MINNEAPOLIS, MINNESOTA--(Marketwire - Feb. 22, 2013) - DiaMedica (TSX VENTURE:DMA) announces today that David Allan has resigned from the Company's board of directors, effective February 22, 2013.

"On behalf of our board of directors, I thank David for his valuable service and contributions and wish him well in future endeavors," stated Rick Pauls, Chairman & CEO of DiaMedica.

About DiaMedica

DiaMedica Inc. (TSX VENTURE:DMA) is a biotechnology company developing first-in-class treatments for the treatment of diabetes. DiaMedica's lead compound, DM-199, is a recombinant human protein for the treatment of both Type 1 and Type 2 diabetes and their complications. The Company is also developing the first therapeutic GPCR agonist monoclonal antibody, DM-204, for the treatment of Type 2 diabetes and cardiovascular disease. DiaMedica's shares trade on the Toronto Stock Exchange Venture (TSX VENTURE:DMA). For more information please visit [ www.diamedica.com ].

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 Corporation'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 Corporation 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.