on Theralase Technologies Inc. (isin : CA88337V1004)
Theralase Closes $CAN 775,000 in First Tranche of Private Placement
Theralase® Technologies Inc. (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company from Toronto, has announced the successful completion of its first tranche of a non-brokered private placement offering. The company raised $CAN 775,000 by issuing 3,522,729 units at $CAN 0.22 per unit.
Each unit is composed of one common share and one common share purchase warrant. These warrants allow holders to buy an additional share at $CAN 0.30 per share within five years. The funds will be used to support the ongoing Phase II clinical study on Non-Muscle Invasive Bladder Cancer, preclinical research on Rutherrin®, working capital, and general corporate purposes.
The offering is subject to final acceptance from the TSX Venture Exchange, and all securities will be under a four-month hold period in compliance with Canadian securities laws.
R. H.
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