ESSA Pharma Inc.is pleased to announce that today it has undertaken overnight marketed public offering of equity 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 H.C. Wainwright & Co., as exclusive U.S. placement agent.

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 December 18, 2017.

The closing conditions, including, but not limited to, the receipt of all necessary stock exchange approvals, such as the conditional approval of the TSX Venture Exchange (the "TSXV") and the NASDAQ Capital Market.

The Company intends to use the net proceeds of the Offering primarily to continue the ongoing preclinical development of the Company's next-generation Aniten compounds.

The net proceeds will also be used for the interest and principal payments on the Company's outstanding debt and for working capital and general corporate purposes. 

The Securities have not been registered under the United States Securities Act of 1933, as amended,or any state securities laws, and accordingly, may not be offered or sold to.