VANCOUVER, B.C., CANADA (April 7, 2017) - M Pharmaceutical Inc. (CSE: MQ, OTCQB: MPHMF, FWB: T3F2), (the "Company" or “M Pharma”) announces today that it has been made eligible for book-entry delivery and depository services of The Depository Trust Company (the "DTC") to facilitate electronic settlement and transfer of its common shares on the US stock exchange OTC (otcmarkets.com, symbol MPHMF).
The Depository Trust Company is one of the world's largest securities depositories. While there is no requirement that any security be held at DTC to trade, many brokerage firms and issuers want to take advantage of the efficiencies and costs benefits that DTC offers. In contrast many stock exchanges require DTC eligibility prior to listing of a security.
The DTC accepts deposits of securities from its participants only, who are usually clearing firms. DTC helps boost efficiencies, reduce risk and lower costs for participants, issuers and investors throughout the lifecycle of a security. The benefits begin with the eligibility/underwriting process, which enables the initial distribution of a security offering to be made electronically to financial institutions that are DTC participants and ultimately to investors. Once a security becomes eligible, DTC, through its nominee Cede & Co., is the registered holder of the securities, routinely processing dividend and interest payments and managing the electronic, "book-entry" transfers of interests in securities among participants. These participants are often holding and transferring interests in the securities at the direction of their customers, including ultimate beneficial owners.
This electronic method of clearing securities accelerates the receipt of stock and cash, and thus streamlines the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
"This approval will broaden M Pharma’s appeal to US investors and will allow brokers and professional advisors previously unable or unwilling to follow or recommend the Company's stock, to become more familiar with our corporate story at this pivotal stage of our Company," stated Gary Thompson, CEO. "The DTC approval comes swiftly on the heels of a number of recent milestones for the Company”, continued Thompson. "With the recent acquisitions of ToConceive and the 40J’s assets, we are very pleased to be able to confirm our eligibility. Electronic trading is the standard in today's financial marketplace, and becoming DTC eligible greatly simplifies the process of trading our common stock in the US, vastly widening our audience and potential shareholder base. Further, by facility and enabling trading over a broader range of firms. DTC eligibility increases the efficiency and security of the market for our shareholders, lowers the cost and transaction risk, and serves as a reflection of our ongoing efforts to support our growing investor base as the Company develops.”
About M Pharmaceutical Inc.
Formed in early 2015, M Pharmaceutical 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 from Chelatexx, LLC and assets from 40J’s LLC, the Company is scheduled to launch their FDA cleared fertility product branded as ToConceive in the second quarter of 2017.
M Pharmaceutical Inc. 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 company’s biomedical & drug 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 at www.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices: C-103 is an investigational drug and is not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of this drugs have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body.