M Pharmaceutical Inc. (DB:T3F2) announced a non-brokered private placement of up to 28,000,000 units at a price of CAD 0.025 per unit for gross proceeds of up to CAD 700,000 on April 6, 2016. Each unit consists of one common share and one warrant exercisable for one year at CAD 0.05 per warrant share. The company will pay qualified brokers finder's fees of 8% in cash and provide brokers warrants on the same terms as the unit warrants equal to 8% of the funds such brokers assist the company.