Aequus Announces Closing of $300,000 Equity Financing

VANCOUVER, BC--(Marketwired - January 31, 2018) -

NOT FOR DISTRIBUTION OR DISSEMINATION INTO THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Aequus Pharmaceuticals Inc. (TSX VENTURE: AQS) (OTCQB: AQSZF) ("Aequus" or the "Company"), a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products, is pleased to announce that, further to its news release dated January 25, 2018 announcing a change to the proposed $300,000 equity financing, Aequus has now completed the equity financing of 1,000,000 units of the Company (the "Units") at a price of $0.30 per Unit (the "Offering Price"), for aggregate gross proceeds of $300,000 (the "Offering") to a single subscriber that has recently been engaged by Aequus as a branding and marketing consultant under a prospectus supplement to the Company's base shelf prospectus dated August 15, 2017, which was filed in the provinces of British Columbia, Alberta, Ontario, Saskatchewan and Manitoba. Each Unit consists of one common share of the Company and one non-transferrable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.50 for a period of twenty-four (24) months following the closing date. The Warrants include an acceleration provision, exercisable at the Company's option, if the Company's daily volume weighted average share price is greater than $0.85 for 10 consecutive trading days.

Aequus intends to use the net proceeds of the Offering for general corporate purposes, including branding and marketing. Securities issued under the Offering are "restricted securities" as defined in U.S. federal securities laws.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.