DMA Diamedica Therapeutics

DiaMedica Inc. ("DiaMedica" or the "Company") (TSX VENTURE:DMA), announced today
that it has filed a final short form prospectus, dated July 7, 2011 relating to
its previously announced offering (the "Offering") of units of the Company (the
"Units"). The Company will offer 2,700,000 Units with each Unit consisting of
one common share in the capital stock of the Company (a "Common Share") and one
common share purchase warrant (a "Warrant"). Each Warrant will entitle the
holder thereof to purchase one additional Common Share for the price of $1.50
within two years from the initial closing date of the Offering, subject to an
acceleration of the expiry date of such Warrants in certain circumstances as
more particularly described in the Prospectus (as defined below).


Sora Group Wealth Advisors Inc. (the "Agent") will offer on a "commercially
reasonable efforts" agency basis, pursuant to an agency agreement dated as of
the date hereof (the "Agency Agreement"), 2,700,000 Units at a price of $1.25
per Unit for gross proceeds to the Company of $3,375,000. The Company has
granted to the Agent an option exercisable in whole or in part at any time prior
to the closing date of the Offering, to increase the number of Units offered by
up to 15% on the same terms and conditions.


The Company has received the conditional approval of the TSX Venture Exchange
(the "Exchange") for the listing of Common Shares forming part of the Offering.
Listing is subject to DiaMedica satisfying all requirements of the Exchange.


The closing of the Offering is anticipated to take place on or about July 21,
2011, or such other date as the Agent and the Company may determine in
accordance with the Agency Agreement and applicable laws.


About DiaMedica

DiaMedica is a biopharmaceutical company that develops novel therapeutic
products designed to improve the lives of people with Type 1 diabetes, Type 2
diabetes and other large, medically unmet diseases. DiaMedica's lead product
candidate, DM-199, has been shown to protect and proliferate beta cells and
significantly improve glucose metabolism in preclinical models.


The Company is listed on the TSX Venture Exchange under the trading symbol 'DMA'.

FORWARD-LOOKING STATEMENTS

The statements made in this press release that are not historical facts contain
forward-looking information that involves risk and uncertainties. All
statements, other than statements of historical facts, which address DiaMedica's
expectations, should be considered forward-looking statements. Such statements
are based on management's exercise of business judgment as well as assumptions
made by and information currently available to management. When used in this
document, the words "may", "will", "anticipate", "believe", "estimate",
"expect", "intend" and words of similar import, are intended to identify any
forward-looking statements. You should not place undue reliance on these
forward-looking statements. These statements reflect a current view of future
events and are subject to certain risks and uncertainties as contained in the
Company's filings with Canadian securities regulatory authorities. Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. The Company undertakes no
obligation, and does not intend, to update, revise or otherwise publicly release
any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence of any
unanticipated events. Although management believes that expectations are based
on reasonable assumptions, no assurance can be given that these expectations
will materialize.

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