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Pharmaceuticals Announces $1.5 Million Second Closing in Private Placement
Date:1/31/2013

VANCOUVER, British Columbia and MENLO PARK, Calif., Jan. 31, 2013 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (OTCQB: DMPI) ("DelMar") today announced the second closing in a private placement consisting of approximately 1.9 million units of its securities to qualified accredited investors, for gross proceeds of approximately $1.5 million. The total amount raised in the private placement is $6.9 million.

DelMar announced a first closing of $5.4 million on January 25, 2013.

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.

Jeffrey Bacha , Chief Executive Officer of DelMar, commented "We are pleased to announce this second closing to raise additional funds and are very encouraged by the overall level of investor interest in our private placement. We continue to enhance our financial position to expand and accelerate our drug development activities with our lead drug candidate, VAL-083." 

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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SOURCE DelMar Pharmaceuticals, Inc.
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