VICTORIA, BC, Jan. 19, 2015 /CNW/ - T-Bird Pharma Inc.
(TSXV:TPI) ("T-Bird" or the "Company"), a
pharmaceutical company focused on developing premium quality
medical marijuana products and a licensed producer ("LP") under the
Marihuana for Medical Purposes Regulations (Canada) ("MMPR"), wishes to announce that
Robert Gagnon has stepped down as
CEO and Board member. Dr. Bin Huang, who joined the Company
last Fall as President and Chief Operating Officer, has been
appointed CEO in his place. Noted Gagnon, "Now that the
Company is launched and we have brought in professional management,
it is time for me to step aside. I am confident in Dr. Huang
and the team she is building and pleased that she has agreed to
lead the next stage of our growth." Gagnon will be retained
by the Company as a consultant for a period of one year.
"Dr. Huang is a seasoned pharma executive with both operational
and capital markets experience. In her short time with the
Company she has implemented the processes and procedures needed to
allow us to fully commercialize our operation. We continue to
make great progress and are excited about our opportunities in
2015", commented David Raffa,
Chairman of the Board. "We will continue to build out our
commercialization team and expect to have further announcements in
this regard in the near future."
Since joining T-Bird Dr. Huang has been instrumental in applying
pharma processes to the Company's operations as well as readying
the Company for scalable growth. "I am impressed by the
passionate team we have at T-Bird and believe we are well
positioned to take advantage of the opportunity represented by this
new and evolving industry. I couldn't be more honored to have
the opportunity to lead the Company as we go to market", said Dr.
Huang. "We have numerous grow rooms in various states
of growth and have begun harvesting our initial crops. It is
a very exciting time for the Company."
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird
Biomedical Inc., a wholly owned private subsidiary formed in
January, 2013. 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. Thunderbird was acquired by T-Bird in
September, 2013.
ON BEHALF OF THE BOARD
"David Raffa"
Chairman
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.