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| Home : Merus Labs International Inc. Announces Aggregate $21 Million Financing Transactions |
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Jun 11
2014 |
Merus Labs International Inc. Announces Aggregate $21 Million Financing Transactions |
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TORONTO, ONTARIO--(Marketwired - June 10, 2014) - Merus Labs International Inc. ("Merus" or the "Company") (TSX:MSL)(NASDAQ:MSLI) is pleased to announce today that the Company has entered into a private placement subscription agreement to issue $10 million of Series A convertible preferred shares (the "Series A Preferred Shares") to a large Canadian institutional investor. Concurrent with this transaction, Merus has also signed a letter agreement to acquire a new corporation to be incorporated by Dacha Strategic Metals Inc. ("Dacha") (TSX VENTURE:DSM) which upon closing will have approximately $11 million in cash and no other assets or liabilities in exchange for Merus common shares. The $21 million in proceeds from the two financing transactions are expected to be used by the Company for future acquisition opportunities as well as for general corporate purposes. |
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| Source:http://www.marketwired.com/mw/release.do?id=1919267&sourceType=3 |
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