ESSA Pharma To Be Acquired By XenoTherapeutics; Shareholders Will Receive A Cash Payment Per Common Share That Will Be Determined Based Upon Essa's Cash Balance At Closing After Deducting Certain Transaction Costs, A Reserve For Liabilities And Legal Expenses And A Transaction Fee As Well As Contingent Value Right

Under the terms of the Business Combination Agreement, ESSA shareholders will receive a cash payment per Common Share that will be determined based upon ESSA's cash balance at closing after deducting certain transaction costs, a reserve for liabilities and legal expenses, and a transaction fee (the "Final Cash Amount"). In addition, each ESSA shareholder will also receive one non-transferable contingent value right (each, a "CVR") for each Common Share that entitles the holder to receive a pro rata portion of up to US$2,950,000 (up to US$0.06 per CVR) within 18 months following the close of the Transaction.