Acerus Pharmaceuticals Corporation Announces Closing of Private Placement

March 29, 2019 Off By BusinessWire

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TORONTO–(BUSINESS WIRE)–Acerus Pharmaceuticals Corporation (the “Company”) (TSX:ASP) is
pleased to announce that it has closed a non-brokered private placement
(the “Private Placement”) of 23,230,772 common shares of the
Company (the “Common Shares”) to directors and management of the
Company at a price of $0.195 per Common Share for aggregate proceeds of
approximately $4.53 million.

The Company intends to use the net proceeds from the Private Placement
to fund the Company’s current working capital requirements, including
(i) to support its current payment on a royalty buyout for intellectual
property related to the Company’s nasal gel technology for Natesto®,
(ii) for purposes of deposits to build its inventory in advance of
receiving European approval of Natesto® and (iii) ongoing
selling, general and administrative expenses and research and
development requirements.

The securities issued pursuant to the Private Placement have not
been, and will not be, registered under the U.S. Securities Act of 1933,
as amended, and may not be offered or sold in the United States absent
registration or an exemption from the registration requirements. This
press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
State in which such offer, solicitation or sale would be unlawful.

About Acerus Pharmaceuticals Corporation

Acerus Pharmaceuticals Corporation is a Canadian-based specialty
pharmaceutical company focused on the development, manufacture,
marketing and distribution of innovative, branded products that improve
patient experience, with a primary focus in the field of men’s and
women’s health. The Company commercializes its products via its own
salesforce in Canada, and through a global network of licensed
distributors in the U.S. and other territories.

Forward-Looking Information

Information in this press release that is not current or historical
factual information may constitute forward-looking information within
the meaning of securities laws. Implicit in this information are
assumptions regarding our future operational results. These assumptions,
although considered reasonable by the company at the time of
preparation, may prove to be incorrect. Readers are cautioned that
actual performance of the company is subject to a number of risks and
uncertainties, and could differ materially from what is currently
expected as set out above. For more exhaustive information on these
risks and uncertainties you should refer to our annual information form
dated March 4, 2019 that is available at
www.sedar.com.
Forward-looking information contained in this press release is based on
our current estimates, expectations and projections, which we believe
are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. While we may elect to, we are under no
obligation and do not undertake to update this information at any
particular time, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.

Contacts

Robert Motz
Chief Financial Officer
Acerus Pharmaceuticals
Corporation
[email protected]
(905)
817-8288