Trade war to dominate meeting with premiers, prime minister
The premiers say they want to hear more about Carney's plans to respond to U.S. President Donald Trump's Aug. 1 deadline to get a trade deal done.
In a letter to Carney on July 10, Trump threatened to impose 35-per-cent tariffs on Canadian goods by Aug. 1, setting a new deadline for trade talks that were supposed to have wrapped up by now.
Carney said last week a trade deal with the U.S. will likely include some tariffs, and that he expects talks to intensify ahead of the Aug. 1 deadline.
The premiers also say they hope to learn more about possible nation-building projects Carney is considering.
Alberta Premier Danielle Smith says she is hoping to learn more about Carney's meeting with First Nation chiefs last week over their concerns about speeding up the development of pipelines and resource extraction projects in their territories.
This report by The Canadian Press was first published July 22, 2025.
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MINNEAPOLIS--(BUSINESS WIRE)--DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biopharmaceutical company focused on developing novel treatments for preeclampsia, fetal growth restriction and acute ischemic stroke, today announced the closing of its previously announced $30.1 million private placement of common shares to accredited investors. The Company sold approximately 8.6 million common shares at a purchase price of $3.50 per share. After deducting estimated offering expenses, the Company received net proceeds of approximately $29.9 million. The Company reported cash, cash equivalents and short-term investments of $37.3 million as of March 31, 2025. On a pro forma basis, including the estimated $29.9 million in net proceeds from the private placement, the Company's cash, cash equivalents and short-term investments would have been $67.2 million as of such date. The securities sold in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, or any state or other applicable jurisdiction's securities laws, and may not be offered or sold in the United States absent such registration or an applicable exemption therefrom. The Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the common shares issued in the private placement within ten (10) days following closing. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Company's securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Required Canadian Related Party Transaction Disclosure Certain non-management related parties of DiaMedica has participated in the private placement, acquiring the aggregate amount of $16.8 million or 4,799,999 common shares. Accordingly, the private placement constitutes a "related party transaction" as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101") of the Canadian Securities Administrators. The private placement is exempt from the valuation and the minority shareholder approval requirements of MI 61-101 under the exemptions contained in section 5.5(a) and 5.7(1)(a), respectively, as neither the fair market value of the common shares nor the fair market value of the consideration paid for the common shares insofar as it involves the related parties is more than 25% of the Company's market capitalization. The private placement was unanimously approved by a special committee comprised of independent members of the Company's board of directors. As the material change report relating to the completion of the private placement will be filed on SEDAR+ less than 21 days before the completion of the private placement, there is a requirement under MI 61–101 to explain why the shorter period is reasonable or necessary in the circumstances. In DiaMedica's view, the shorter period is reasonable and necessary in the circumstances because the related parties and the Company wished to complete the private placement in a fashion that resulted in the invested funds being received directly by the Company in a timely manner such that the funds could be accessed immediately by the Company to advance its ongoing research and development activities. Required Canadian Early Warning Reporting Upon closing of the private placement, Thomas von Koch (the 'von Koch'), Brahegatan 10, Box 3676 Stockholm, Sweden, will acquire indirect ownership, through TomEnterprise Private AB, of an aggregate of 2,857,142 common shares (the 'von Koch Shares') of DiaMedica (the 'von Koch Acquisition'). The Company's head office is located at 301 Carlson Parkway, Suite 210, Minneapolis, Minnesota, 55305, U.S.A. Immediately prior to the completion of the von Koch Acquisition, von Koch had ownership of, and exercised control and direction over, an aggregate of 5,526,435 common shares of the Company representing approximately 12.8% of the issued and outstanding common shares of the Issuer on a non-diluted basis. Immediately following the completion of the von Koch Acquisition, von Koch will have ownership of, and exercise control and direction over, an aggregate of 8,383,577 common shares of the Company representing approximately 16.2% of the issued and outstanding common shares of the Company on a non-diluted basis. von Koch will pay aggregate cash consideration of US$10,000,000 (approximately C$13,600,000) for the von Koch Shares at a price of US$3.50 per common share (approximately C$4.77). The von Koch Shares are being acquired for investment purposes. von Koch may, from time to time, take such actions in respect of his holdings in securities of the Company as he may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of the Company or the disposition of all or a portion of his security holdings in the Company, subject in each case to applicable securities laws and the terms of such securities. Upon closing of the private placement, Trill AB ('Trill'), Sveavägen 17, 18th Floor, SE-111 57, Stockholm, Sweden, acquired ownership of an aggregate of 1,542,857 common shares (the 'Trill Shares') of the Company (the 'Trill Acquisition'). Immediately prior to the completion of the Trill Acquisition, Trill had ownership of, and exercised control and direction over, an aggregate of 5,221,608 common shares of the Company representing approximately 12.1% of the issued and outstanding common shares of the Company on a non-diluted basis. Immediately following the completion of the Trill Acquisition, Trill will have ownership of, and exercise control and direction over, an aggregate of 6,764,465 common shares of the Company representing approximately 13.1% of the issued and outstanding common shares of the Company on a non-diluted basis. Trill will pay aggregate cash consideration of US$5,000,000 (approximately C$7,400,000) for the Trill Shares at a price of US$3.50 per common share (approximately C$4.77). The Trill Shares are being acquired for investment purposes. Trill may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of the Company or the disposition of all or a portion of its security holdings in the Company, subject in each case to applicable securities laws and the terms of such securities. Upon closing of the private placement, NFS/FMTC Roth IRA FBO Richard Jacinto II ('Jacinto'), c/o Fidelity Investments, 100 Crosby Parkway, Mail zone KC1H, Covington, KY 41015, will acquire ownership of an aggregate of 400,000 common shares (the 'Jacinto Shares') of the Company (the 'Jacinto Acquisition'). Immediately prior to the completion of the Jacinto Acquisition, Jacinto had ownership of, and exercised control and direction over, an aggregate of 4,558,823 common shares of the Company representing approximately 10.6% of the issued and outstanding common shares of the Company on a non-diluted basis. Immediately following the completion of the Jacinto Acquisition, Jacinto will have ownership of, and exercise control and direction over, an aggregate of 4,958,823 common shares of the Company representing approximately 9.6% of the issued and outstanding common shares of the Company on a non-diluted basis. Jacinto paid aggregate cash consideration of US$1,400,000 (approximately C$1,900,000) for the Jacinto Shares at a price of US$3.50 per common share (approximately C$4.77). The Jacinto Shares are being acquired for investment purposes. Jacinto may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares or other securities of the Company or the disposition of all or a portion of its security holdings in the Company, subject in each case to applicable securities laws and the terms of such securities. Pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, following the closing of the private placement, each of von Koch, Trill and Jacinto will file an early warning report in respect of the von Koch Acquisition, Trill Acquisition and Jacinto Acquisition, respectively, with the applicable Canadian securities regulators, copies of which will be available under the Company's profile at Following closing of the private placement, a copy of the early warning report relating to the von Koch Acquisition can be obtained by contacting von Koch at +46706034564, Per Colleen, CEO TomEqt Private AB. A copy of the early warning report relating to the Trill Acquisition can be obtained by contacting Trill at Sveavägen 17, 18th Floor, SE-111 57, Stockholm, Sweden. A copy of the early warning report relating to the Jacinto Acquisition can be obtained by contacting Jacinto at 301 Carlson Parkway, Suite 210, Minneapolis, MN 55305. The Canadian dollar values referred to above were determined using the Bank of Canada daily exchange rate on July 22, 2025. About DM199 DM199 is a recombinant (synthetic) form of human tissue kallikrein-1 (KLK1). KLK1 is a serine protease (protein) that plays an important role in the regulation of diverse physiological processes including blood flow, inflammation, fibrosis, oxidative stress and neurogenesis via a molecular mechanism that increases production of nitric oxide and prostaglandin. KLK1 deficiency may play a role in multiple vascular and fibrotic diseases such as stroke, chronic kidney disease, retinopathy, vascular dementia, and resistant hypertension where current treatment options are limited or ineffective. DiaMedica is the first company to have developed and clinically studied a recombinant form of the KLK1 protein. The KLK1 protein, produced from the pancreas of pigs and human urine, has been used to treat patients in Japan, China and South Korea for decades. DM199 is currently being studied in patients with acute ischemic stroke (AIS). In September 2021, the FDA granted Fast Track Designation to DM199 for the treatment of AIS. About DiaMedica Therapeutics Inc. DiaMedica Therapeutics Inc. is a clinical stage biopharmaceutical company committed to improving the lives of people suffering from serious ischemic diseases with a focus on preeclampsia, fetal growth restriction and acute ischemic stroke. DiaMedica's lead candidate DM199 is the first pharmaceutically active recombinant (synthetic) form of the KLK1 protein, an established therapeutic modality in Asia for the treatment of acute ischemic stroke, preeclampsia and other vascular diseases. For more information visit the Company's website at
