DiaMedica Therapeutics Announces Non-Brokered Private Placement
14 December 2017 - 8:48AM
DiaMedica Therapeutics Inc. (the “
Company”)
(TSX-V:DMA) (OTCQB:DMCAF), announces that, subject to TSX Venture
Exchange approval, it is undertaking a non-brokered private
placement for gross proceeds of approximately CAD$1 million
(approximately USD$780,000) with the issuance of 2,985,075 Units at
an issue price of CAD$0.335 (USD$0.26) (the
“
Offering”).
Each Unit consists of one common share and
one-half of one common share purchase warrant, with each whole
warrant entitling the holder thereof to acquire one additional
common share at an exercise price of USD$0.35 (approximately
CAD$0.45) per share until 5:00 p.m. (Central Time) on the date that
is: (i) twenty-four months after the date of issuance, or (ii) if
on any date (the “Accelerated Exercised Date”) (a)
the volume-weighted average closing trading price of the common
shares on any recognized Canadian stock exchange equals or exceeds
USD$0.60 for a period of 21 consecutive trading days, then, at the
Company’s sole discretion and upon the Company sending the holder
written notice of such Accelerated Exercise Date (the
“Notice”) and issuing a news release announcing
such Accelerated Exercise Date (the “News
Release”), the day that is 21 days following the later of:
(i) the date on which such Notice is sent to the holder; and (ii)
the date on which the News Release is issued.
The Offering is being offered on a non-brokered
private placement basis to accredited investors. The Company may
pay finder's fees in accordance with the rules and policies of the
TSX Venture Exchange ("TSXV"). The Offering
remains subject to the approval of the TSXV. The proceeds will be
used by DiaMedica to support the Phase 2 clinical development with
DM199 for acute ischemic stroke and for other working capital
purposes.
The common shares and warrants issued by the
Company under the Offering are subject to restrictions on resale in
accordance with applicable securities laws and the policies of the
TSX Venture Exchange. These restrictions will expire four months
and a day following the issuance of the Units. The Offering is
subject to final acceptance by the TSX Venture Exchange.
The Offering has been subscribed and is
scheduled to close on or about December 15, 2017, subject to
regulatory approvals.
About DM199
DM199 is a recombinant (synthetic) human tissue
kallikrein (“KLK1”) protein to treat neurological and chronic
kidney diseases. KLK1 is a naturally occurring enzyme with a
pivotal role in the kallikrein-kinin system (KKS) that regulates
blood pressure and local blood flow which has important role for
the treatment of diseases including acute ischemic stroke and
chronic kidney disease. DiaMedica has completed five clinical
trials with DM199, including single ascending and multiple
ascending doses, studies in diabetic patients, and a Phase 1b
pharmacokinetic study to confirm dosing strategies. In addition to
the current REMEDY TRIAL the drug has a good safety and
tolerability profile, DM199 showed the anticipated activity,
lowering blood pressure and kidney function, over the course of
treatment in multiple clinical studies.
About DiaMedica Therapeutics
Inc.
DiaMedica Therapeutics is a clinical stage
biopharmaceutical company focused on developing novel treatments
for neurological and kidney diseases. DiaMedica’s shares are listed
on the TSX Venture Exchange under the trading symbol “DMA” and on
the OTCQB under the trading symbol “DMCAF”. For more information,
please visit www.diamedica.com. Follow us on
social media – Twitter,
LinkedIn.
For further information, please
contact:Paul Papi Vice President of Business Development
DiaMedica Therapeutics Inc. Two Carlson Parkway, Suite 260
Minneapolis, MN Phone: (617) 899-5941 info@diamedica.com
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FORWARD-LOOKING STATEMENTS
The statements made in this press release that
are not historical facts contain forward-looking information that
involves risk and uncertainties. All statements, other than
statements of historical facts, which address DiaMedica's
expectations, should be considered forward-looking statements. Such
statements are based on management's exercise of business judgment
as well as assumptions made by and information currently available
to management. When used in this document, the words “may”, “will”,
“anticipate”, “believe”, “estimate”, “expect”, “intend” and words
of similar import, are intended to identify any forward-looking
statements. You should not place undue reliance on these
forward-looking statements. Forward looking statements in this news
release include, but are not limited to, the Company's objectives,
goals, future plans and statements regarding the use of proceeds
from the Offering. Factors that could cause actual results to
differ materially from such forward-looking information described
in detail in the DiaMedica's filings with the Canadian securities
regulators, all of which are available on SEDAR
(www.sedar.com). Should one or more of these risks
or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. DiaMedica
undertakes no obligation, and does not intend, to update, revise or
otherwise publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date
hereof, or to reflect the occurrence of any unanticipated events,
unless required by law. Although management believes that
expectations are based on reasonable assumptions, no assurance can
be given that these expectations will materialize.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the contents of this press release.
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