Merus Announces Closing of Private Placement
June 10, 2013
Merus Labs International Inc. ("Merus" or the "Company") (TSX:MSL) (NASDAQ:MSLI) announces that it has completed its previously announced non-brokered private placement financing (the "Financing") of 7,678,034 shares at a price of $0.60 per share for gross proceeds of $4,606,820. The proceeds of the Financing are expected to be used by the Company for debt repayment and general corporate purposes.
These securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Act"), and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Merus Labs International Inc.
Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. The Company utilizes its expertise in pharmaceutical markets and its access to capital to acquire and license niche branded products. Merus further enhances the sale and distribution of these products by the introduction of a focused marketing and promotion plan.
Certain statements contained in this press release may constitute "forward-looking statements", including statements regarding the use of proceeds of the Financing. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Merus' actual results to be materially different from any future results expressed or implied by these statements. Such factors include that Merus may not use the proceeds for the stated purpose. These forward-looking statements speak only as of the date of this press release, and Merus undertake no obligation to update or revise the statements.
Merus Labs International Inc.