| M Pharmaceutical Announces Name Change to Callitas Health Inc. and Share Consolidation Cincinnati, OH (FSCwire) - Callitas Health Inc., formerly M Pharmaceutical Inc. (CSE: LILY, OTCQB: MPHMF, FWB: T3F2) (Callitas or the Company), announces today that it is changing 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 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 also announced that it has converted US$ 2.5 million of vendor debt owing in respect to its recent acquisitions of assets from 40 Js into 62,500,003 common shares at a conversion price of $0.05 (post-consolidation $0.50) per share. These shares will be subject to trading restrictions until January 18, 2018. 13,166,667 shares went to current insiders. Payment of the balance of approximately US $1,000,000 owing to the vendors from this acquisition has been deferred and will be paid out of operating cash surpluses or from future financing. Post consolidation 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 to its peers, and certain investors that were unable to invest when its shares were trading at less than $0.10 are now able to do so. A comprehensive update news release is scheduled to be released the first part of next week. 200,000 shares were also issued at a deemed price of $0.05 (post-consolidation $.50) to an arms length party pursuant to a service agreement. These shares will be subject to trading restrictions until January 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 healthcare. The new corporate website is now www.callitas.com (https://www.callitas.com). "Our new name, Callitas Health Inc. matches the recent name change of our operating US 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 CEO. "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. Callitas Health Inc. is a clinical-stage company developing innovative technologies for obesity, weight management and female health & wellness. In addition to its recent acquisitions of C-103, a reformulation of Orlistat and assets from 40Js LLC, Callitas is scheduled to launch their FDA cleared fertility product branded as ToConceive sometime in September 2017. Callitas trades on the Canadian Securities Exchange (CSE) under the ticker symbol LILY as well as on the OTCQB as MPHMF and FWB (Frankfurt Stock Exchange) as T3F2. For more information contact: Callitas Investor Relations Phone: +1 (859) 868-3131 |