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Tetra Bio-Pharma Announces Voting Results of 2021 Annual General and Special Meeting


OTTAWA, ON, May 28, 2021 /CNW/ - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTCQB: TBPMF) (FRA: JAM1), a leader in cannabinoid-derived drug discovery and development, is pleased to announce that all matters presented for approval at the Company's annual general and special meeting (the "Meeting") of shareholders of the Company held earlier today via live audio webcast online were approved.

Election of Directors and Resolutions

All of the nominees listed in Tetra's management information circular dated April 20, 2021, as supplemented by a supplement to the management information circular dated May 18, 2021 (the "Circular"), namely Dr. Guy Chamberland, Dale Weil, Brent Norton, John Kim and Catherine Auld, were elected as directors of the Company until the next annual meeting of shareholders or until their successors are elected or appointed. The initial management information circular dated April 20, 2021 was listing Messrs. Guy Chamberland, Dale Norton and Carl Merton as well as Ms. Dale Weil as director nominees for the ensuing year. Following such date, management continued its efforts to identify suitable director candidates in order to increase its board membership, resulting in the nominations of John Kim and Catherine Auld as directors of the Corporation. In addition, on May 18, 2021, Mr. Carl Merton announced that he would not be seeking reelection as a director at this meeting of the shareholders.

The proposal to appoint McGovern Hurley LLP as auditor of the Company and to authorize the board of directors of the Company to fix the remuneration to be paid to the auditor, as presented in the Circular, was approved by a majority of shareholders at the Meeting.

The ordinary resolution of the shareholders of the Company approving the amended and restated omnibus equity incentive compensation plan of the Company (the "Amended and Restated Omnibus Plan") (having the effect of amending and restated the current 2020 omnibus equity incentive plan of the Company) and approving the unallocated awards thereunder, the whole for a period of three (3) years and as more particularly described in the Circular, was adopted by a majority of shareholders at the Meeting. The Amended and Restated Omnibus Plan provides for a revised amending provision and reflects other amendments of a "housekeeping" nature in order to make the Company's equity incentive compensation plan compliant with the TSX Company Manual. In addition, the Amended and Restated Omnibus Plan provides for a streamlined vesting and settlement mechanics for share units.

Please refer to the Company's report of voting results filed under the Company's SEDAR profile at on May 28, 2021 for further details on the above matters.

About Tetra Bio-Pharma Inc.:

Tetra Bio-Pharma (TSX: TBP) (OTCQB: TBPMF) (FRA:JAM1) is a leader in cannabinoid-derived drug discovery and development with a FDA and a Health Canada cleared clinical program aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Its evidence-based scientific approach has enabled us to develop a pipeline of cannabinoid-based drug products for a range of medical conditions, including pain, inflammation, and oncology. 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 biopharma industry by regulators, physicians and insurance companies.

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SOURCE Tetra Bio-Pharma Inc.

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