2015-09-03 11:44 ET - News Release
Mr. Matthew Lehman reports
M PHARMACEUTICAL INC. ADVISES SHAREHOLDERS ON THE AMENDMENT OF TERMS AND PRICING OF WARRANTS
Pharmaceutical Inc. has resolved to reprice 1.1 million warrants
previously due to expire on Sept. 13, 2015, and 330,000 warrants due to
expire on Feb. 25, 2016. The exercise price of each of September, 2015,
warrants and the February, 2016, warrants has been changed to 13 cents.
Further, it was resolved to extend the expiry date of the September,
2015, warrants until the close of business (Vancouver, B.C., local time)
on Oct. 31, 2015. The expiry date of the February, 2016, warrants has
not been amended and will expire on Feb. 25, 2016. No further amendments
have been made to either the September, 2015, warrants or the February,
2016, warrants; all other terms and conditions, as detailed in the
respective warrant certificates, remain in effect.
The company will notify affected registered warrant holders by
mail or by e-mail. Original, paper warrant certificates will not be
replaced. In order to exercise the September, 2015, warrants or the
February, 2016, warrants, holders shall provide the original warrant
certificates to the company with a cheque in the amount of 13 cents per
exercised warrant prior to the applicable expiry date.
Matthew Lehman, the company chief executive officer, stated: "I
am pleased that the company is able to amend the terms of existing
warrants. I believe this will provide the company capital to progress
our development plans for Trimeo, Trimtec and eMosquito."
We seek Safe Harbor.