HOUSTON, TX and VANCOUVER, 12 ,. 15, 2017 /PRNewswire/ – ESSA Pharma Corporation. (TSXV: EPI NASDAQ: EPIX) (“ESSA” or even the “Company“) announces an update to the formerly announced prices pr release. The Organization intends to issue as much as 75,000,000 units of the organization (“Units“) in a cost of US$.20 per Unit (the “Offering Cost“) for aggregate gross proceeds as high as US$15 million (the “Offering“). Each Unit is going to be made up of one common share of the organization (a “Common Share“) and something common share purchase warrant (a “Warrant“). Each Warrant is going to be exercisable in a cost of US$.22 and entitle the holder thereof to get one common share of the organization (a “Warrant Share“) for 18 several weeks following a closing from the Offering, susceptible to acceleration in a few conditions.
The Offering is going to be carried out on the best efforts basis pursuant towards the conditions and terms of the agency agreement dated December 15, 2017 between the organization and also the Canadian agent because the Company’s sole agent for that Offering in Canada (the “Canadian Agent“). The cost and the amount of Units were based on settlement between the organization and also the Canadian Agent poor the marketplace.
The Organization grants towards the Canadian Agent an over-allotment option, exercisable anytime to the 30th day following a closing date from the Offering, to set up for that obtain the organization as high as time of more Units as is equivalent to 15% from the Units offered underneath the Offering on a single basis because the Units to pay for the Canadian Agent’s over-allocation position, or no, as well as for market stabilization purposes.
The Units can also be offered for purchase in the U . s . States through U . s . States registered broker dealers hired through the Canadian Agent. The selling group is going to be: (a) compensated a money commission comparable to 7.% from the gross proceeds from the Offering (with the exception of respect of Units issued in a few conditions to specified purchasers, by which situation the money commission will disappear to three.5%) and (b) issued broker warrants (the “Broker Warrants“) representing 5% from the aggregate quantity of Units issued and offered underneath the Offering. No Broker Warrants is going to be issuable regarding any Units bought in certain conditions to specified purchasers. Each Broker Warrant entitles the holder thereof to get one common share of the organization (a “Broker Warrant Share“) in the Offering Cost for 60 several weeks following a date from the Offering.
The Organization promises to make use of the internet proceeds from the Offering mainly to carry on the continuing preclinical growth and development of the business’s next-generation Aniten compounds. The internet proceeds may also be employed for the eye and principal payments around the Company’s outstanding debt as well as for capital and general corporate purposes.
The Organization will affect list the most popular Shares, Warrant Shares and also the Broker Warrant Shares around the TSX Venture Exchange (“TSXV“) and also the NASDAQ Capital Market (“NASDAQ“). Listing is going to be susceptible to satisfying all the needs from the TSXV and also the NASDAQ. The Organization expects to shut the Offering on or about December 21, 2017, or such other date as might be mutually decided to by the organization and also the Canadian Agent, susceptible to satisfaction of customary closing conditions, including, although not restricted to, the receipt of necessary stock market approvals, like the conditional approval from the TSXV and NASDAQ.
The Offering will be effected in each one of the provinces of Bc, Alberta and Ontario using a prospectus supplement dated December 15, 2017 to ESSA’s base shelf prospectus dated December 22, 2015 and elsewhere on the private placement basis.
The securities described herein haven’t been registered underneath the U . s . States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any condition securities laws and regulations, and accordingly, might not be offered or offered to, or the account or advantage of, persons in the U . s . States or “U.S. persons,” as a result term is determined in Regulation S promulgated underneath the U.S. Securities Act (“U.S. Persons“), with the exception of compliance using the registration needs from the U.S. Securities Act and relevant condition securities needs or pursuant to exemptions therefrom. This pr release doesn’t constitute a deal to market or perhaps a solicitation of the offer to purchase the Company’s securities to, or the account of great benefit of, persons in the U . s . States or U.S. Persons.
Forward-Searching Statement Disclaimer
This release contains certain information which, as presented, constitutes “forward-searching information” inside the concept of the non-public Securities Litigation Reform Act of 1995 and/or relevant Canadian securities laws and regulations. Forward-searching information involves statements that report to future occasions and frequently addresses expected future business and financial performance, that contains words for example “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that the action or event “may”, “might”, “could”, “should”, or “will” be used or occur, or any other similar expressions and includes, however is not restricted to, statements concerning the timing from the closing from the Offering, the satisfaction and timing from the receipt of needed stock market approvals along with other conditions to closing from the Offering, the jurisdictions where the Units is going to be offered and also the intended utilization of proceeds from the Offering.
Forward-searching statements and knowledge are susceptible to various known and unknown risks and uncertainties, a few of which are beyond ale ESSA to manage or predict, and which might cause ESSA’s actual results, performance or achievements to become materially not the same as individuals expressed or implied therefore. Such statements reflect ESSA’s current views regarding future occasions, are susceptible to risks and uncertainties and therefore are always based on numerous estimates and assumptions that, while considered reasonable by ESSA by the date of these statements, are inherently susceptible to significant medical, scientific, business, economic, competitive, political and social uncertainties and contingencies. For making forward searching statements, ESSA could make various material assumptions, including although not restricted to (i) the precision of ESSA’s financial projections (ii) acquiring good results of numerous studies (iii) acquiring necessary regulatory approvals and (iv) general business, market and economic conditions.
Forward-searching details are developed according to assumptions about such risks, uncertainties along with other factors put down herein as well as in ESSA’s Annual Set of Form 20-F dated December 11, 2017 underneath the heading “Risks”, a duplicate being on ESSA’s profile around the SEDAR website at world wide web.sedar.com, ESSA’s profile on EDGAR at world wide web.sec.gov, so that as otherwise disclosed every so often on ESSA’s SEDAR profile. Forward-searching statements are created according to management’s beliefs, estimates and opinions around the date that statements are created and ESSA undertakes no obligation to update forward-searching statements if these beliefs, estimates and opinions or any other conditions should change, except as might be needed by relevant Canadian and U . s . States securities laws and regulations. Visitors cautioned against attributing undue certainty to forward-searching statements.
Neither the TSXV nor its Regulation Company (as that term is determined within the policies from the TSXV) accepts responsibility for that adequacy or precision of the release.
SOURCE ESSA Pharma Corporation
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