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DelMar Pharmaceuticals Announces Change of Fiscal Year End and Provides Update on Glioblastoma Clinical Trial
Date:7/24/2014

VANCOUVER, British Columbia and MENLO PARK, Calif., July 24, 2014 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (OTCQB: DMPI) ("DelMar" "the company") announced today that the company's board of directors approved a change of the company's fiscal year from December 31 to June 30. Accordingly, DelMar will file a Transition Form 10K on or before September 30, 2014.

Jeffrey Bacha, president and CEO of DelMar stated, "The change to our year end is an important step in achieving our goal of obtaining a senior exchange listing for our shares."

"In addition to the change in year end, we are committed to working with our existing warrant holders in an effort to provide a source of non-dilutive capital and reduce our outstanding warrant liability," added Mr. Bacha. 

On June 6, 2014, DelMar reached agreement with certain warrant holders to reduce the warrant exercise price from $0.80 to $0.65 per share, resulting in gross proceeds of $2,373,937. Simultaneous to this exercise, the company filed a tender offer under the same terms to the holders of the remaining 9,195,478 warrants in the class. Details of these transactions can be found on the Company's website at: http://ir.delmarpharma.com/all-sec-filings#.

"The goal of the tender offer is simple: access non-dilutive capital to improve our financial position and at the same time reduce the derivative liability associated with the warrants. This will allow us to meet certain requirements to list our shares on a senior stock exchange in the United States. We believe that implementing strategies within our control that will enable us to meet the requirements to list on such an exchange in the timeliest manner possible will help us execute on our mission to increase shareholder value," state
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SOURCE DelMar Pharmaceuticals, Inc.
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