M Pharmaceutical Inc. (DB:T3F1) signed a letter of intent to acquire M Diagnostics Inc. for approximately $0.2 million on December 2, 2014. The letter of intent calls for a perpetual, worldwide, exclusive license to all the rights to the eMosquito technology owned by M Diagnostics Inc. The consideration $0.15 million on closing, a 3% royalty on the commercial sale of any related products, and issuance of approximately 8.1 million 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.
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- M Pharmaceutical Inc. (DB: T3F1) signed a letter of intent to acquire the intellectual property associated with the eMosquito device by the purchase of M Diagnostics Inc. for approximately $0.2 million.