ORLEANS, Ontario, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc.
("Tetra" or the "Corporation") (TSX VENTURE: TBP) (OTB: TBPMF), announces today that it has granted, pursuant
to the Company's stock option plan (the "Plan"), 375,000 options to officers of the Company. Each option entitles its holder to
purchase one common share of the Company.
300,000 options will become vested in four 6-month tranches of 75,000 options, are exercisable at a price of
$0.69 and will expire on December 24, 2022. 75,000 options vest immediately, are exercisable for a period of four years at a price
of $0.69 and will expire on February 8, 2023. All of the options are subject to the terms of the Plan and the requirements of the
TSX Venture Exchange.
As approved at the annual meeting of shareholders of the Company held on June 19, 2018, the Plan allows the Company to issue the
equivalent of up to 10% of the number of issued and outstanding common shares from time to time. There are currently 166,831,731
issued and outstanding common shares.
About Tetra Bio-Pharma Inc.
Tetra Bio-Pharma (TSX-V: TBP) (OTCQB: TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with
a Health Canada approved, and FDA reviewed, clinical program aimed at bringing novel prescription drugs and treatments to patients
and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline
of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabis and other medicinal plant-based elements. With
patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data
required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.
For more information visit: www.tetrabiopharma.com
Source: Tetra Bio-Pharma
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Some statements in this news release may contain forward-looking information. All statements, other than of historical fact, that
address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future
(including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements.
Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these
words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are
beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from
those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from
current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing
to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of
the Company's research and development strategies, including the success of PPP001, the applicability of the discoveries made
therein, the successful and timely completion and uncertainties related to the regulatory process including the applications for
Orphan Drug Designation, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions
and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially
from those described in forward-looking statements, there may be other factors that cause results or events not to be as
anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking
statements included in this news release are made as of the date of this news release and the Company does not undertake an
obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless
required by applicable securities legislation.
For further information, please contact Tetra Bio-Pharma Inc.
Robert (Bob) Bechard
Executive Vice President, Corporate Development and Licensing
514-817-2514
Investors@tetrabiopharma.com
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