MINNEAPOLIS, MINNESOTA--(Marketwired - Jan. 22, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DiaMedica Inc. (TSX VENTURE:DMA), is pleased to announce that the agent, Jordan Capital Inc., of its previously announced public offering (the "Offering") of 2,888,910 units has exercised its over-allotment option to sell an additional 31,000 units issuable upon exercise of the over-allotment option (the Agent having exercised the over-allotment option to sell an additional 110,910 units on the closing date of the Offering), resulting in the issuance of an additional 31,000 units at a price of $0.90 per unit for gross proceeds of $27,900. This issuance increases the total gross proceeds from the Offering to $2,627,919.
As with the net proceeds from the Offering that closed on December 23, 2013, the net proceeds from the exercise of the over-allotment option will be used to fund DiaMedica's research and development, including a Phase II clinical trial for Type 2 diabetes, and for working capital and general and administrative purposes.
DiaMedica Inc. (TSX VENTURE:DMA) is a biotechnology company developing first-in-class treatments for the treatment of diabetes. DiaMedica's lead compound, DM199, is a recombinant human protein for the treatment of both Type 1 and Type 2 diabetes and their complications. The Company is also developing the first therapeutic GPCR agonist monoclonal antibody, DM204, for the treatment of Type 2 diabetes and cardiovascular disease. DiaMedica's shares trade on the TSX Venture Exchange (TSX VENTURE:DMA). For more information please visit www.diamedica.com.
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.