Acerus Pharmaceuticals Corporation (TSX:ASP) announced that it has entered into a private placement agreement of 449,148,891 common shares at a price of CAD 0.053269 per share for aggregate gross proceeds of CAD 23,925,712.274679 on February 12, 2020. The transaction will include participation from returning investor First Generation Capital Inc. The transaction is subject to final approval of the Toronto Stock Exchange. The company expects to close the transaction on or about February 21, 2020. Post closing of the transaction, stake of the investor in the company will increase from 45.27% to 85.82%.