M Pharmaceutical Inc. (DB:T3F1) entered into an agreement to acquire Trimtec Biomedical Inc. in stock on May 6, 2015. Under the terms of the agreement, M Pharmaceutical Inc. agreed to issue common shares from treasury in a number to be determined upon completion of due diligence and assume the obligations of the exclusive worldwide license agreement covering this technology that Trimtec holds with UTI Limited Partnership at the University of Calgary in Calgary, Alberta. Under the license, M Pharmaceutical is obligated to pay an initial fee of CAD 50,000, repay patent costs of CAD 156,937 over 20 months, a milestone payment of CAD 10,000 and an ongoing royalty of 3% on sales.
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- M Pharmaceutical Inc. (DB: T3F1) entered into an agreement to acquire Trimtec Biomedical Inc.