TORONTO, ONTARIO--(Marketwire - April 27, 2011) - AlphaNorth Asset Management ("AlphaNorth") announces it has acquired control or direction over 2,000,000 common shares and 2,000,000 common share purchase warrants of Merus Labs International Inc. ("Merus Labs") at a price of $0.20 per unit through a private placement offering. In addition, on April 20, 2011 and April 26, 2011, AlphaNorth acquired control or direction over additional 89,000 common shares and 80,000 common shares of Merus Labs, respectively. As a result, AlphaNorth exercises control or direction over an aggregate of 2,369,025 common shares and 2,000,000 common share purchase warrants in the capital of Merus Labs, representing approximately 16.11% of the issued and outstanding common shares of Merus Labs (assuming exercise of all the common share purchase warrants over which AlphaNorth exercises control or direction).
The common shares of Merus Labs are listed on the Canadian National Stock Exchange and trade under the trading symbol "MR". AlphaNorth acquired the securities for investment purposes. Depending on market conditions, AlphaNorth may in the future increase or decrease its investment in Merus Labs.
An Early Warning Report respecting this acquisition will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under Merus Labs' profile and can be viewed at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
Steve Palmer
CEO
416-506-0797