Authorised Investment Fund Ltd. (ASX:AIY) agreed to acquire 20% stake in Pharmachal Pty Ltd from Charles Fridlender for AUD 0.03 million on May 17, 2016. The parties involved in the transaction signed the agreement on June 30, 2016. As a part of consideration, Authorised Investment Fund will issues two million shares to Charles Friedlander or nominee, grants one million options exercisable at AUD 0.03 per option any time up to 18 months from the date of this agreement to Charles Fridlender or nominee and grants one million options exercisable at AUD 0.05 per option any time up to 24 months from the date of this agreement to Charles Fridlender or nominee. Authorised Investment Fund also has an option to acquire an additional 10% of Pharmachal Pty Ltd for AUD 0.85 million and to be paid no later than 24 months from the date of this agreement. Authorised Investment Fund Ltd. (ASX:AIY) cancelled the acquisition of 20% stake in Pharmachal Pty Ltd from Charles Fridlender on June 30, 2017.