VICTORIA, BC, Jan. 19, 2015 /CNW/ - T-Bird Pharma Inc. (TSXV:TPI) ("T-Bird" or the "Company"), a pharmaceutical company focused on developing premium quality medical marijuana products and a licensed producer ("LP") under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR"), wishes to announce that Robert Gagnon has stepped down as CEO and Board member. Dr. Bin Huang, who joined the Company last Fall as President and Chief Operating Officer, has been appointed CEO in his place. Noted Gagnon, "Now that the Company is launched and we have brought in professional management, it is time for me to step aside. I am confident in Dr. Huang and the team she is building and pleased that she has agreed to lead the next stage of our growth." Gagnon will be retained by the Company as a consultant for a period of one year.
"Dr. Huang is a seasoned pharma executive with both operational and capital markets experience. In her short time with the Company she has implemented the processes and procedures needed to allow us to fully commercialize our operation. We continue to make great progress and are excited about our opportunities in 2015", commented David Raffa, Chairman of the Board. "We will continue to build out our commercialization team and expect to have further announcements in this regard in the near future."
Since joining T-Bird Dr. Huang has been instrumental in applying pharma processes to the Company's operations as well as readying the Company for scalable growth. "I am impressed by the passionate team we have at T-Bird and believe we are well positioned to take advantage of the opportunity represented by this new and evolving industry. I couldn't be more honored to have the opportunity to lead the Company as we go to market", said Dr. Huang. "We have numerous grow rooms in various states of growth and have begun harvesting our initial crops. It is a very exciting time for the Company."
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird Biomedical Inc., a wholly owned private subsidiary formed in January, 2013. The principal activities of Thunderbird are the production of marijuana from its Victoria, British Columbia production facility, as regulated by the Marihuana for Medical Purposes Regulations (Canada). Thunderbird obtained a medical marijuana license to undertake the production of medical marijuana in February 2014, being the fifth company in Canada to obtain such a license. Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
"David Raffa"
Chairman
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and sales of medical marijuana, anticipated revenues, projected size of market, quantities of future medical marijuana production, completion of production facilities and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, results of production and sale activities, the Company's historical experience with medical marijuana operations, uninsured risks, regulatory changes, availability of production facilities, timeliness of government approvals and the granting of permits and licenses, changes in prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE T-Bird Pharma Inc.
