M Pharmaceutical Inc. (DB:T3F2) announced a non-brokered private placement of up to 3,888,888 units at a price of CAD 0.09 per unit for gross proceeds of CAD 349,999.92 on July 7, 2015. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of CAD 0.25 per share for a period of one year.