Theralase Technologies closes $672,727 financing

Executive Summary

• Theralase Technologies Inc. has closed a non-brokered private placement of 3,363,134 units, raising approximately $672,627 in gross proceeds.
• The offering includes related party transactions where insiders subscribed to 130,000 units for $26,000, exempt from formal valuation and minority shareholder approval requirements under specific securities regulations.
• Proceeds are designated for the advancement of the Phase II NMIBC clinical study, development of Rutherrin, working capital, and general corporate purposes.

Key Details

• Total Units Issued: 3,363,134 units.
• Price Per Unit: $0.20 CAD.
• Gross Proceeds: Approximately $672,627.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant allows the holder to acquire one additional common share at an exercise price of $0.30 per share.
• Warrant Expiration: Five years following the date of issuance.
• Hold Period: Four months and one day from the closing date, expiring on November 29, 2025.
• Regulatory Status: Subject to final acceptance from the TSX Venture Exchange.
• Insider Subscription: 130,000 units issued to insiders for gross proceeds of $26,000.
• Regulatory Exemptions: The insider subscriptions are exempt from formal valuation requirements (MI 61-101 Section 5.5(b)) and minority shareholder approval (MI 61-101 Section 5.7(1)(a)) as the aggregate value does not exceed 25% of market capitalization and no securities are listed outside Canada or the US.
• Use of Proceeds: Furthering the Phase II non-muscle invasive bladder cancer (NMIBC) clinical study, development of Rutherrin, working capital, and general corporate purposes.