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MONTREAL, QUEBEC – TheNewswire – March 1, 2023 -- Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTC-PINK: TBPMF) (FRA: JAM1), a leader in cannabinoid-based drug discovery and development, announced today that it will not be in a position to file its audited annual financial statements for the year ended November 30, 2022, the related management's discussion and analysis and related CEO and CFO certificates before the required deadline of February 28, 2023.
The Company also announced PwC (PricewaterhouseCoopers LLP) has resigned as auditors and are now working with McGovern Hurley LLP to complete the preparation of these filings and expects to file its 2022 annual financial statements and related management's discussion and analysis on or before April 15, 2023.
The Company has applied to the Ontario Securities Commission, as principal regulator for the Company, for the imposition of a management cease trade order under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") throughout the duration of the default.
The management cease trade order, if approved, will generally not affect the ability of persons who are not or have not been management of the Company to trade in its securities.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.
The Company confirms other than its financial results for the year ended November 30, 2022, there is no other material information relating to its affairs that has not been generally disclosed.
Other than as disclosed herein, the Company is up to date in its filing obligations.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSX: TBP) (OTC-PINK: TBPMF) (FRA:JAM1) is a leader in cannabinoid-derived drug discovery and development with a FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Tetra's evidence-based scientific approach has enabled them to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. With patients at the core of what they do, Tetra is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians, and insurance companies.
Connect with Tetra: Email | Website | LinkedIn | Twitter | Instagram
Forward-looking statements
Some statements in this 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. Forward-looking statements in this news release include, among other things, statements about: the anticipated filing of the audited annual financial statements and the approval of the management cease trade order by the Ontario Securities Commission. 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 this product or any other product, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing of clinical trials, the timing and outcomes of regulatory or intellectual property decisions, the risk that the anticipated benefits from the receipt of funds from the Investor will not be realized as contemplated, or at all, 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:
Tetra Bio-Pharma
Ms. Natalie Leroux
Phone: + 1 (833) 977-7575
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