M-flation, is a string theory motivated inflationary model with three scalar field matrices and gauge fields  in the adjoint representation of the U(N) gauge group. One of these 3N^2 scalars appears as the effective inflaton while the rest of the fields (scalar and gauge fields) can play the role of isocurvature fields during inflation and preheat fields afterwards. There is a region in parameter space and initial field values, the hilltop region,''  where predictions of the model are quite compatible with the recent Planck data. We show that in this hilltop region, if the inflaton ends up in the supersymmetric vacuum, the model can have an embedded preheating mechanism. Couplings of the preheat modes are related to the inflaton self-couplings and therefore are known from the CMB data. Through lattice simulations performed using a symplectic integrator, we have numerically computed the power spectra of gravitational waves produced during the preheating stage following M-flation.  The preliminary numerical simulation of the spectrum from multi-preheat fields peaks in the GHz band with  an amplitude 10^{-16}, suggesting that the model has concrete predictions for the ultra-high frequency gravity-wave probes. This signature, along with substantial amount of isocurvature perturbations and r=0.048 at the CMB scales, could be used to distinguish the model from rival inflationary models. I also discuss the predictions of the model in other regions of parameter space and advantages of M-flation in suppressing the eta-problem which plagues the inflationary models.