NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, BC. January 25, 2018 - Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products, is pleased to announce that, further to its news release dated January 11, 2018 announcing a proposed $300,000 equity financing, it now intends to complete the equity financing of 1,000,000 units of the Company (the "Units") at a price of $0.30 per Unit (the "Offering Price"), for aggregate gross proceeds of $300,000 (the "Offering") to a single subscriber that has recently been engaged by Aequus as a branding and marketing consultant under a prospectus supplement to the Company’s base shelf prospectus dated August 15, 2017, which prospectus supplement will be filed in the provinces of British Columbia, Alberta, Ontario, Saskatchewan and Manitoba. Each Unit shall consist of one common share of the Company and one non-transferrable common share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one common share at an exercise price of $0.50 for a period of twenty-four (24) months following the Closing Date. The Warrants will include an acceleration provision, exercisable at the Company’s option, if the Company's daily volume weighted average share price is greater than $0.85 for 10 consecutive trading days.
Aequus intends to use the net proceeds of the Offering for general corporate purposes, including branding and marketing. Securities issued under the Offering will be "restricted securities" as defined in U.S. federal securities laws. The Offering is expected to close on or about the week of January 29, 2018. Completion of the Offering subject to a number of conditions, including the execution of definitive documentation and receipt of any required regulatory approvals, including receipt of the approval of the TSX Venture Exchange for the listing of the common shares issuable on closing and issuable upon the exercise of the Warrants.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Aequus Pharmaceuticals
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus’ development stage pipeline includes several products in neurology and psychiatry with a goal of addressing the need for improved medication adherence through enhanced delivery systems. Aequus intends to commercialize its internal programs in Canada alongside its current portfolio of marketed established medicines and will look to form strategic partnerships that would maximize the reach of its product candidates worldwide. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca.