ESSA Pharma Inc. (EPIX) Prices 4.83M Share Common Offering at $27/Sh

ESSA Pharma Inc. (NASDAQ: EPIX), a clinical-stage pharmaceutical company focused on developing novel therapies for the treatment of prostate cancer, today announced the pricing of an underwritten public offering of 4,830,918 common shares at a public offering price of $27.00 per share, before underwriting discounts, for an aggregate offering of approximately $130.4 million (the "Offering"). ESSA has granted the underwriters a 30-day option to purchase, in whole or in part, up to an additional 724,637 shares of its common shares (the "Option"). The proceeds to ESSA from the Offering are expected to be approximately $121.6 million after deducting underwriting discounts and commissions and other estimated offering expenses but excluding any exercise of the Option. ESSA intends to use the net proceeds of the Offering for pre-clinical and clinical activities, chemistry, manufacturing and controls, research and development, as well as working capital and general corporate purposes. All common shares to be sold in the Offering will be offered by ESSA.

Jefferies and Piper Sandler are acting as joint book-running managers for the Offering. Oppenheimer & Co. is acting as lead manager for the Offering and Bloom Burton Securities Inc. is acting as co-manager for the Offering.

The securities described above are being offered by ESSA in the United States pursuant to a shelf registration statement on Form S-3 (File No. 333-250971) that was previously filed by ESSA with the Securities and Exchange Commission (the "SEC") and became effective on December 29, 2020 and in Canada pursuant to ESSA's Canadian short form base shelf prospectus (the "Canadian Base Shelf Prospectus") dated August 24, 2020 that was previously filed with the securities regulatory authorities in each of the provinces of British Columbia, Alberta and Ontario.

A preliminary prospectus supplement related to the Offering was filed with the SEC on February 16, 2021 and is available on the SEC's website at http://www.sec.gov and a final prospectus supplement related to the Offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.

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