Profound Medical Corp. Announces Closing of Private Placement

Executive Summary

• Profound Medical Corp. completed its previously announced private placement of common shares to Canadian investors.
• The company issued 921,428 common shares at US $7.00 per share, raising approximately US $6.45 million in gross proceeds.
• Net proceeds are earmarked for sales and marketing expansion, working capital, R&D, strategic transactions, and general corporate purposes; the shares are subject to a four‑month hold period and the company will file a U.S. registration statement for resale within that timeframe.

Key Details

• Shares Issued: 921,428 common shares
• Price per Share: US $7.00
• Gross Proceeds: Approximately US $6.45 million
• Hold Period: Four months plus one day from the closing date (per Canadian securities laws)
• Use of Net Proceeds: Expansion of sales and marketing, working capital, research & development, strategic transactions, general corporate purposes
• U.S. Registration Commitment: Profound will file a registration statement with the SEC to register resale of the shares within four months of closing
• Regulatory Note: Shares were not registered under the U.S. Securities Act; they may not be offered or sold in the United States or to U.S. persons absent exemption or registration

Notable Quotes

(No executive quotes included in the release.)