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May 1, 2015

Merus Labs International Inc. (TSX: MSL, NASDAQ:MSLI) closed a $60 million bought deal financing with a syndicate of investment dealers on April 30, 2015.

Under the financing, Merus issued a total of 19,672,200 common shares at a price of $3.05 per share for gross proceeds of $60 million. The underwriters were granted a 30 day over-allotment option to increase the gross proceeds of the financing to $69 million.

Merus is a specialty pharmaceutical company which focuses on acquiring established products and is traded in Canada on the Toronto Stock Exchange and in the United States on the NASDAQ Capital Market.

McMillan represented Merus on the transaction and assisted Merus in filing and clearing a short form prospectus with Canadian securities commissions in connection with the financing. The McMillan team led by Michael Taylor also included Christine Man (Tax), Daniel Lau and Alice Lin (Capital Markets). Stikeman Elliot represented the underwriters.