Business
Dacha to participate in Merus Labs bought deal financing
TORONTO , June 12, 2014 /CNW/ - Dacha Strategic Metals Inc. (TSX-V: DSM) ("Dacha") announ...
About this update from Koryx Copper S.a.
[{"type":"text","content":"\n\nTORONTO, June 12, 2014 /CNW/ - Dacha Strategic Metals Inc. (TSX-V: DSM) (\"Dacha\") announced today that it has agreed to subscribe for $5 million of common shares of Merus Labs International Inc. (\"Merus\") (TSX: MSL, NASDAQ: MSLI) at a price of $1.70 per share as part of the $27.2 million bought deal financing that Merus announced yesterday. \n\nAs Dacha announced on June 10, Dacha and Merus have entered into a letter agreement pursuant to which Dacha agreed to invest a minimum of $11 million in Merus in exchange for common shares of Merus. Dacha's $5 million subscription in the bought deal will count towards that commitment. The remaining not less than $6 million will be invested in Merus pursuant to the \"Newco Acquisition\" transaction (described in Dacha's June 10 press release) in which Dacha will contribute funds to a newly formed wholly-owned subsidiary and Merus will acquire that subsidiary in exchange for common shares of Merus. Dacha's subscription under the Merus bought deal is separate from and not conditional upon completion of the Newco Acquisition and accordingly Dacha will own $5 million of Merus common shares upon completion of the bought deal financing separate and apart from the Newco Acquisition.\n\nUpon completion of the Newco Acquisition, Dacha intends to distribute the Merus common shares that it owns, which would then represent substantially all of Dacha's assets, to its shareholders with a view to ultimately winding up its operations. This would involve, among other things, delisting Dacha's shares from the TSX Venture Exchange and Dacha ceasing to be a reporting issuer. \n\nForward-Looking Statements\n\nThis release contains certain \"forward looking statements\" and certain \"forward-looking information\" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as \"may\", \"will\", \"expect\", \"intend\", \"estimate\", \"anticipate\", \"believe\", \"continue\", \"plans\" or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to Dacha's participation in the Merus bought deal financing, the transactions contemplated under the June 10, 2014 letter agreement and Dacha's intention to distribute the Merus shares to its ...