Aequus Pharmaceuticals Inc. has closed its financing pursuant to its prospectus supplement dated March 6, 2017, to a base shelf prospectus dated June 30, 2015, which was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the securities commissions of each of the provinces of British Columbia, Alberta, Manitoba, Saskatchewan and Ontario on July 6, 2015, pursuant to the provisions of the applicable securities acts.

The TSX Venture Exchange has been advised that the offering closed on March 13, 2017, and the full exercise of the overallotment option, for gross proceeds of $5,175,000.

Underwriters:  Canaccord Genuity Corp.

Offering:  17.25 million units; each unit consists of one common share of Aequus and one-half of one share purchase warrant, where each whole warrant entitles the holder to acquire one additional share at a price of 45 cents per common share for a period of 24 months following closing, subject to adjustment and acceleration in certain circumstances

Unit price:  30 cents

Underwriter warrants:  The agents received 862,500 broker warrants. Each underwriter warrant entitles the holder to acquire a unit at the offering price for a period of 24 months following closing.

Overallotment option:  The underwriters were granted an option to purchase an additional 2.25 million units at the offering price for a period of up to 30 days from the closing of the offering. The overallotment option has been exercised in full.