Tetra Bio-Pharma Announces Filing of Restated Financial Statements and MD&A

OTTAWA, March 30, 2020 (GLOBE NEWSWIRE) -- Tetra Bio-Pharma Inc. ("Tetra" or the "Corporation") (TSX-V: TBP) (OTCQB: TBPMF), announced today it has filed an amended and restated management’s discussion and analysis for the financial year ended November 30, 2019 ("Restated MD&A"), which is available on SEDAR under the Corporation's profile.

The board of directors of the Corporation, based on the recommendation of the audit committee in consultation with the management of the Corporation, has determined that the Corporation’s previously filed management’s discussion and analysis for the for the financial year ended November 30, 2019 ("Previously Filed MD&A") needed to be restated to incorporate disclosure on the COVID-19 pandemic and its impact on the general business of Tetra.

The Previously Filed MD&A was originally filed by the Corporation on SEDAR on March 25, 2020. The Restated MD&A replaces and supersedes the Previously Filed MD&A. Such Previously Filed MD&A should be disregarded.

About Tetra Bio-Pharma:

Tetra Bio-Pharma (TSX-V: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 Corporation 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. Could we work in “existing regulatory standards of safety and clinical evidence for pharmaceutical products”

More information at:

Source: Tetra Bio-Pharma

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture 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 Corporation 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 Corporation's ability to control or predict, that may cause the actual results of the Corporation 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 Corporation to obtain sufficient financing to execute the Corporation's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Corporation'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 Corporation's public disclosure record on file with the relevant securities regulatory authorities. Although the Corporation 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 Corporation 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:

Pascal Nigen Alpha Bronze LLC

Phone : + 1 (646) 255-0433