DelMar Pharmaceuticals Announces Reverse Stock Split in Preparation for Proposed Senior Exchange Uplisting

DelMar Pharmaceuticals (OTCQX:DMPI) announced a 1-for-4 reverse stock split of its authorized, issued and outstanding common stock in preparation for its planned uplisting to a senior stock exchange.  The Company anticipates the reverse stock split will become effective and its common stock to begin trading on a post-split basis at the open of trading on May 20, 2016.
The reverse stock split is intended to fulfill the minimum stock price requirement as part of the criteria for listing the Company’s common stock on a senior stock exchange.  There can be no assurance that the Company’s application for listing to a senior stock exchange will be approved after the reverse stock split is completed.
DelMar Pharmaceuticals CEO and Chairman, Jefferey Bacha, stated:

The execution of this reverse split represents an important step in achieving an essential corporate objective:  Uplisting to a US senior stock exchange. A senior exchange listing allows companies to attract a broader range of investors and to increase share liquidity.  I, together with the rest of the Board, am pleased to be moving forward toward this important goal.

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