VICTORIA, BC,
Sept. 8, 2014 /CNW/ - T-Bird
Pharma Inc. (TSXV:TPI) ("T-Bird" or the
"Company"), a pharmaceutical company focused on developing
premium quality medical marijuana products, is pleased to announce
that its shares will begin trading on the TSX Venture Exchange on
September 9, 2014. The
Company's wholly-owned subsidiary, Thunderbird Biomedical Inc.
("Thunderbird"), is licensed under the Marihuana for Medical
Purposes Regulations (Canada) ("MMPR") overseen by Health
Canada. T-Bird will be British
Columbia's first publicly traded medical marijuana
company. Thunderbird is one of 13 companies in Canada licensed under the MMPR.
On September 5,
2014, the Company announced the completion of its
$3 million equity financing.
The agent on the financing was Richardson GMP Ltd. and the proceeds will
enable the Company to bring online two additional grow rooms at
their existing Victoria based
facility and accelerate expansion to a second larger facility, also
located on Vancouver Island, as the Company moves towards
commercialization. Additional updates on the new facility
will be available in the coming weeks.
"After spending much of the past year assembling
our team and developing our technology driven processes we are
excited to be moving the Company forward towards providing a
premium quality medical marijuana product to Canadian patients
under the MMPR. Our pharmaceutical grade approach aims to
ensure repeatable, scalable and consistent medical marijuana
products," said Rob Gagnon, founder
of Thunderbird and CEO of T-Bird. "Over the next few months
we will be working towards further expansion of not only our
growing facilities, but also adding key scientific advisors to our
team".
The Company has an existing portfolio of over 60
high grade premium medicinal strains of marijuana, which it refers
to internally as "varietals", and which includes such well known
strains as: Island Honey, Pink Kush and Blue God.
Thunderbird's focus is on working with BC developed strains.
BC has developed a reputation for expertise in this subject matter
and strains that have become synonymous with quality.
"Our business model has been to start with a
small facility to perfect our processes which have been architected
to be scalable and repeatable. We believe the market
opportunity is only going to grow and we intend to be well
positioned to increase capacity while ensuring quality of product"
noted incoming Chairman, David
Raffa. Added Raffa, "With the initial financing now
done and a strong financial partner in Richardson GMP, we are well
positioned to do what is necessary to grow the business."
About T-Bird and Thunderbird
Thunderbird Biomedical Inc. is a British Columbia private company incorporated
under the BCBCA on January 28, 2013,
and is wholly-owned by T-Bird Pharma Inc. The principal
activities of Thunderbird are the production of marijuana from its
Victoria, British Columbia
production facility, as regulated by the Marihuana for Medical
Purposes Regulations (Canada). Thunderbird obtained a
medical marijuana license to undertake the production of medical
marijuana in February 2014, being the
fifth company in Canada to obtain
such a license. T-Bird is the publically traded parent
company of Thunderbird.
ON BEHALF OF THE BOARD
"Robert Gagnon"
CEO and Director
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.
Cautionary Statements Regarding Forward Looking
Information
Certain statements in this press release
constitute forward-looking statements, within the meaning of
applicable securities laws. All statements that are not
historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs of
future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties that could cause actual
and future events to differ materially from those anticipated in
such statements.
Forward-looking statements include, but are not
limited to, statements with respect to commercial operations,
including production and sales of medical marijuana, anticipated
revenues, projected size of market, quantities of future medical
marijuana production, completion of production facilities and other
information that is based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does
not intend, and does not assume any obligation, to update these
forward-looking statements except as required by law. These
forward-looking statements involve risks and uncertainties relating
to, among other things, results of production and sale activities,
the Company's historical experience with medical marijuana
operations, uninsured risks, regulatory changes, availability of
production facilities, timeliness of government approvals and the
granting of permits and licenses, changes in prices, actual
operating and financial performance of facilities, equipment and
processes relative to specifications and expectations. Actual
results may differ materially from those expressed or implied by
such forward-looking statements.
SOURCE T-Bird Pharma Inc.