The offering of up to 6 million units is priced at $0.10 per unit for gross proceeds of up to $600,000. Each unit consists of one share and one-half a warrant, with each full warrant exercisable at $0.20 for 1 year. DiaMedica is a biopharmaceutical company focused on developing innovative treatments for stroke and other vascular diseases where no current therapies are available.
DiaMedica Inc., symbol DMA on the TSX Venture Exchange, announced a non-brokered private placement.
The offering of up to 6 million units is priced at $0.10 per unit for gross proceeds of up to $600,000.
Each unit consists of one share and one-half a warrant, with each full warrant exercisable at $0.20 for 1 year.
DiaMedica is a biopharmaceutical company focused on developing innovative treatments for stroke and other vascular diseases where no current therapies are available.
The only universally approved stroke treatment is tissue plasminogen activator which can only be administered to patients within 4.5 hours of acute ischemic stroke.
DiaMedica's DM199 has been administered to close to 100 patients and demonstrated a safe and well tolerated profile.
The company is also studying the potential of DM199 for the treatment of acute kidney injury and other vascular diseases.
The proceeds will be used t9o support development with DM199 for the treatment of vascular diseases and for other working capital purposes.
The shares are trading at $0.135, and with 68 million shares outstanding, the company is capitalized at $9.2 million.
For more information on the company, please visit their website www.diamedica.com, contact Rick Pauls, President & CEO, at 763-270-0603 or email info@diamedica.com.