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TORONTO, ONTARIO--(Marketwired - July 11, 2014) - Merus Labs International Inc. ("Merus" or the "Company") (TSX:MSL)(NASDAQ:MSLI) is pleased to announce today that the Company has completed its previously announced private placement issuance of $10 million of Series A convertible preferred shares (the "Series A Preferred Shares") to a large Canadian institutional investor. In aggregate, the Company issued 10,000 Series A Preferred Shares at a price of $1,000 per share for total proceeds of $10 million. The proceeds of the offering are expected to be used by the Company for future acquisition opportunities as well as for general corporate purposes. Additional details regarding the Series A Preferred Shares are provided in the Company's June 10, 2014 news release. |
