DiaMedica Announces Restructuring
(firmenpresse) - MINNEAPOLIS, MINNESOTA -- (Marketwired) -- 12/09/14 -- DiaMedica Inc. (TSX VENTURE: DMA) today announced a company-wide restructuring aimed at preserving cash, reducing operating costs and re-positioning the Company going forward.
The Company''s restructuring includes a number of staff layoffs, including John Savage as Chief Financial Officer. DiaMedica plans to continue working with Mr. Savage on a part-time, consultancy basis.
"We believe these immediate actions, while difficult, are important for maintaining operations as we advance and transition development plans of DM199 for acute vascular indications affecting the kidneys, heart and brain," stated Rick Pauls, President & CEO.
About DiaMedica
DiaMedica is a publicly traded (TSX VENTURE: DMA) development stage biopharmaceutical company primarily focused on large unmet diseases including novel approaches to treat acute vascular diseases. DiaMedica''s lead product, DM199, is recombinant human tissue kallikrein-1 protein (rhKLK1). DiaMedica''s common shares are listed on the TSX Venture Exchange in Canada under the trading symbol ''DMA''.
FORWARD-LOOKING STATEMENTS
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. Forward looking statements in this news release include, but are not limited to, the Company''s objectives, goals, future plans and statements regarding its restructuring measures. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: uncertainties associated with raising additional capital, its ability to satisfy its current contractual obligations; timing and success of implementing current proposed restructuring measaures and any future measures; and the additional risk factors described in detail in the Prospectus and DiaMedica''s other filings with the Canadian securities regulators, all of which are available on SEDAR (). 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.
Contacts:
Rick Pauls
Chief Executive Officer
DiaMedica Inc.
763-270-0603
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Datum: 09.12.2014 - 17:30 Uhr
Sprache: Deutsch
News-ID 1324141
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Hospitals, Facilities and Providers
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