Theralase Technologies closes $1.33-million financing

Executive Summary

• Theralase Technologies Inc. closed a non-brokered private placement of units, raising approximately $1.33 million in gross proceeds.
• The company issued 7,850,882 units at a price of $0.17 per unit, with each unit comprising one common share and one common share purchase warrant.
• Proceeds are designated for the ongoing Phase II clinical study for non-muscle invasive bladder cancer (NMIBC), working capital, and general corporate purposes.

Key Details

• Gross Proceeds: Approximately $1,334,650.
• Units Issued: 7,850,882 units.
• Price Per Unit: $0.17.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms (Investors): Each warrant entitles the holder to acquire one additional common share at an exercise price of $0.21 per share for a period of five years following the closing date.
• Use of Proceeds: Furthering the Phase II non-muscle invasive bladder cancer (NMIBC) clinical study, working capital, and general corporate purposes.
• Finder’s Fees: Total fee of $31,658 paid in connection with the offering.
  • Cash Portion: $15,470 paid in cash.
  • Equity Portion: $16,188 paid via the issuance of 95,221 common shares.
  • Finder Warrants: 186,221 non-transferable finder warrants issued.
• Finder Warrant Terms: Each finder warrant is exercisable into one common share at an exercise price of $0.21 per share for a period of five years following the closing date.
• Hold Period: All securities issued are subject to a four-month-and-one-day hold period under Canadian securities laws, expiring on April 24, 2026.
• Regulatory Status: The offering is subject to receipt of final acceptance from the TSX Venture Exchange.