VANCOUVER and HOUSTON,
April 13, 2020 /CNW/ - ESSA Pharma
Inc. ("ESSA", or the "Company") (Nasdaq: EPIX, TSX-V: EPI), a
pharmaceutical company focused on developing novel therapies for
the treatment of prostate cancer, today announced that it has
entered into an Open Market Sale AgreementSM (the "ATM
Sales Agreement") with Jefferies LLC, effective as of April 13, 2020. Under the ATM Sales Agreement,
ESSA may sell its common shares in the capital of the Company from
time to time for up to US$35.0
million in aggregate sales proceeds in "at-the-market"
transactions. No offers or sales of common shares will be made in
Canada, to anyone known by
Jefferies, LLC to be a resident of Canada or on or through the facilities of the
TSX Venture Exchange ("TSXV") or other trading markets in
Canada.
Before you invest in the securities offered, you should read the
prospectus supplement relating to and describing the terms of the
offering and the related registration statement on Form F-3 and
other documents that ESSA has filed with the Securities and
Exchange Commission (the "SEC") for more complete information about
ESSA and the offering. You may get these documents for free by
visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
copies of the prospectus supplement relating to the offering may be
obtained, when available, from: Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, telephone:
1-877-821-7388 or by emailing
Prospectus_Department@jefferies.com.
The offering described herein remains subject to the approval of
the TSXV.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities being offered, nor
may there be any sale of the securities being offered in any state
or other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any state or other jurisdiction.
About ESSA Pharma Inc.
ESSA is a pharmaceutical
company focused on developing novel and proprietary therapies for
the treatment of castration-resistant prostate cancer in patients
whose disease is progressing despite treatment with current
therapies. ESSA's proprietary "aniten" compounds bind to the
N-terminal domain of the androgen receptor ("AR"), inhibiting AR
driven transcription and the AR signaling pathway in a unique
manner which bypasses the drug resistance mechanisms associated
with current anti-androgens. The Company filed an IND with the U.S.
Food and Drug Administration for EPI-7386 in the first calendar
quarter of 2020.
Forward-Looking Statement Disclaimer
This release contains certain information which, as presented,
constitutes "forward-looking information" within the meaning of the
Private Securities Litigation Reform Act of 1995 and/or applicable
Canadian securities laws. Forward-looking information involves
statements that relate to future events and often addresses
expected future business and financial performance, containing
words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions and includes, but is not limited to, statements
regarding our expectations of our offering from time to time of
common shares in the capital of the Company pursuant to the ATM
Sales Agreement.
Forward-looking statements and information are subject to
various known and unknown risks and uncertainties, many of which
are beyond the ability of ESSA to control or predict, and which may
cause ESSA's actual results, performance or achievements to be
materially different from those expressed or implied thereby. Such
statements reflect ESSA's current views with respect to future
events, are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by ESSA as of the date of such statements,
are inherently subject to significant medical, scientific,
business, economic, competitive, political and social uncertainties
and contingencies. In making forward looking statements, ESSA may
make various material assumptions, including but not limited to (i)
the accuracy of ESSA's financial projections; (ii) obtaining
positive results of clinical trials; (iii) obtaining necessary
regulatory approvals; and (iv) general business, market and
economic conditions.
Forward-looking information is developed based on assumptions
about such risks, uncertainties and other factors set out herein
and in ESSA's Annual Report on Form 20-F dated December 19, 2019 under the heading "Risk
Factors", a copy of which is available on ESSA's profile on the
SEDAR website at www.sedar.com, ESSA's profile on EDGAR at
www.sec.gov, and as otherwise disclosed from time to time on ESSA's
SEDAR profile. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and ESSA undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as may be required by
applicable Canadian and United
States securities laws. Readers are cautioned against
attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE ESSA Pharma Inc