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ESSA Pharma commences offering

ESSA Pharma Inc. said it launched an overnight marketed public offering of its equity securities.

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 Dec. 22, 2015, and elsewhere via private placement.

The securities may also be offered for sale in the U.S. through 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 anticipates closing the offering in the week of Dec. 18, subject to closing conditions.

ESSA intends to use net proceeds from the offering to continue the ongoing preclinical development of the company's Aniten compounds, as well as for outstanding debt payment and general corporate purposes.