M Pharmaceutical Inc. (DB:T3F2) entered into letter of intent to acquire reformulated orlistat for weight loss from Chelatexx, LLC for CAD 1.30 million in cash and stock on November 20, 2015. The indicative terms of the letter of intent include an up-front cash payment, 10 million common shares of M Pharmaceutical, and a low single-digit royalty on net sales. The transaction is subject to finalizing terms in a definitive agreement within the next 14 calendar days and certain closing conditions which are expected to conclude by January 2016.

M Pharmaceutical Inc. entered into a definitive agreement to acquire reformulated orlistat for weight loss from Chelatexx, LLC on April 6, 2016. The consideration includes payment of CAD 0.26 million in cash and issuance of 10 million shares at CAD 0.10 per share. As announced on June 1, 2016, the due diligence for the transaction is completed and the closing is expected to take place soon.

On June 27, 2016, M Pharmaceutical completed a private placement. Proceeds of CAD 0.27 million will be used to fund the payment due on closing of Chelatexx acquisition. All conversion has been done on www.oanda.com.