VICTORIA, May 7, 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"), is pleased to announce that its wholly owned subsidiary Thunderbird Biomedical Inc. has received a notice from Health Canada dated May 6, 2015 confirming the renewal of its production license, and including the expansion of its license to include full authorization to commence medical marijuana sales.
"We are very excited to have secured our sales license and look forward to begin servicing medical marijuana patients and executing on our patient acquisition and commercial roll out strategy. We can now begin providing Canadian patients with high quality medicinal marijuana," said Dr. Bin Huang, President and CEO of T-Bird Pharma Inc. "In addition to our ongoing commitment to scientific and clinical research, we have spent considerable time developing quality assurance and customer service systems that will be cornerstones of our commercialization effort. Securing a licence to sell represents a significant milestone in our Company's evolution as we now move towards commercialization."
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
"Dr. Avtar Dhillon"
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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 or [email protected]