ESSA Pharma Inc. Seeks Interim Court Order for Shareholder Cash Distribution

ESSA Pharma Inc. Seeking Court Approval for Shareholder Distribution

SOUTH SAN FRANCISCO, Calif. and VANCOUVER, BC, July 23, 2025 – ESSA Pharma Inc. (NASDAQ: EPIX) has made a significant announcement regarding its upcoming business combination with XenoTherapeutics, Inc., a non-profit biotech entity. The company plans to apply to the Supreme Court of British Columbia for two critical orders aimed at facilitating this transaction.

Background on the Proposed Transaction

The proposed transaction involves the acquisition of all issued common shares of ESSA by Xeno. As part of this process, ESSA is set to request an interim order that will authorize a special meeting where shareholders can approve the transaction. Additionally, ESSA is seeking a distribution order that will allow for an initial cash disbursement to its shareholders prior to the transaction's completion.

Details of the Cash Distribution

Should the court approve the Distribution Order, shareholders are expected to receive approximately US$1.91 per common share. This amount is exclusive of any contingent value rights that may be attached to the transaction. The aim of this cash distribution is to expedite the process, enabling shareholders to access funds before the transaction's finalization.

Court Hearing Schedule

The hearing for these orders is scheduled for August 5, 2025, at the Supreme Court located at 800 Smithe Street, Vancouver, British Columbia. The hearing will begin at 9:45 a.m. (Pacific time). Interested parties who may be affected by the proposed orders are welcome to attend and present their evidence or arguments.

In compliance with court regulations, ESSA plans to file its Petition Record on July 31, 2025, just one business day before the hearing. To be included in the petition record, any response materials from interested parties must reach ESSA's counsel by 1:00 p.m. (Vancouver time) on the same date.

The Future of ESSA Pharma

ESSA Pharma has previously concentrated on developing innovative therapies targeted at prostate cancer. With this strategic shift towards a merger with Xeno, the company is poised for a transformative phase. As they navigate this new landscape, the approval sought from the Supreme Court will play a crucial role in defining the future trajectory of the firm.

In light of potential uncertainties tied to the transaction, ESSA has made it clear that this announcement includes forward-looking statements. These statements entail expectations pertaining to future performance and materialize through terms like “anticipate,” “believe,” “plan,” “estimate,” “expect,” and “intend.” Such statements carry inherent risks and uncertainties, many outside ESSA's control, which could result in actual outcomes differing from current expectations.

Closing Thoughts

With the upcoming court orders, ESSA Pharma Inc. is entering a pivotal chapter. The impending cash distribution to shareholders marks a significant step in demonstrating the company's commitment to its investor base, even amidst substantial changes. For future updates, stakeholders are encouraged to monitor the official ESSA website and utilize available resources for comprehensive information on the proposed transaction and related matters.

For further details, visit www.essapharma.com.