DiaMedica Inc. Announces Filing of Final Prospectus
July 07 2011 - 4:05PM
Marketwired
DiaMedica Inc. ("DiaMedica" or the "Company") (TSX VENTURE: DMA),
announced today that it has filed a final short form prospectus,
dated July 7, 2011 relating to its previously announced offering
(the "Offering") of units of the Company (the "Units"). The Company
will offer 2,700,000 Units with each Unit consisting of one common
share in the capital stock of the Company (a "Common Share") and
one common share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder thereof to purchase one additional Common Share
for the price of $1.50 within two years from the initial closing
date of the Offering, subject to an acceleration of the expiry date
of such Warrants in certain circumstances as more particularly
described in the Prospectus (as defined below).
Sora Group Wealth Advisors Inc. (the "Agent") will offer on a
"commercially reasonable efforts" agency basis, pursuant to an
agency agreement dated as of the date hereof (the "Agency
Agreement"), 2,700,000 Units at a price of $1.25 per Unit for gross
proceeds to the Company of $3,375,000. The Company has granted to
the Agent an option exercisable in whole or in part at any time
prior to the closing date of the Offering, to increase the number
of Units offered by up to 15% on the same terms and conditions.
The Company has received the conditional approval of the TSX
Venture Exchange (the "Exchange") for the listing of Common Shares
forming part of the Offering. Listing is subject to DiaMedica
satisfying all requirements of the Exchange.
The closing of the Offering is anticipated to take place on or
about July 21, 2011, or such other date as the Agent and the
Company may determine in accordance with the Agency Agreement and
applicable laws.
About DiaMedica
DiaMedica is a biopharmaceutical company that develops novel
therapeutic products designed to improve the lives of people with
Type 1 diabetes, Type 2 diabetes and other large, medically unmet
diseases. DiaMedica's lead product candidate, DM-199, has been
shown to protect and proliferate beta cells and significantly
improve glucose metabolism in preclinical models.
The Company is listed on the TSX Venture Exchange under the
trading symbol 'DMA'.
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. These statements reflect a current view of future
events and are subject to certain risks and uncertainties as
contained in the Company's filings with Canadian securities
regulatory authorities. 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. The Company
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.
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 News Release.
Contacts: DiaMedica Inc. Rick Pauls President and CEO
204.477.7590 rpauls@diamedica.com
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