Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Shareholders' Equity

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Note 11 - Shareholders' Equity
 9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
1
1
.
Shareholders’ Equity
 
Authorized capital stock
 
The Company has authorized share capital of an unlimited number of voting common shares and the shares do
not
have a stated par value.
 
Common shareholders are entitled to receive dividends as declared by the Company, if any, and are entitled to
one
vote per share at the Company's annual general meeting and any special meeting.
 
Equity issued
during
the
nine
months ended
September 30,
201
9
 
During the
nine
months ended
September 30, 2019,
50,000
common shares were issued on the exercise of options for gross proceeds of
$75,000
and
no
warrants were exercised.
 
Equity issued
during
the
nine
months ended
September 30,
2018
 
On
March 29, 2018,
the Company completed, in
two
tranches, a brokered and non-brokered private placement of
1,322,965
units at a price of
$4.90
per unit for aggregate gross proceeds of approximately
$6.3
million. Each unit consisted of
one
common share and
one
half of
one
common share purchase warrant. The Company issued
661,482
warrants. Each warrant entitles the holder to purchase
one
common share at a price of
$7.00
at any time prior to expiry on
March 19, 2020
and
March 29, 2020
for Tranche
1
and Tranche
2,
respectively. The warrants are subject to early expiry under certain conditions. The warrant expiry date can be accelerated at the option of the Company, in the event that the volume-weighted average trading price of the Company’s common shares exceeds
$12.00
per common share for any
21
consecutive trading days. In connection with this offering, the Company paid aggregate finder’s fees of approximately
$384,000
and issued an aggregate of
80,510
compensation warrants. Each compensation warrant entitles the holder to purchase
one
common share at
$4.90
for a period of
2
years from the closing of the offering, subject to acceleration on the same terms as the common share purchase warrants.
 
During the
nine
months ended
September 30, 2018,
128,594
common shares were issued on the exercise of warrants for gross proceeds of
$521,000
and
16,954
common shares were issued on the exercise of options for gross proceeds of
$43,000.
 
Shares reserved
 
Common shares reserved for future issuance are as follows:
 
   
September 30
, 2019
  
Stock options outstanding
    
1,251,893
  
Deferred share units outstanding
    
21,183
  
Shares available for grant under the DiaMedica Therapeutics Inc. Stock Option Plan
    
1,372,675
  
Common shares issuable under common share purchase warrants
    
807,563
  
Total
    
3,453,314