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 weeks.
"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 quality.
"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 the business."
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.