DelMar Pharmaceuticals completes acquisition and C$5.4 million private placement to advance novel cancer therapies
Date Closed
January 25, 2013
Lead Office
Vancouver
On January 25, 2013, DelMar Pharmaceuticals Inc. announced the successful acquisition, through a share exchange agreement, of all of the outstanding shares of DelMar 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 approximately 6.7 million units of its securities to qualified accredited investors, for total gross proceeds of approximately C$5.4 million.
McCarthy Tétrault LLP represented DelMar Pharmaceuticals, as acquiror and issuer, with a team led by David Frost.