock Discussion Forum Tetra Bio Pharma Inc TBPMQ

Healthcare Cannabis

Tetra Bio-Pharma Inc. is a Canada-based cannabinoid-derived drug discovery and development company. The Company has developed a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. The Company has a pipeline of formulations and drug delivery systems with a portfolio of assets from the early research and development phase to... see more

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GREY:TBPMQ - Post Discussion

Tetra Bio Pharma Inc > tbp files for bankruptcy

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Post by Humanist on Aug 01, 2023 9:51am

tbp files for bankruptcy

 	by @thenewswire on 1 Aug 2023, 09:30

Tetra Bio-Pharma Voluntary Bankruptcy

(TheNewswire)

Montreal – TheNewswire - August 1, 2023 – Tetra Bio-Pharma Inc. (“Tetra” or the “Company”) (TSX:TBP) (OTC:TBPMF) (FRA:JAM1) a leader in cannabinoid-derived drug discovery and development announced that it has made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada). HOULE ROY S.A. (the “Trustee”) has been appointed as Tetra’s trustee in bankruptcy.

On March 7, 2023, the corporation announced that the Ontario Securities Commission rejected an application for a Management Cease Trade Order (MCTO). The rejected MCTO prevented the corporation from negotiating any securities to continue to finance the corporation and blocked Tetra from paying debt with shares. Based on these events the corporation had no other choice but to make a voluntary assignment into bankruptcy.

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