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DelMar Pharmaceuticals Announces $1.6 Million Closing in Private Placement
Date:2/25/2013

VANCOUVER, British Columbia and MENLO PARK, Calif., Feb. 25, 2013 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (OTCQB: DMPI) ("DelMar") today announced the fourth closing in a private placement consisting of approximately 2.0 million units of its securities to qualified accredited investors, for gross proceeds of approximately $1.6 million. The total amount raised in the private placement to date is $9.5 million.

Charles Vista, LLC acted as the company's placement agent in the unit offering. Each unit consists of one share of common stock and one common stock purchase warrant.  The maximum offering in the Private Placement consisted of 9,375,000 units for gross proceeds of $7.5 million.  In addition, the placement agent has been granted an over-allotment option of up to 3,125,000 units to cover over-subscriptions for additional gross proceeds of up to $2.5 million.  The over-allotment option is being exercised in part in connection with this closing.

About DelMar Pharma

Del Mar Pharmaceuticals was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. The Company's lead asset, VAL-083, is currently undergoing clinical trials in the United States as a potential treatment for refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.  VAL-083 benefits from extensive clinical research sponsored by the US National Cancer Institute, and is currently approved for the treatment of chronic myelogenous leukemia (CML) and lung cancer in China. Published pre-clinical and clinical data suggest that VAL-083 may be active against a range of tumor types via a novel mechanism of action.

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