03:47 PM EST - Envoy Capital Group Inc. : and Merus Labs International Inc. announced the completion of their amalgamation, which formed a new company named "Merus Labs International Inc." In connection with the closing of the Arrangement, Envoy closed its private placement of 4,196,500 units of Envoy at a price per Envoy Unit of $2.00 for total gross proceeds of $8,393,000. As a result of the Arrangement, each Envoy Unit consists of one common share of Merus and one half of one warrant of Merus, which entitles the holder to purchase an additional Merus Share at an exercise price of $3.00 per Merus Share at any time until December 2, 2014. Envoy Capital Group Inc.
shares T.ECG are trading even at $2.00.
