Merus Labs International Inc. Announces Normal Course Issuer Bid
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/17/14 -- Merus Labs International Inc. ("Merus" or the "Company") (TSX: MSL)(NASDAQ: MSLI) announced today that it is proceeding with a normal course issuer bid for up to 7,615,972 common shares of the Company, representing approximately 10% of the total public float of the common shares of the Company. On November 12, 2014, the Company had a total of 81,245,724 common shares outstanding out of which a total of 5,086,000 common shares are non-public shares held by directors and senior officers or held in escrow. The Company has received approval from the Toronto Stock Exchange (the "TSX") to commence this bid on November 19, 2014. Purchases will be made on the TSX at the market price at the time of acquisition. Pursuant to TSX policies, daily purchases will not exceed 149,025 common shares except where such purchases are made in accordance with "block purchases" exemptions under applicable TSX policies.
The Company''s normal course issuer bid will terminate on November 18, 2015 or earlier if the number of shares sought in the normal course issuer bid have been purchased. The Company reserves the right to terminate the bid earlier if it feels it is appropriate to do so. The Company has not made any purchases of its common shares during the past twelve months.
The Company believes that the market price of its common shares at certain times may be attractive and that the repurchase of common shares at such market prices is an appropriate use of corporate funds.
All shares will be purchased either on the open market through the facilities of the TSX or through other Canadian market places, and payment for the shares will be in accordance with TSX policies. The price paid for the shares will be the market price at the time of purchase. No purchases will be made other than by means of open market transactions during the term of the normal course issuer bid. The shares purchased by the Company will be cancelled. Purchases may be suspended by the Company at any time.
About Merus Labs International Inc.
Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. Merus 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.
Cautionary Statement
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E (i) (1) of the United States Securities Exchange Act of 1934. 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 the following: general economic and business conditions, changes in demand for Merus'' products, changes in competition, the ability of Merus to complete future acquisitions and to integrate these acquisitions into its business, Merus'' ability to complete future debt and/or equity financings required to complete future acquisitions, interest rate fluctuations, currency exchange rate fluctuations, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this press release should not be regarded as a representation by Merus that Merus'' plans and objectives will be achieved. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.
Contacts:
Merus Labs International Inc.
Investor Relations
(416) 593-3725
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Datum: 17.11.2014 - 07:00 Uhr
Sprache: Deutsch
News-ID 1318841
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