ESSA Pharma Updates Proposed Equity Offering

ESSA Pharma (TSX:EPI; NASDAQ:EPIX) provided shareholders an update on their proposed equity offering.
As quoted in the press release:

Sufficient expressions of interest were received from investors to meet the proposed minimum offering threshold. The company was informed by financial regulators that the concentration of the proposed insider and institutional participation exceeded permitted levels and conditional approval was denied.   Therefore, the company will not proceed with the proposed offering but may consider alternative acceptable transaction structures.

Click here to read the full press release.

Source: www.newswire.ca