Life Science News

OTCQX:DMPI

DelMar Pharmaceuticals (OTCQX:DMPI) announced a closing of a private placement of Preferred Shares for gross proceeds of $5.6 million, and the restructuring of 2,095,238 warrants.

DelMar Pharmaceuticals (OTCQX:DMPIannounced a closing of a private placement of Preferred Shares for gross proceeds of $5.6 million, and the restructuring of 2,095,238 warrants. These steps enable DelMar to substantially improve its balance sheet, remove a significant portion of the derivative liability from its balance sheet and help position the Company to qualify to list its common stock on a senior exchange.
DelMar Pharmaceuticals Chairman and CEO, Jeffrey Bacha, stated:

We believe the structure of this preferred share financing, with no warrants, provides motivation for our investors to maintain a long-term interest in our shares as we continue to build our company. This infusion of new capital and the decrease in derivative liability are part of a broader strategy to pursue a senior listing, a goal that we believe will allow us to attract a wider range of institutional investors and increase share liquidity, which in turn should increase shareholder value.

Connect with DelMar Pharmaceuticals (OTCQX:DMPI) to receive an Investor Presentation.

Featured

MARKETS

Markets
TSX20570.39+186.64
TSXV714.25+12.51
DOW32711.57+591.29
S&P 5004066.66+87.93
NASD11766.31+331.57
ASX7155.20+26.40

COMMODITIES

Commodities
Gold1849.17-4.88
Silver21.93-0.05
Copper4.27+0.01
Palladium2012.50+14.50
Platinum950.50+3.50
Oil114.56+4.23
Heating Oil3.87+0.12
Natural Gas8.92-0.05

DOWNLOAD FREE REPORTS

×