Laval, Québec, CANADA – February 7, 2012 – Acasti Pharma (“Acasti”) (TSX.V.APO), announces it has received from Dr. Harlan Waksal, Acasti’s Executive Vice-President, Business & Scientific Affairs, and Neptune Technologies & Bioressources (“Neptune”), Acasti’s parent company, commitments to purchase, by way of private placement, Acasti capital stocks for total net proceeds of approximately $2,000,000 CDN (the “Offering”).

Dr. Harlan Waksal has committed, subject to customary conditions, to purchase for an aggregate  consideration of $1,000,000 USD, 750,000 units of Acasti composed of (i) 750,000 class “A” common shares in the capital of Acasti at $1.33 USD per share, and (ii) warrants to purchase 750,000 additional shares. The warrants to purchase additional shares will be exercisable at a price of $1.50 CDN and will expire 36 months following their issue date. The warrants will be vesting over a period of two years and portion of such warrants will be subject to the achievement of certain agreed upon and predefined milestones.

Neptune has also committed, subject to customary conditions, to purchase 750,000 class “A” common shares in the capital of Acasti at $1.33 CDN per share, for an aggregate consideration of approximately $1,000,000 CDN.

The net proceeds of the Offering will be used for general corporate purposes (working capital). All securities issued in connection with the Offering will be purchased by persons or entities related to Acasti.  

The offering is subject to the TSX Venture Exchange approvals.    

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. The securities offered and sold in the private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.