M Phar­ma­ceu­ti­cal changes name to Cal­li­tas Health

Stockwatch Daily - - HEALTH CARE - Mr. Gary Thomp­son re­ports

M PHAR­MA­CEU­TI­CAL Inc. has changed its name to Cal­li­tas Health Inc., in con­junc­tion with a share con­sol­i­da­tion on the ba­sis of one new Cal­li­tas share for each 10 old M Pharma shares. No frac­tional shares will be is­sued, and all frac­tional shares will be rounded to the near­est whole num­ber. A let­ter of trans­mit­tal is be­ing sent to each share­holder ex­plain­ing the ex­change process.

The com­pany has also con­verted $2.5-mil­lion (U.S.) of ven­dor debt ow­ing in re­spect to its re­cent ac­qui­si­tions of as­sets from 40 J’s LLC into 62,500,003 com­mon shares at a con­ver­sion price of five cents (50 cents post­con­sol­i­da­tion) per share.

These shares will be sub­ject to trad­ing re­stric­tions un­til Jan. 18, 2018. A to­tal of 13,166,667 shares went to cur­rent in­sid­ers. Pay­ment of the bal­ance of ap­prox­i­mately $1-mil­lion (U.S.) ow­ing to the ven­dors from this ac­qui­si­tion has been de­ferred and will be paid out of op­er­at­ing cash sur­pluses or from fu­ture fi­nanc­ing.

Post­con­sol­i­da­tion the com­pany will have 32,462,095 com­mon shares out­stand­ing, and 38,065,275 on a fully di­luted ba­sis. The com­pany feels that this con­sol­i­da­tion will see its shares trad­ing at lev­els com­pa­ra­ble with its peers, and cer­tain in­vestors that were un­able to in­vest when its shares were trad­ing at less than 10 cents are now able to do so. A com­pre­hen­sive up­date news re­lease is sched­uled to be re­leased the first part of next week.

A to­tal of 200,000 shares were also is­sued at a deemed price of five cents (50 cents post­con­sol­i­da­tion) to an arm’s-length party pur­suant to a ser­vice agree­ment. These shares will be sub­ject to trad­ing re­stric­tions un­til Jan. 18, 2018.

As a clin­i­cal-stage com­pany de­vel­op­ing in­no­va­tive tech­nolo­gies for weight man­age­ment and fe­male health and well­ness, the new name re­flects its broader com­mit­ment to drive the in­no­va­tions needed to shape the fu­ture of health care. The new cor­po­rate web­site re­flects the com­pany’s new name.

“Our new name, Cal­li­tas Health Inc., matches the re­cent name change of our op­er­at­ing U.S. sub­sidiary to Cal­li­tas Ther­a­peu­tics Inc , and re­flects our wide-rang­ing business ob­jec­tive of de­vel­op­ing and de­liv­er­ing in­no­va­tive tech­nolo­gies for weight man­age­ment and fe­male health and well­ness,” said Gary Thomp­son, pres­i­dent and chief ex­ec­u­tive of­fi­cer. “As a com­pany with its roots in fe­male health and well­ness, we are com­mit­ted to de­liv­er­ing break­through prod­ucts and ser­vices that truly im­prove daily liv­ing. Align­ing our logo with the beau­ti­ful and strong Calla lily seems most ap­pro­pri­ate in light of our mis­sion.”

About Cal­li­tas Health Inc.

Cal­li­tas is a clin­i­cal-stage com­pany de­vel­op­ing in­no­va­tive tech­nolo­gies for obe­sity, weight man­age­ment, and fe­male health and well­ness. In ad­di­tion to its re­cent ac­qui­si­tions of C-103, a re­for­mu­la­tion of Orli­s­tat, and as­sets from 40 J’s LLC, Cal­li­tas is sched­uled to launch its Food and Drug Ad­min­is­tra­tion-cleared fer­til­ity prod­uct branded as ToCon­ceive some time in Septem­ber, 2017.

We seek Safe Har­bor.

Christo­pher An­drews, John An­thony Duck­ett, Don­ald Richard Skeith, Ge­orge Tsafalas, Kim Whit­te­more

(MQ) Shares: 252,053,712

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