TORONTO, Nov. 1 /CNW/ - Dimethaid Research Inc. (TSX: DMX) today
announced it has received gross proceeds of $1.25 million Cdn against the
issuance of 624,694 shares of common stock pursuant to its private placement
agreement with Acqua Wellington North American Equities Fund Ltd.
To date the company has realized approximately $22 million from the sale
of 5,869,421 common shares.
In January 2001, Dimethaid entered into a private placement agreement
with Acqua Wellington for equity financing covering the sale of up to $50
million of the company's common shares. The agreement was recently extended to
November 30, 2002.
About Dimethaid Research Inc.
Dimethaid Research Inc. is a publicly traded, Canadian, pharmaceutical
company headquartered in Markham, Ontario, with manufacturing facilities in
Varennes, Québec and Wanzleben, Germany. The company develops and
commercializes targeted therapeutic drugs that produce minimal side effects.
Currently, Dimethaid's two platform technologies focus on transdermal drug
delivery and revitalizing damaged immune systems. Products have potential
applications in such wide-ranging areas as relieving osteoarthritic pain and
combating the opportunistic infections associated with AIDS. For more
information, please visit www.dimethaid.com. |
