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DiaMedica Accelerates Warrant Expiry Date
MINNEAPOLIS, Nov. 20, 2017 (GLOBE NEWSWIRE) -- DiaMedica (TSX-V:DMA) today on behalf of the board of directors announces that in accordance with the terms of the warrant indenture for warrants issued on April 18, 2017, the company has provided written notice to holders of such warrants that the expiry date has been accelerated to the close of business on December 11, 2017.
Under the terms of the April 18, 2017 warrant certificates, if the volume-weighted average closing trading price of the common shares on any recognized Canadian stock exchange equals or exceeds USD$0.30 for a period of 10 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. If all of the 2,631,579 outstanding warrants subject to this acceleration are exercised, DiaMedica will receive additional proceeds of USD$605,263. Any warrants not exercised prior to the accelerated expiry date and time will expire without any further action being taken.
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.
Vice President of Business Development
DiaMedica Therapeutics Inc.
Phone: (617) 899-5941
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 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.