$DMPI Due Diligence

‘424B4’ on 5/29/19

-On May 8, 2019, they effected a one-for-ten reverse stock split 

-Unit= 1 share of Series C Convertible Preferred Stock and 125 warrants

– Preferred Stock has a conversion price of $4.00 per share

-Each Warrant will be exercisable for one share of our common stock
@ an exercise price of $4.40 per share

– Broadridge Corporate Issuer Solutions, Inc. will serve as the Subscription and Information Agent for the Rights Offering. 

– We are also registering the shares of common stock issuable upon conversion of the Series C Preferred Stock and exercise of the Warrants.

– We are authorized to issue up to 12,000,000 shares of capital stock, including 7,000,000 shares of common stock, and 5,000,000 shares of preferred stock

– As of March 31, 2019, we had 2,610,970 shares of common stock , 278,530 shares of Series A Preferred Stock, 841,113 shares of Series B Preferred Stock, and one share of Special Voting Preferred Stock

– 9,063 shares of common stock issuable upon exchange of Exchangeable Shares of 0959456 B.C. Ltd., a British Columbia corporation 

Ownership Structure

– September 12, 2010, entered into a Patent Assignment Agreement with
Valent Technologies LLC (((The Assignment Agreement)))

-Valent assigned to Del Mar (BC) its rights to patent applications 

Valent loaned Del Mar $250,000 for the purchase of the prototype drug product under the Assignment on February 3, 2011

-Also assigned the prototype drug product related to VAL-083

– Del Mar paid $250 000 to acquire the prototype drug product

– Valent is entitled to receive a future royalty on certain revenues derived from the development and commercialization of VAL-083

– The Assignment has a term of 10 years

-Also subject to earlier termination in the event Del Mar breaches its payment obligations and fails to remedy such breach within 60 days

– . The Valent loan(Valent loaned DMPI $250 000) is unsecured, bears interest at 3% per year, and is payable on demand

-On September 30, 2014, DMPI agreed with Valent to exchange the loan for 278,530 shares of our Series A preferred stock. The Series A preferred stock has an annual 3% dividend.

– One of our officers, Dr. Dennis Brown, is a principal of Valent and as result Valent is a related party to us.

Brain model of the Reverse Acquisition

Issuing shares as dividends

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