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Tetra Bio-Pharma Inc. Announces Closing of Non-Brokered Private Placement
Tetra Bio-Pharma Inc. Announces Closing of Non-Brokered Private Placement.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Inc. Announces Closing of Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTetra Bio-Pharma Inc. Announces Closing of Non-Brokered Private Placement\nCanada NewsWire\nOTTAWA, ON, Feb. 3, 2021\n\n\n\nOTTAWA, ON, Feb. 3, 2021 /CNW Telbec/ - Tetra Bio-Pharma Inc. (\"Tetra Bio-Pharma\" or the \"Company\") (TSX: TBP) (OTCQB: TBPMF), a leader in cannabinoid-derived drug discovery and development announced today the closing of its previously announced non-brokered private placement (the \"Offering\") of units of the Company (each, a \"Unit\"). A total of 11,085,064 Units were issued by the Company at a price of C$0.17 per Unit for aggregate gross proceeds of approximately C$1,885,000.\nEach Unit consists of one common share of the Company (each, a \"Common Share\") and one common share purchase warrant of the Company (each, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire, on payment of C$0.21 to the Company, one common share of the Company (each, a \"Warrant Share\"), subject to adjustment in certain circumstances, for a period of 24 months, expiring on February 3, 2023. The Warrants are subject to acceleration, at the Company's discretion, in the event the volume-weighted average closing price of the Common Shares on the Toronto Stock Exchange is equal to or greater than C$0.60 for a period of 10 consecutive trading days. \nThe securities issued pursuant to the Offering are subject to a four-month hold period expiring on June 4, 2021. The Offering and listing of the Common Shares and Warrant Shares have been conditionally approved by the Toronto Stock Exchange. The Offering remains subject to the receipt of final approval of the Toronto Stock Exchange.  \nThe Company intends to use the net proceeds of the Offering to bridge its working capital and general corporate requirements to further pursue its clinical trials and regulatory activities.\nThe securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws, and according...