Tetra Bio-Pharma Inc. Announces Termination of "At-The-Market" Offering

Rhea-AI Summary

Tetra Bio-Pharma announced the termination of its at-the-market equity offering program, effective November 11, 2021. The program, initiated on May 28, 2021, allowed for up to $10 million in common shares to be sold, but no shares were issued under this program. Tetra Bio-Pharma focuses on cannabinoid-derived drug discovery and development, with cleared clinical programs aimed at producing novel prescription drugs for various medical conditions.

Positive

• Tetra Bio-Pharma has not sold any shares under the ATM program, indicating no dilution of current shareholders' equity.

Negative

• The termination of the ATM program may limit potential funding options in the future.

OTTAWA, ON, Nov. 4, 2021 /PRNewswire/ - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery and development, announced today the termination of its previously announced "at-the-market" equity offering program (the "ATM Program") with Canaccord Genuity Corp. as sole agent.

The termination of the ATM Program is effective as of November 11, 2021. Tetra will not be using the ATM Program. The ATM Program was established on May 28, 2021, allowing the Company to issue and sell up to $10 million aggregate amount of common shares of the Company to the public from time to time, at the Company's discretion. As of the date of this announcement, Tetra had not sold any of its common shares under the ATM Program.

About Tetra Bio-Pharma

Tetra Bio-Pharma (TSX: TBP) (OTCQB: 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. Our evidence-based scientific approach has enabled us 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 we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing biopharma industry by regulators, physicians and insurance companies.

For more information visit: www.tetrabiopharma.com

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.

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. 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 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.

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SOURCE Tetra Bio-Pharma Inc.

FAQ

What is the significance of Tetra Bio-Pharma terminating the ATM program?

The termination of the ATM program means Tetra Bio-Pharma will not use this avenue for raising funds, which could impact future financing strategies.

When was the ATM program initiated and when will it end?

The ATM program was initiated on May 28, 2021, and will end effective November 11, 2021.

How much funding was Tetra Bio-Pharma allowed to raise through the ATM program?

Tetra Bio-Pharma was allowed to raise up to $10 million through the ATM program.

What type of products does Tetra Bio-Pharma focus on developing?

Tetra Bio-Pharma focuses on cannabinoid-derived products aimed at treating conditions like pain and inflammation.