Tetra Bio-Pharma Inc. Acquires Common Shares of Mondias Natural Products Inc.

OTTAWA, ON, Nov. 2, 2020 /CNW Telbec/ - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX: TBP) (OTCQB: TBPMF) is pleased to announce that on October 27, 2020, it acquired 14,625,000 common shares (the "Acquired Shares") of Mondias Natural Products Inc. ("Mondias"), a corporation with its head office at #26 – 4500 Kimber Boulevard Saint-Hubert, QC, J3Y 8K5. The Acquired Shares were acquired by Tetra in connection with the previously announced divesture of Tetra's former subsidiary, Lumiera Health Innovation Inc. (the "Target"), pursuant to which Mondias has acquired all of the common shares of the Target for a purchase price of CAN$1.3 million (the "Lumiera Transaction"). The portion of the purchase price for the Lumiera Transaction payable to Tetra was paid through the issuance of the Acquired Shares.

Tetra did not hold any securities in the capital of Mondias prior to the date of the Lumiera Transaction. The Acquired Shares represent approximately 14.8% of the issued and outstanding shares of Mondias following the closing of the Lumiera Transaction.

Tetra has acquired the Acquired Shares for investment purposes and may acquire further securities of Mondias or dispose of its holdings of common shares of Mondias, both as investment conditions warrant. The common shares of Mondias are listed on the TSX Venture Exchange under the symbol "NHP".

Tetra's head office is located at 2316 St-Joseph Blvd., Orleans, ON, K1C 1E8. For further information please contact Jean-François Boily, Chief Financial Officer of Tetra, at [e-mail].

About Tetra Bio-Pharma

Tetra Bio-Pharma (TSX:TBP) (OTCQB:TBPMF), is a biopharmaceutical leader in cannabinoid-based drug discovery and development with FDA and Health Canada approved clinical programs aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. Our 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. For more information visit: www.tetrabiopharma.com

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 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 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 to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company'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 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.

SOURCE Tetra Bio-Pharma Inc.

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