MINNEAPOLIS, MINNESOTA--(Marketwired - April 22, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
DiaMedica Inc. ("DiaMedica") (TSX VENTURE:DMA) is pleased to announce today that it has filed a preliminary short form prospectus (the "Prospectus") in connection with a public offering (the "Offering") of common shares of DiaMedica (the "Common Shares"). The Offering will be pursued on a commercially reasonable best efforts agency basis pursuant to an agency agreement to be entered into between DiaMedica and Paradigm Capital Inc. (the "Agent").
The Prospectus contemplates a minimum offering size of $2 million. The maximum offering size and price of the Common Shares will be determined by DiaMedica and the Agent in the context of the market.
DiaMedica intends to use the net proceeds from the Offering for research and development including a Phase II clinical trial, and for working capital and general and administrative purposes as described in the Prospectus.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly may not be offered or sold within the United States, except in transactions that do not require registration under the U.S. Securities Act or applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.
DiaMedica is a publicly traded (TSX VENTURE:DMA) clinical stage biopharmaceutical company focused on the discovery and development of novel therapies to treat diabetes and the complications associated with diabetes. DiaMedica's lead clinical stage compound, DM199, is a recombinant human protein known as rhKLK1 that represents a novel approach to treating diabetes and associated complications. DiaMedica is also developing a monoclonal antibody, DM204 for the treatment of Type 2 diabetes, which is in preclinical development.
DiaMedica's common shares are listed on the TSX Venture Exchange in Canada under the trading symbol 'DMA'.
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, including the intended use of the net proceeds of the Offering, 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, 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.