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HOUSTON and VANCOUVER, July 12,
2017 /CNW/ - ESSA Pharma Inc. (TSX: EPI; NASDAQ: EPIX) ("ESSA" or the "Company"), a clinical-stage pharmaceutical
company focused on the development of novel small molecule drugs for the treatment of prostate cancer, announced today that it
has undertaken an overnight marketed public offering (the "Offering") of securities (the "Securities") of the Company. The
Offering will be conducted in each of the provinces of British Columbia, Alberta and Ontario by way of a prospectus supplement to ESSA's base shelf
prospectus dated December 22, 2015 and elsewhere on a private placement basis. The Securities may
also be offered for sale in the United States through United
States registered broker-dealers. The number and type of securities to be distributed under the Offering and the price of
each security will be determined in the context of the market.
The Company expects to close the Offering during the week of July 17, 2017, subject to
satisfaction of customary closing conditions, including, but not limited to, the receipt of all necessary stock exchange
approvals, such as the final approval of the Toronto Stock Exchange and the NASDAQ Capital Market. The net proceeds of the
Offering will be used for the Company's pre-clinical and clinical development of the prostate cancer programs, as well as for
working capital and other general corporate purposes.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account or benefit of,
persons in the United States or "U.S. persons," as such term is defined in Regulation S
promulgated under the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S.
Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does
not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of
benefit of, persons in the United States or U.S. Persons.
About ESSA Pharma Inc.
ESSA is a clinical-stage pharmaceutical company focused on developing novel and proprietary therapies for the
treatment of castrate resistant prostate cancer ("CRPC") in patients whose disease is progressing despite treatment with current
therapies. ESSA believes that its product candidate, EPI-506, can significantly expand the interval of time in which patients
suffering from CRPC can benefit from hormone-based therapies. Specifically, EPI-506 acts by disrupting the androgen receptor
("AR") signaling pathway that drives prostate cancer growth. EPI-002, the primary metabolite of EPI-506, prevents AR
transcriptional activity by binding selectively to the N-terminal domain ("NTD") of the AR. A functional NTD is essential for
transactivation of the AR. In preclinical studies, blocking the NTD has demonstrated the capability to overcome the known
AR-dependent mechanisms of CRPC. ESSA was founded in 2009.
About Prostate Cancer
Prostate cancer is the second-most commonly diagnosed cancer among men and the fifth most common cause of male cancer
death worldwide (Globocan, 2012). Adenocarcinoma of the prostate is dependent on androgen for tumor progression and depleting or
blocking androgen action has been a mainstay of hormonal treatment for over six decades. Although tumors are often initially
sensitive to medical or surgical therapies that decrease levels of testosterone, disease progression despite castrate levels of
testosterone generally represents a transition to the lethal variant of the disease, mCRPC, and most patients ultimately succumb
to the illness. The treatment of mCRPC patients has evolved rapidly over the past five years. Despite these advances, additional
treatment options are needed to improve clinical outcomes in patients, particularly those who fail existing treatments including
abiraterone or enzalutamide, or those who have contraindications to receive those drugs. Over time, patients with mCRPC generally
experience continued disease progression, worsening pain, leading to substantial morbidity and limited survival rates. In both in
vitro and in vivo animal studies, ESSA's novel approach to blocking the androgen pathway has been shown to be effective in
blocking tumor growth when current therapies are no longer effective.
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 about the timing of the closing of the Offering, the satisfaction and timing of the receipt of
required stock exchange approvals and other conditions to closing of the Offering, the jurisdictions in which the securities will
be offered and the intended use of proceeds of the Offering.
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) the
Phase 1 portion of the Phase 1/2 clinical trial proceeding as expected; (iii) obtaining positive results of clinical trials; (iv)
obtaining necessary regulatory approvals; and (v) 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 14, 2016 under the heading "Risk
Factors", a copy of which is available on ESSA's profile at 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.
SOURCE ESSA Pharma Inc
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