June 10, 2020 / 2:35 PM / 24 days ago

BRIEF-DelMar To Acquire Adgero Biopharmaceuticals

June 10 (Reuters) - DelMar Pharmaceuticals Inc:

* DELMAR TO ACQUIRE ADGERO BIOPHARMACEUTICALS, EXPANDS LATE-STAGE ONCOLOGY PIPELINE

* DELMAR PHARMACEUTICALS - UPON CLOSING OF DEAL, CO TO CHANGE NAME TO KINTARA THERAPEUTICS AND CONTINUE TRADING ON NASDAQ UNDER NEW SYMBOL “KTRA”

* DELMAR - IN AN ALL-EQUITY TRANSACTION, ADGERO STOCKHOLDERS WILL RECEIVE SHARES OF CO’S FOR SHARES OF ADGERO STOCK

* DELMAR PHARMA - UPON COMPLETION, CURRENT DELMAR, ADGERO STOCKHOLDERS WILL OWN 50.5% AND 49.5% OF TOTAL VOTING POWER OF COMBINED COMPANY, RESPECTIVELY

* DELMAR - FOLLOWING CLOSE OF DEAL, SAIID ZARRABIAN, CEO, WILL CONTINUE TO SERVE AS PRESIDENT AND CEO

* DELMAR - FOLLOWING CLOSE OF DEAL, CFO SCOTT PRAILL WILL CONTINUE AS CFO

* DELMAR PHARMACEUTICALS INC - COMBINED CO’S BOARD OF DIRECTORS WILL CONSIST OF 7 DIRECTORS, 4 OF WHICH WILL BE DESIGNATED BY CO

* DELMAR - EACH OF 1.5 MILLION OUTSTANDING WARRANTS TO PURCHASE ADGERO’S STOCK TO BE EXCHANGED FOR WARRANT TO PURCHASE CO’S STOCK BASED ON EXCHANGE RATIO Source text for Eikon: Further company coverage:

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