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Tetra Bio-Pharma proposes election of two more nominees at upcoming meeting; unveils board changes

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF) said it was proposing to nominate two additional directors at its upcoming annual and special meeting of shareholders scheduled for May 28, 2021 as the company reported a raft of board changes. The board believes that the addition of Catherine Auld and John Kim will enhance the overall skill set of the board, it said in a statement. READ: Tetra Bio-Pharma closes $10M financing to support clinical trials Auld has provided CFO and other financial consulting services to public and private companies in the biotechnology, healthcare IT and pharma industries for over 20 years. Kim is an independent business consultant, investor, and director of both public and private companies and has extensive experience in capital markets. Also, director Carl Merton has advised the company that he will not stand for re-election to the board due to other professional obligations. Accordingly, the board is proposing five nominee directors instead of four. Merton will remain as director of the company and chair of the Audit Committee to complete his current term, which expires at the start of the meeting. In light of Merton deciding not to stand for re-election, the board intends to appoint Catherine Auld as the new chair of the audit committee after the meeting, it said. Chairman Bill Cheliak will also not be seeking re-election, it added, so the company has appointed director Brent Norton as interim chair. “On behalf of the company, I wish to express our sincere gratitude to Carl Merton for his many years of service to the company while serving as Director and Chair of the Audit Committee of the company,” said Guy Chamberland, CEO of the company. The firm added it would prepare and make available to shareholders a supplement to the circular to include the information about the additional nominees and reflect the fact that Merton will not stand for re-election. Contact the author at giles@proactiveinvestors.com

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