OTTAWA / ACCESSWIRE / July 9, 2020 / Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSXV:TBP)(OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery and development, is pleased to announce that it has appointed Steve Edgett as a Strategic Advisor. Mr. Edgett will act as a special advisor to the CEO and the Board of Directors with a mandate to advise on strategic and capital markets aspects of the Company's activities and to aid in the advancement of our key programs: ARDS-003, QIXLEEF™ and CAUMZ™.
Management Commentary
"The Tetra team and I are extremely pleased to be working with Mr. Steve Edgett. He is a high caliber individual, with an exceptional track record of delivering growth in both the private sector and public markets, including several large mergers and acquisitions" said Guy Chamberland, CEO of Tetra Bio-Pharma. "It is indeed a privilege to be able to work with Steve and I personally look forward to building a strong and growing working relationship with him as we move towards the production and commercialization of Tetra's pipeline".
"I'm proud to join Tetra as a Strategic Advisor to help advance the Company's vision of being a global leader in cannabinoid-derived drug discovery and development. I believe Tetra is on the cusp of providing an alternative to opioid based pharmaceutical drugs to people around the world and this new role just expands my opportunity to help the company bring a drug to market and that is something that I can proudly support. I have extensive capital market experience demonstrated through my 10+ years membership on the executive team at EMS Technologies, a NASDAQ listed company, prior to being acquired by Honeywell in 2011. Additionally, I have been involved in executing multiple mergers and acquisitions which will benefit Tetra's management team as the Company continues its late stage drug development programs.
Steve Edgett
Steve Edgett is the Executive Vice President of Spartan Bioscience Inc., a leading biotechnology company that has developed the world's smallest DNA analyzer. Mr. Edgett joined Spartan in 2019 and oversees corporate strategy and international business development. Steve has more than 15 years of experience in business development, strategic planning, and international markets such as the Middle East. He has founded and held senior leadership roles in several high-technology companies, including Knowmadics, Cobham plc, and EMS Technologies. Most recently, Steve was the CEO and President of Nautics Group, a military surveillance company.
Option Grant
In consideration for the services to be provided by the Senior Advisor, the Company has granted options (the "Options") to the Senior Advisor to purchase 350,000 common shares in the Company at a price $0.20 per share. The Options will vest based on certain performance milestones, which include the consummation of certain defined transactions, and the closing price of Tetra's common shares being at least CAD$1.00 for a specified number of trading days. The Senior Advisor may exercise any portion of the Option that has vested on or prior to the fifth anniversary of the date of grant.
About Tetra Bio-Pharma
Tetra Bio-Pharma (TSXV:TBP)(OTCQB:TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with a Health Canada approved, and FDA reviewed and approved, 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
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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.
For further information, please contact Tetra Bio-Pharma Inc.:
Investor Contact:
Alpha Bronze, LLC
Mr. Pascal Nigen
Phone: + 1 (646) 255-0433
[email protected]
Media Contact:
energi PR
Ms. Carol Levine APR, FCPRS
Phone: + 1 (416) 425-9143 ext. 226
Mobile: + 1 (514) 703-0256
[email protected]
SOURCE: Tetra Bio-Pharma