VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 15, 2016) - M Pharmaceutical, Inc. (CSE:MQ)(OTCQB:MPHMF)(FRANKFURT:T3F2), (the "Company" or "M Pharma"), announced that Mathew Lehman has resigned from the board of directors and from his position as president and CEO. The Company is undertaking a search for a new CEO. Mr. Lehman has advised the Company that he will be available to act as a consultant to the Company if so required.
M Pharma also announced that the previously announced letter of intent to acquire reformulated orlistat from Chelatexx, LLC has been allowed to lapse by the parties. The Company will be looking at additional opportunities.
About M Pharmaceutical Inc.
Formed in early 2015, M Pharmaceutical Inc. is a clinical-stage company developing innovative technologies for obesity and weight management. The Company has rights to three technologies invented by Dr. Martin Mintchev at the University of Calgary: Trimeo capsules, temporary controllable pseudobezoars for non-invasive gastric volume reduction for the treatment of obesity; Trimtec, gastrointestinal neurostimulators for the treatment of obesity and gastroparesis; and eMosquito wearable blood glucose monitor for diabetics.
M Pharmaceutical trades on the Canadian Securities Exchange (CSE) under the ticker symbol "MQ" as well as on the OTCQB as "MPHMF" and FWB (Frankfurt Stock Exchange) as "T3F2."
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the commercialization of the rights to the eMosquito, Trimeo and Trimtec biomedical technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com and the Company's filings to the CSE atwww.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.