Category: Medical Marijuana
- Published: 19 April 2017
- Written by Editor
Tetra Bio-Pharma & Aphria Announce Plans for the Joint Distribution of Dried Medical Cannabis in the Maritime Provinces & Quebec
OTTAWA, ONTARIO--( April 19, 2017) - Tetra Bio-Pharma Inc. ("Tetra") (CSE:TBP)(CSE:TBP.CN)(OTCQB:GRPOF) and Aphria Inc. ("Aphria") (TSX:APH) (OTCQB:APHQF), announced plans today for the joint distribution of dried medical cannabis in the maritime provinces and Quebec.
Tetra and Aphria will enter into a joint supply agreement, with Aphria supplying dried medical cannabis under its ACMPR license, and Tetra packaging the product using the manufacturing process developed for its in-progress clinical drug trial for PPP001. The formulation and packaging will be completed by Tetra, under its CDSA dealer's licence, at its New Brunswick facility. Based on the success of the venture, Tetra and Aphria may expand into other provinces. The venture is preparing to initiate its commercial operations early summer 2017 with revenues commencing in Tetra's third quarter of 2017 and Aphria's first quarter of 2018.
"This commercial venture is an important decision for Tetra shareholders as it will start generating revenues this summer which will be invested back into developing PPP001 as a prescription pharmaceutical," said Andre Rancourt, CEO of Tetra Bio-Pharma Inc. "Tetra will be accelerating its manufacturing and quality studies as required by the U.S. and Canadian prescription drug and controlled substance regulations. The investment in this research will be offset by sales revenues generated under the ACMPR."
"The commercial venture between Tetra and Aphria will enhance Aphria's brand visibility and distribution of our high-quality medical grade cannabis into the maritime provinces and Quebec, as we look to meet the commercial demand for PPP001," said Vic Neufeld, CEO of Aphria Inc. "As a leading Canadian licensed producer, it was important for us to work with an organization that shares our focus on pharmaceutical-grade quality assurance and control. Tetra's emphasis on developing products driven by patient needs and scientific research and development makes them the perfect partner in this important next step for Aphria."
Tetra and Aphria have invested in the development of its PPP001 drug and will continue to invest to bring PPP001 to market in both Canada and USA as the first prescription drug using dried cannabis. The corporations have developed a high quality dried cannabis product and would like to make it available to physicians under the current ACMPR program. The quality and clinical research studies completed to date would be integrated into a joint Continuing Medical Education program for physicians and pharmacists. Tetra and Aphria have concluded that there is demand for an evidence-based approach in medical cannabis and the two companies intend on using their pharmaceutical approach to help patients. The venture will also be commercializing devices for the inhalation of medical cannabis.
About Tetra Bio-Pharma:
Tetra Bio-Pharma is a multi subsidiary publicly traded company (CSE:TBP)(CSE:TBP.CN)(OTCQB:GRPOF) engaged in the development of Bio Pharmaceuticals and Natural Health Products containing Cannabis and other medicinal plant based elements.
Tetra Bio-Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators physicians and insurance companies. More information is available about the company at: www.tetrabiopharma.com.
Aphria Inc., one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders. We are the first public licenced producer to report positive cash flow from operations and the first to report positive earnings in consecutive quarters. For more information, visit www.Aphria.com.
The Canadian Securities Exchange ("CSE") has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
Forward-looking statements - Tetra Bio-Pharma Inc.
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, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, 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.
Forward-looking statements - Aphria Inc.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS - APHRIA: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to internal expectations, estimated margins, expectations related to the completion of this project, its revenue and gross margin expectations, expectations for future growing capacity and costs, the completion of any capital project or expansions, any commentary related to the legalization of marijuana and the timing related thereto, expectations of Health Canada approvals and expectations with respect to future production costs. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in Canada generally, income tax and regulatory matters; the ability of Aphria to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Tetra Bio-Pharma Inc.
Vice President, IR & Corporate Communications
President & CEO