Proceeds to be used for debt repayment and general corporate purposes
By Devika Patel
Knoxville, Tenn., June 3 - Merus Labs International Inc. said it will conduct a C$4.58 million private placement of stock.
The company will sell 7,628,667 common shares at C$0.60 per share. The price per share is identical to the May 31 closing share price.
A 6% finder's fee will be paid to PowerOne Capital Markets Ltd.
Settlement is expected June 7.
Proceeds will be used for debt repayment and general corporate purposes.
The specialty pharmaceutical company is based in Toronto.
| Issuer: | Merus Labs International Inc.
|
| Issue: | Common shares
|
| Amount: | C$4,577,200
|
| Shares: | 7,628,667
|
| Price: | C$0.60
|
| Warrants: | No
|
| Pricing date: | June 3
|
| Settlement date: | June 7
|
| Stock symbol: | Toronto: MSL
|
| Stock price: | C$0.60 at close May 31
|
| Market capitalization: | C$19.35 million
|
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