The Conversation (0)
Feb. 19, 2015 12:44PM PST
M Pharmaceutical Inc. (CSE:MQ) has finalized the acquisition of the intellectual property associated with the eMosquito by the purchase of private company M Diagnostics Inc. for US$ 150,000 on closing, agreed to pay a 3% royalty on the commercial sale of any related products, and issued 8,066,670 common shares, which are subject to a 3 year escrow, with 10% being immediately releasable, and the balance in 6 equal installments over the next 3 years.
The Company has also entered into an agreement to sell its remaining oil and gas and mining assets to an arms-length private company for a deemed price of $250,000, payable by the issue of 10,000,000 private company shares at a deemed price of $0.025.
Click here to read the M Pharmaceutical Inc. (CSE:MQ) press release