Guy Chamberland, Ph.D. | Source | CEO of Tetra Bio-Pharma at Tetra Bio-Pharma

We are thrilled to secure financing for the HED business that is, importantly, not dilutive to current Tetra shareholders. We believe the Hemp Energy Drink business can grow much faster in the hands of a team focused on the beverage industry and the use of proceeds from this financing will increase the attractiveness of the asset, and we believe will eventually yield a higher price in the event of a sale.

These developments align with our strategic decision to focus Tetra Bio-Pharma’s efforts and investments on developing our innovative pipeline of biotechnology assets, including Caumz. We now look forward to focusing on Caumz™ and fully developing this valuable asset and continuing to build shareholder value.