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Tetra Bio-Pharma Inc. Announces Proposed Offering of Units
Tetra Bio-Pharma Inc. Announces Proposed Offering of Units.
About this update from Tetra Bio-pharma Inc.
[{"type":"text","content":"\n\n\n\nTetra Bio-Pharma Inc. Announces Proposed Offering of Units\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nTetra Bio-Pharma Inc. Announces Proposed Offering of Units\nCanada NewsWire\nOTTAWA, June 19, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n OTTAWA, June 19, 2019 /CNW Telbec/ - Tetra Bio-Pharma Inc. (\"Tetra\" or the \"Company\"), a biopharmaceutical multifaceted corporation with its primary focus in cannabinoid‑based drug discovery and development (TSXV: TBP) (OTCQB: TBPMF), is pleased to announce that it has filed and received a receipt for a preliminary short form prospectus (the \"Preliminary Prospectus\") in connection with a proposed offering of units (\"Units\") for minimum gross proceeds of C$3,500,000 and maximum gross proceeds of C$7,000,000 (the \"Offering\").\nEchelon Wealth Partners Inc. (the \"Lead Agent\") and Paradigm Capital Inc. (collectively with the Lead Agent, the \"Agents\") will conduct the Offering on a commercially reasonable best efforts basis as the Company's agents for the Offering in each of the provinces of Canada, except Québec. The Units may also be offered for sale in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") and applicable state laws.\nEach Unit will consist of one Class A common share (a \"Common Share\") in the capital of the Company and one Common Share purchase warrant (a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to acquire one Common Share by paying an exercise price for a period of 36 months from the date of closing of the Offering. The number of Units to be distributed, the price per Unit and the exercise price of the Warrants will be determined by negotiation between the Company and the Lead Agent prior to the filing of the final short form prospectus relating to the Offering.\nIf the minimum Offering size is completed...