TORONTO, ONTARIO--(Marketwired - Oct. 1, 2013) - Merus Labs International Inc. ("Merus" or the "Company") (TSX:MSL)(NASDAQ:MSLI) announced today that it received notice from the NASDAQ Stock Market ("NASDAQ") confirming that the Company has regained compliance with the $1.00 per share minimum bid price requirement for continued listing on the NASDAQ Capital Market.
On September 30, 2013, NASDAQ notified the Company that the closing bid price of its common stock has been at $1.00 per share or greater at least 10 consecutive trading days. Accordingly, NASDAQ has confirmed to the Company that it has regained compliance with the minimum bid price rule and the matter is now closed.
About Merus Labs International Inc.
Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. The Company 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.
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 as statements regarding Merus' cost of capital going forward. 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 integrate acquisitions or 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, unless required by law, we undertake no obligation to update or revise the statements.