Acerus Announces Completion of Over-Subscribed Rights Offering

Acerus Pharmaceuticals Corporation (“Acerus” or the “Company”) (TSX: ASP, OTCQB: ASPCF) is pleased to announce the completion of its rights offering (the “Rights Offering”), which expired at 5:00 pm (EST) on November 24, 2020. The Rights Offering was over-subscribed and will result in the issuance of 526,600,000 common shares of Acerus at a price of $0.025 per share for gross proceeds of approximately $13,165,000. Although Acerus had a standby commitment in place with First Generation Capital Inc., no funding was required under the standby commitment.

Acerus is working with its transfer agent to calculate the amounts exercised under the basic subscription privilege and additional subscription privilege, in connection with the Rights Offering and will provide further details, including information required by National Instrument 45-106 – Prospectus Exemptions, once available.

About Acerus

Acerus Pharmaceuticals Corporation is a Canadian‐based specialty pharmaceutical company focused on the commercialization and development of innovative prescription products that improve patient experience, with a primary focus in the field of men’s health. The Company commercializes its products via its own salesforce in Canada, and through a global network of licensed distributors in the U.S. and other territories.

Acerus’ Common Shares trade on TSX under the symbol ASP and on OTCQB under the symbol ASPCF. For more information, visit www.aceruspharma.com and follow us on Twitter and LinkedIn.

Notice Regarding Forward-Looking Statements

The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein.

This news release contains certain "forward-looking statements" and "forward-looking information". Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward- looking statements or forward-looking information can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “project,” “estimate,” “expect,” “believe”, “future,” “likely,” “may,” “should,” “could”, “will” and similar references to future periods. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the provision of further details regarding the Rights Offering contained in this news release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements or information. Important risks, assumptions and factors that could cause actual results to differ materially from Acerus’ plans and expectations include the actual results of business negotiations; the Company’s ability to repay its debts and meet its financial covenants; adverse general economic, market or business conditions including those caused by the Covid-19 pandemic; regulatory changes and other risks and factors detailed herein and from time to time in the filings made by Acerus with securities regulators and stock exchanges, including in the section entitled “Risk Factors” in Acerus’ annual information form dated March 3, 2020 which is available at www.sedar.com. Any forward-looking statement or information only speaks as of the date on which it was made and, except as may be required by applicable securities laws, Acerus disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Acerus believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and accordingly, investors should not rely on such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005394/en/

Robert Motz
Chief Financial Officer
(905) 817-8288
[email protected].