| Home : February 2015 : February 07, 2015 News : M Pharmaceutical Inc. (Formerly First Sahara Energy Inc.) Closes Over-Subscribed Private Placement |
M Pharmaceutical Inc. (Formerly First Sahara Energy Inc.) Closes Over-Subscribed Private Placement |
February 07, 2015
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 6, 2015) - M Pharmaceutical Inc., formerly First Sahara Energy Inc. ( the "Company") (CSE:MQ) announces that it has closed its previously announced private placement on an over-subscribed basis. The Company has issued 43,750,000 units at $0.02 per unit for gross proceeds of $875,000. Each unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant") entitling the holder to purchase one additional Common Share for $0.05 for a period of 12 months from closing of the Financing. Proceeds will be used for working capital, including expenses for the acquisition of the rights to the eMosquito, and certain testing and development costs thereof. Securities issued hereunder will be subject to trading restrictions until June 7, 2015.
http://www.marketwired.com/mw/release.do?id=1989531&sourceType=3
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