Like r937 said, you can pack your meta tag as much as you want. Because it was so abused by SEO-kiddies trying to manipulate SERPs the search bots evolved because they're in the business of providing helpful links to their users.
As for variant spelling, IMHO you're more likely to rank better with "loose weight" than you are "lose weight". Much less competition. Although if you don't like that you could try "lose wait" or better yet "Lou's weight" or "Lou's wait". Which are all better than waiting for the lou

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