Algernon Pharmaceuticals Inc (AGNPF)

[Money $hot]

As I have stated before, a licensing/partnership deal get's common shareholders nothing in the grand scheme of things. The only deal that makes sense is for Cannabix to take over Algernon's FAIMS agreement. Offering Algernon shareholders 5 million shares of Cannabix is the only way for Kal to make amends. Any other route does not recoup any damages from Kal's two faced conflicts of interest and acts of blatant thievery at Breathtec/Nash Pharma. Licensing out the device simply means - Kal sold down/sold out/sold off and abandoned the FAIMS technology, then took the FAIMS technology back at firesale prices, and snatching half the shares out of shareholders hands in the process, then takes the FAIMS technology and pawns it off to another entity for dollars/crumbs controlled by management. That's pure insanity!

Here's what Kal and pals stated Breathtec was worth at inception before any tech advancements by the Yost Group:

Three Year History

Acquisition of Breathtec Biomedical, Inc.

The Company completed a plan of merger (the “Breathtec Acquisition”) on October 26, 2015, whereby the Company acquired 100% of the issued and outstanding common shares of Breathtec through the merger of the Company’s wholly-owned subsidiary, Breathtec Merger Sub, Inc., with Breathtec as the surviving subsidiary of the Company. Pursuant to the plan of merger, the Company issued an aggregate of 15,605,400 Common Shares to the shareholders of Breathtec. Certain Common Shares issued to the principals of the Company are subject to escrow conditions required by applicable securities laws and the CSE requirements.

In connection with the Breathtec Acquisition, the Company closed a private placement on October 14, 2015 consisting of 7,101,400 units at a price of $0.25 per unit for gross proceeds of $1,775,350. Each unit consisted of one Common Share and one-half of one Common Share purchase warrant, with each warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.40 until October 14, 2017. The Company paid an aggregate finder’s fees of $120,028 and issued 480,112 Common Share purchase warrants, with each warrant being exercisable for one Common Share at an exercise price $0.25 per Common Share until October 14, 2017.

If I'm reading this correctly, Breathtec was valued at approximately 5.675M US$ (22.7M shares x $0.25) at inception. Which coincides with the conversation and email exchange(s) I had with Kal in 2015 when he stated he didn't want to "dilute" Cannabix shareholders by 5M US$. 3 years of tech advancements later, we're asking for 1 Cannabix share for every 10 shares of Algernon shares outstanding to buyout the FAIMS agreement. To date, that would equate to 5.1M US$. This is an EZ deal that makes common sense for all stakeholders. However, Kal and pals would rather BLO smoke up our _______ (fill in the blank) year after year. One outlandish story after the next and longs have gotten jacksh*t but massive losses out of the FAIMS technology @ Breathtec. Yeah, we have a new story brewing now, but if you ask ANY shareholders here if Kal's lies and thievery over the years was worth it - they would tell you HELL NO.

Kal has taken shareholders on a journey through Dante's Inferno



Happy Easter To All,

/////AMG