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
"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
"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
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
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.
For further information:
Kam Thindal at 604-488-9875.