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United Pharmaceuticals International Announces Completion of Private Placement
Hamilton, Bermuda November 28, 2013 - United Pharmaceuticals International, Ltd (the "Company"). a public company traded on the Bermuda Stock Exchange under Ticker Symbol: UPI.BH, announced today that the Company has completed a Private Placement of 4 million Ordinary Shares subscribed to by United Pharmaceuticals International of Canada.
The Private Placement was completed in order to fulfill the terms whereby the Company consummates its purchase of 100% of the Membership Ownership Interest of Gulf Coast Pharmaceuticals Plus, LLC a pharmaceutical and medical supply company operating in the United States. United CEO Debra Ritchey commented, "We are pleased to have progressed with our acquisition of Gulf Coast and look forward to growing our business significantly in calendar 2014."
About United Pharmaceuticals International, Ltd:
United Pharmaceuticals International, Ltd. is a holding company formed for identifying, targeting and acquiring specialty pharmaceutical distribution companies both in the United States and Europe. United has entered into an agreement to acquire 100% of the Membership Interest of Gulf Coast Pharmaceuticals Pus, LLC ("Gulf Coast"), a Mississippi United States based company.
About Gulf Coast:
Gulf Coast, a pharmaceutical distribution company operating since 2008, identifies scarce drugs and sources a wide variety of drugs, medical devices and ostomy supplies for resale. Gulf Coast specializes in sourcing products that are in scarce supply from a broad base of over 25,000 different dugs including antibiotics, antivirals, diabetes treatments, respiratory medicines, infusion compounds, ophthalmic preparations, glucocorticoids and unit dose solutions.
The company cautions investors that any forward-looking statements or projections made by the company, including those made in this Announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Group's operations are described under 'Risk factors' in the 'Business Review' in the company's website.
This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of United Pharmaceutical International, Ltd.
Investors and security holders are urged to read each of these documents carefully when they are available.
In addition, investors and security holders will be able to obtain free copies of these documents by contacting the Investor Relations departments of United Pharmaceuticals International, ltd.
