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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
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                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
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                material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
                240.14a-12(b)) </font></div>
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            <td style="width: 36pt;">&#160;</td>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02. Departure of Directors or Principal Officers; Election of Directors,
      Appointment of Principal Officers.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      September 5, 2005, Mr. Matthew M. Loar was appointed by the Board of Directors
      (the &#8220;Board&#8221;) to serve as Chief Financial Officer of Osteologix, Inc. (the
&#8220;Company&#8221;). Mr. Loar will receive a base salary at the rate of $20,833.33 per
      month (equivalent to an annual salary rate of $250,000. He is also eligible
      to
      earn an annual bonus of up to thirty-three and one third percent (33 1-3%)
      of
      his annual base salary payable at the discretion of the Company based on certain
      performance milestones.</font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Board
      has also granted to Mr. Loar pursuant to the Company&#8217;s Equity Incentive Plan,
      options to purchase up to 400,000 shares of the Company&#8217;s common stock at an
      exercise price of $1.50 per share. The options are subject to a four year
      vesting schedule with 100,000 of the shares vesting on September 1, 2007 and
      the
      remainder vesting in thirty six (36)&#160;equal monthly installments commencing
      October 1, 2007. The options expire on August 31, 2016.
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company and Mr. Loar executed a letter agreement dated August 10, 2006 which
      was
      signed by Mr. Loar on August 23, 2006,&#160;setting forth certain terms of his
      employment, such letter is attached as Exhibit 10.1 hereto. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
      is
      no understanding or arrangement between Mr. Loar and any director and any other
      person pursuant to which such person was appointed as Chief Financial Officer.
      Mr. Loar has not in the last two years engaged in any related party transaction
      with the Company of the kind required to be disclosed pursuant to Item 404(a)
      of
      Regulation S-B.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Loar
      is a Certified Public Accountant and has approximately twenty years experience
      in finance and accounting. For the past five years he has been Chief Financial
      Officer of Genelabs Technologies, Inc. Before being appointed as CFO, he was
      Vice President, Finance and also Controller at Genelabs. Earlier in his career,
      from 1991 through 1995, Mr. Loar was Corporate Accounting Manager for CBR Cement
      Corporation, a manufacturing company with approximately $500 million in annual
      sales. From 1986 to 1991 he was audit manager with Coopers &amp; Lybrand, one of
      the two predecessor firms of PriceWaterhouseCoopers. Mr. Loar graduated from
      the
      University of California, Berkeley and is a member of the American Institute
      of
      CPAs. He is a member of Financial Executives International and for two years
      served as treasurer of their Silicon Valley Chapter.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;9.01.
      Financial Statements and Exhibits.</strong></font></div>
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            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(c)</em></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Exhibits</em></font></div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Letter
                Agreement between the Company and Matthew M. Loar dated August 10,
                2006.</font></div>
            </td>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;">&#160;</td>
            <td align="left">&#160;</td>
          </tr>

      </table>
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            <td align="left" style="width: 36pt;"><font size="2">10.2</font></td>
            <td align="left"><font size="2">Equity Incentive Plan Stock Option
              Agreement
              between the Company and Matthew M. Loar dated September 1,
              2006.</font></td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release dated September 5, 2006.</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <td width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OSTEOLOGIX,
                INC.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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                <u>/s/ Charles J.
                Casamento&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
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                Charles J. Casamento</font></div>
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                Chief Executive Officer and
                President</font></div>
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      September 5, 2006</font></div>
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{"company-data": {"conformed-name": "Osteologix, Inc.", "cik": "0001278129", "assigned-sic": "2834", "irs-number": "320104570", "state-of-incorporation": "DE"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-112754", "film-number": "061074660"}, "business-address": {"street1": "425 MARKET STREET", "street2": "SUITE 2230", "city": "SAN FRANCISCO", "state": "CA", "zip": "94105", "phone": "(415) 955-2726"}, "mail-address": {"street1": "425 MARKET STREET", "street2": "SUITE 2230", "city": "SAN FRANCISCO", "state": "CA", "zip": "94105"}, "former-company": {"former-conformed-name": "CASTLE & MORGAN HOLDINGS INC", "date-changed": "20040130"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of
      1934
Date
      of
      Report (date of earliest event reported): September 1, 2006
Osteologix,
      Inc.
(Exact
      name of registrant as specified in charter)
Delaware
(State
      or
      other jurisdiction of incorporation)
333-112754
(Commission
                File Number)
32-0104570
(IRS
                Employer Identification No.)
425
      Market Street
Suite
      2230
San
      Francisco, CA 94105
(Address
      of principal executive offices and zip code)
(415)
      955-2726
(Registrant's
      telephone number including area code)
(Former
      Name and Former Address)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:
[  ]
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
[ 
                ]
Soliciting
                material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
                240.14a-12(b))
[
                 ]
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
[ 
                ]
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      5.02. Departure of Directors or Principal Officers; Election of Directors,
      Appointment of Principal Officers.
Effective
      September 5, 2005, Mr. Matthew M. Loar was appointed by the Board of Directors
      (the "Board") to serve as Chief Financial Officer of Osteologix, Inc. (the
"Company"). Mr. Loar will receive a base salary at the rate of $20,833.33 per
      month (equivalent to an annual salary rate of $250,000. He is also eligible
      to
      earn an annual bonus of up to thirty-three and one third percent (33 1-3%)
      of
      his annual base salary payable at the discretion of the Company based on certain
      performance milestones.
The
      Board
      has also granted to Mr. Loar pursuant to the Company's Equity Incentive Plan,
      options to purchase up to 400,000 shares of the Company's common stock at an
      exercise price of $1.50 per share. The options are subject to a four year
      vesting schedule with 100,000 of the shares vesting on September 1, 2007 and
      the
      remainder vesting in thirty six (36) equal monthly installments commencing
      October 1, 2007. The options expire on August 31, 2016.
The
      Company and Mr. Loar executed a letter agreement dated August 10, 2006 which
      was
      signed by Mr. Loar on August 23, 2006, setting forth certain terms of his
      employment, such letter is attached as Exhibit 10.1 hereto.
There
      is
      no understanding or arrangement between Mr. Loar and any director and any other
      person pursuant to which such person was appointed as Chief Financial Officer.
      Mr. Loar has not in the last two years engaged in any related party transaction
      with the Company of the kind required to be disclosed pursuant to Item 404(a)
      of
      Regulation S-B.
Mr.
      Loar
      is a Certified Public Accountant and has approximately twenty years experience
      in finance and accounting. For the past five years he has been Chief Financial
      Officer of Genelabs Technologies, Inc. Before being appointed as CFO, he was
      Vice President, Finance and also Controller at Genelabs. Earlier in his career,
      from 1991 through 1995, Mr. Loar was Corporate Accounting Manager for CBR Cement
      Corporation, a manufacturing company with approximately $500 million in annual
      sales. From 1986 to 1991 he was audit manager with Coopers & Lybrand, one of
      the two predecessor firms of PriceWaterhouseCoopers. Mr. Loar graduated from
      the
      University of California, Berkeley and is a member of the American Institute
      of
      CPAs. He is a member of Financial Executives International and for two years
      served as treasurer of their Silicon Valley Chapter.
Item 9.01.
      Financial Statements and Exhibits.
(c)
Exhibits
10.1
Letter
                Agreement between the Company and Matthew M. Loar dated August 10,
                2006.
10.2
Equity Incentive Plan Stock Option
              Agreement
              between the Company and Matthew M. Loar dated September 1,
              2006.
99.1
Press
                Release dated September 5, 2006.
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
OSTEOLOGIX,
                INC.
By:
/s/ Charles J.
                Casamento
Name:
                Charles J. Casamento
Title:
                Chief Executive Officer and
                President
Dated:
      September 5, 2006