Panag Pharma Receives a Repayable $500,000 Contribution from the Atlantic Canada Opportunities Agency (ACOA) – Yahoo Finance

TBP.V) (TBPMF), is pleased to announce that its wholly owned subsidiary Panag Pharma Inc. has received a repayable Government of Canada contribution of $500,000 through the Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program. The Program creates opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive.

“We are extremely pleased to have ACOA’s support,” said Chris MacLean, Chief Operating Officer of Panag Pharma Inc. “This contribution clearly underlines the confidence the Agency has in our strategic direction to further grow our business and to our commitment to the Province of Nova Scotia and Atlantic Canada. Our management and employees are grateful for the opportunities this financing presents.”

Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, made the announcement on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA.

“When a local organization develops ground-breaking solutions to treat problems like chronic pain, it not only improves the daily lives of Canadians, but also bolsters development of the life science sector in the region,” said PS Fillmore. “The Government of Canada is proud to support local businesses like Panag Pharma that spur economic growth, create highly skilled jobs and make the world a better, and less painful, place.”

“Today’s announcement reminds me of the expression that it takes a village,” said Dr. Bill Cheliak, Chairman of the Board of Directors of Tetra Bio-Pharma. “With the ingenuity and innovation of our life sciences group at Panag, the marketing expertise of Tetra Natural Health, the licensing skills of Tetra Bio-Pharma, assistance with facilities from Dalhousie University and the generosity and confidence of the Atlantic Canada Opportunities Agency, we are able to showcase what collaboration can accomplish and it is something we should all be justifiably proud of.”

TBP.V) (TBPMF) is a biopharmaceutical leader in cannabinoid-based drug discovery and development with Health Canada authorized, and FDA reviewed, clinical trials aimed at bringing novel prescription drugs and treatments to patients and their healthcare providers. The Company has several subsidiaries engaged in the development of an advanced and growing pipeline of Bio Pharmaceuticals, Natural Health and Veterinary Products containing cannabinoid and other medicinal plant-based elements. With patients at the core of what we do, Tetra Bio-Pharma is focused on providing rigorous scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators, physicians and insurance companies.

www.tetrabiopharma.com and www.tetranaturalhealth.com

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