On August 1, 2023 Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX:TBP) (OTC:TBPMF) (FRA:JAM1) a leader in cannabinoid-derived drug discovery and development reported that it has made a voluntary assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada). HOULE ROY S.A. (the "Trustee") has been appointed as Tetra’s trustee in bankruptcy (Press release, Tetra Bio Pharma, AUG 1, 2023, View Source [SID1234635190]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

On March 7, 2023, the corporation announced that the Ontario Securities Commission rejected an application for a Management Cease Trade Order (MCTO). The rejected MCTO prevented the corporation from negotiating any securities to continue to finance the corporation and blocked Tetra from paying debt with shares. Based on these events the corporation had no other choice but to make a voluntary assignment into bankruptcy.