TSX VENTURE LISTING EXPECTED TO IMPROVE
OPERATING EFFICIENCY, LOWER COSTS AND PROVIDE ENHANCED FINANCING
FLEXIBILITY
COMPANY'S SHARES TO REMAIN LISTED ON NASDAQ
CAPITAL MARKET
VANCOUVER and HOUSTON, Nov. 22,
2017 /PRNewswire/ - ESSA Pharma Inc. (TSX: EPI; NASDAQ:
EPIX) ("ESSA" or the "Company"), a pre-clinical-stage
pharmaceutical company focused on the development of novel small
molecule drugs for the treatment of prostate cancer, today
announced that the Company is listing its common shares on the TSX
Venture Exchange (TSXV). ESSA expects that its common shares will
begin trading under symbol "EPI" on the TSXV on or about
November 27, 2017. Concurrently, the
Company has applied for the voluntary delisting of its common
shares, currently listed under symbol "EPI", from the Toronto
Stock Exchange TSX, which is currently anticipated to occur on or
about November 25, 2017. ESSA's
common shares will continue to be listed on the NASDAQ Capital
Market under symbol "EPIX".
"Following a thorough evaluation, ESSA's board of
directors determined that it was in the best interests of the
Company and its shareholders to list the Company's common shares on
the TSXV, while concurrently voluntarily delisting from the TSX,"
said Dr. David R. Parkinson,
President and Chief Executive Officer of ESSA. "We believe that a
listing on the TSXV will allow for improved operating efficiency,
lower costs and enhanced financing flexibility for the Company,
while providing shareholders continued liquidity on a recognized
stock exchange.
ESSA is not required to seek shareholder approval for the
delisting of its common shares from the TSX, as an acceptable
alternative market will exist for the common shares on or about the
anticipated delisting date.
About ESSA Pharma Inc.
ESSA is a preclinical-stage
pharmaceutical company focused on developing novel and proprietary
therapies for the treatment of CRPC in patients whose disease is
progressing despite treatment with current therapies. ESSA believes
that its proprietary compounds can significantly expand the
interval of time in which patients suffering from CRPC can benefit
from hormone-based therapies, by disrupting the AR signaling
pathway that drives prostate cancer growth and by preventing AR
transcriptional activity by binding selectively to the 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.
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 expected delisting of the Company's Common Shares from the TSX,
concurrent listing on the TSXV and the continued listing of the
Common Shares on the NASDAQ.
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