Merus Labs International Inc. Enters Into A Bought Deal for Gross Proceeds of C$60M

Merus Labs International Inc. (TSX:MSL) (NASDAQ: MSLI) ("MSL" or the"Company") has entered into an agreement with a syndicate of underwritersco-led by Clarus Securities Inc. and Cormark Securities Inc., and includingCanaccord Genuity Corp., Laurentian Bank Securities Inc., GMP SecuritiesL.P. and TD Securities Inc. (collectively, the "Underwriters"), pursuant towhich the Underwriters have agreed to purchase, on a bought deal basis,19,672,200 common shares (the "Common Shares") of the Company at a price ofC$3.05 per Common Share (the "Offering Price") for aggregate gross proceedsto MSL of C$60,000,210 (the "Offering"). The Company has also agreed to grant the Underwriters an over-allotmentoption to purchase an additional 2,950,830 Common Shares at the OfferingPrice, exercisable in whole or in part, for a period ending 30 daysfollowing the Closing Date. In the event the over-allotment option isexercised in full, the aggregate gross proceeds of the Offering will beC$69,000,242. The Common Shares will be offered in the provinces of Ontario, Alberta,Manitoba and British Columbia by short form prospectus, and in such otherjurisdictions, including the United States and in those jurisdictionsoutside of Canada and the United States which are agreed to by the Companyand the Underwriters, where the Common Shares can be issued on a privateplacement basis, exempt from any prospectus, registration or other similarrequirements. The Offering is expected to close on or about April 30, 2015 (the "ClosingDate") and is subject to certain conditions including, but not limited to,the receipt of all necessary approvals including the approval of the TorontoStock Exchange and the NASDAQ Stock Market. The Company intends to use the net proceeds from the Offering for futuregrowth, working capital and general corporate purposes. This press release shall not constitute an offer to sell or the solicitationof an offer to buy nor shall there be any sale of the securities in theUnited States or in any other jurisdiction in which such offer, solicitationor sale would be unlawful. The securities have not been registered under theUnited States Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration or an applicable exemptionfrom the registration requirements thereunder.