Aug 10 (Reuters) - Aralez Pharmaceuticals Inc ARZ.TO :
* PRESS RELEASE - ARALEZ PHARMACEUTICALS TO ENTER INTO PURCHASE AGREEMENTS TO SELL SUBSTANTIALLY ALL ASSETS
* ARALEZ PHARMACEUTICALS TO ENTER INTO PURCHASE AGREEMENTS TO SELL SUBSTANTIALLY ALL ASSETS
* ARALEZ PHARMACEUTICALS INC - TRANSACTIONS TO BE VALUED AT AN AGGREGATE OF U.S.$250 MILLION
* ARALEZ PHARMACEUTICALS INC - COMMENCES VOLUNTARY PROCEEDINGS UNDER CCAA IN CANADA AND CHAPTER 11 IN UNITED STATES
* ARALEZ PHARMACEUTICALS - INTENDS TO ENTER INTO PURCHASE AGREEMENTS WITH TWO SEPARATE STALKING-HORSE PURCHASERS TO SELL ITS MAIN OPERATING BUSINESSES
* ARALEZ PHARMACEUTICALS INC - TO SELL VIMOVO ROYALTIES AND CANADIAN OPERATIONS TO NUVO PHARMACEUTICALS IN A TRANSACTION VALUED AT U.S.$110 MILLION
* ARALEZ PHARMACEUTICALS INC - INTENDS TO WIND DOWN ITS OPERATIONS FOLLOWING CONSUMMATION OF SALES
* ARALEZ PHARMACEUTICALS - TO SELL TOPROL-XL FRANCHISE TO CERTAIN FUNDS MANAGED BY DEERFIELD MANAGEMENT CO LP, IN A TRANSACTION VALUED AT U.S.$140 MILLION
* ARALEZ PHARMACEUTICALS - ALSO ENGAGED IN ONGOING EFFORTS TO SELL ASSETS NOT BEING SOLD IN EITHER OF PROPOSED TRANSACTIONS
* ARALEZ PHARMACEUTICALS - HAS AGREED TO NEGOTIATE EXCLUSIVELY WITH NUVO UNTIL AUGUST 19
* ARALEZ PHARMACEUTICALS INC - HAS OBTAINED COMMITMENTS FOR DEBTOR-IN-POSSESSION FINANCING OF APPROXIMATELY U.S.$15 MILLION, FROM ITS SECURED LENDER
* ARALEZ - INTENDS TO USE PROCEEDS FROM DIP FINANCING AND CASH FLOW FROM OPERATIONS, TO PAY FOR ALL GOODS, SERVICES FROM VENDORS PROVIDED AFTER CCAA
* ARALEZ - CO AND UNITS HAVE ALSO FILED NUMBER OF CUSTOMARY PLEADINGS SEEKING AUTHORIZATION FROM COURTS TO PAY CERTAIN PRE-PETITION OBLIGATIONS
* ARALEZ PHARMACEUTICALS - SIZE OF BOARD HAS BEEN REDUCED TO FOUR MEMBERS FOR EFFICIENT RESTRUCTURING PROCEEDINGS
* ARALEZ - DIRECTOR ROB HARRIS ABSTAINED FROM VOTING ON SALE MATTERS DUE TO A "POTENTIAL CONFLICT OF INTEREST"