Tetra Goes Buying, Volume Sings
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Tetra Goes Buying, Volume Sings

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By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, November 6, 2018

Tetra Bio-Pharma Inc. (TSX-Venture:TBP) caused investors to sit up and take notice Tuesday morning, on word the company has found a partner for much of its stock. 

The Ottawa-area firm – claiming to be “a leader in cannabinoid-based drug discovery and development”—has approached the shareholders of Panag Pharma Inc. to buy the latter’s issued and outstanding shares. 

Panag is a Canadian-based life sciences company focused on the development of novel cannabinoid-based formulations for the treatment of pain and inflammation.

Tetra CEO Guy Chamberland said, “We have been working with Panag for over a year and as a combined entity we will have a robust product pipeline of cannabinoid derived drugs for development as prescription or OTC drugs.” 

Chamberland continued, “Tetra is not just acquiring assets and intellectual property; we are joining a group of world-renowned cannabinoid experts that will help take Tetra to the next level as a pharmaceutical company.”

Panag will remain a separate subsidiary owned 100% by Tetra and will provide Tetra with additional discovery and early phase drug development capacity.

As for Tetra shares, they acquired a penny, or 1%, to $1.05, on a volume of 548,000


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