DiaMedica Inc. Grants Options to Board Members

WINNIPEG, MANITOBA--(Marketwire - October 16, 2008) - DiaMedica Inc. (TSX VENTURE: DMA), a drug discovery and development company focused on a novel approach to treating Type 2 diabetes has announced that it has granted 75,000 incentive options to certain officers or directors of the Company priced at $0.70. The options are set to expire five years from the date of grant and are subject to the approval of the TSX Venture Exchange.