DelMar Pharmaceuticals Inc. (BRRY.PK) announced the successful acquisition, through a share exchange agreement, of all of the outstanding shares of Del Mar Pharmaceuticals (BC) Ltd., a clinical and commercial stage drug development company with a focus on the treatment of cancer.
Concurrent with the Acquisition, DelMar completed the first closing in a private placement consisting of about 6.7 million units of its securities to qualified accredited investors, for total gross proceeds of approximately $5.4 million.
DelMar will be quoted on the OTC QB under the symbol “BRRY” beginning January 25th, 2013; the symbol will be changed to “DMPI” on or about January 31, 2013.
In connection with the Acquisition, DelMar issued to the former shareholders of DelMar Pharmaceuticals (BC) Ltd. the equivalent of 13,070,000 shares of its common stock.
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by RTT Staff Writer
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