Proceeds to be used for debt repayment and general corporate purposes
By Devika Patel
Knoxville, Tenn., June 10 - Merus Labs International Inc. said it completed a C$4.61 million private placement of stock. The deal priced for C$4.58 million on June 3.
The company sold 7,678,034 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 was paid to PowerOne Capital Markets Ltd.
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$4,606,820
|
| Shares: | 7,678,034
|
| Price: | C$0.60
|
| Warrants: | No
|
| Pricing date: | June 3
|
| Settlement date: | June 10
|
| Stock symbol: | Toronto: MSL
|
| Stock price: | C$0.60 at close May 31
|
| Market capitalization: | C$27.33 million
|
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