Ms. Jan D'Alvise reports

ACASTI PHARMA ANNOUNCES CLOSING OF C$27.6 MILLION UNDERWRITTEN PUBLIC OFFERING OF COMMON SHARES INCLUDING THE EXERCISE OF THE OVER-ALLOTMENT OPTION

Acasti Pharma Inc. has closed its previously announced underwritten public offering of 21,562,000 Class A shares of the company at a price of $1.28 per common share for aggregate gross proceeds to the company of $27.6-million (including, for certainty, 2,812,500 common shares issued pursuant to the exercise in full of the overallotment option by the underwriter for gross proceeds of $3.6-million) pursuant to an underwriting agreement dated Oct. 4, 2018, with Mackie Research Capital Corp. as sole bookrunner and underwriter.

As previously disclosed, on Oct. 11, 2018, the company announced the closing of its underwritten public offering in the United States at a price to the public of $1 (U.S.) per common share for total gross proceeds of $19.09-million (U.S.).

The net proceeds received from the offering are intended to be used by the company for the further development of CaPre and the completion of its Trilogy phase 3 clinical program, the planning and initiation of regulatory (new drug application) submission activities, the further optimization and scale-up of CaPre manufacturing activities, the expansion and maintenance of its intellectual property, the expansion and advancement of business development activities, as well as general administrative expenses, working capital and capital expenditures.

As consideration for the services rendered by the underwriter in connection with the offering, the company has paid the underwriter a cash commission equal to 6 per cent of the gross proceeds raised under the offering.

The common shares were issued pursuant to a short form prospectus dated Oct. 15, 2018, filed with the securities regulatory authorities in the provinces of Quebec, Ontario, Alberta, Manitoba and British Columbia. A copy of the prospectus is available under the company's profile on SEDAR.

For more information on the offering and the company's intended use of the net proceeds of the offering, please refer to the prospectus.

About Acasti Pharma Inc.

Acasti Pharma is a biopharmaceutical innovator advancing a potentially best-in-class cardiovascular drug, CaPre (omega-3 phospholipid), for the treatment of hypertriglyceridemia, a chronic condition affecting an estimated one-third of the U.S. population. Acasti's strategy is to commercialize CaPre in the United States and the company is pursuing partnerships to market CaPre in major countries around the world.

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