Theralase Completes Oversubscribed $3.15 M Equity Financing
07 Novembre 2013 - 1:00PM
Access Wire
Toronto, Ontario
-//Accesswire// November 7, 2013 Theralase Technologies Inc.
(TSX-V: TLT) announced today that it has completed an
oversubscribed equity financing raising CAN $3,150,000 via private
placement offering. ("Private Placement")
The Private Placement provided
21,000,000 units ("Units") for purchase by accredited investors,
with each Unit comprised of one (1) common share and one (1)
non-transferable common share purchase warrant. In
connection with the financing, the Company paid a finder's fee of
10% of the gross proceeds raised and warrants to purchase 10% of
the shares sold. Each warrant will entitle the holder to
purchase one (1) additional common share at a price of $0.20 per
share until November 7, 2015. The securities
issued under the Private Placement, including any shares issued
upon exercise of the warrants will be subject to a four (4) month
holding period ending March 7, 2014.
The company will utilize the proceeds of the Private Placement
to provide working capital to develop the Company's strategic
initiatives in a number of areas, specifically:
-
-- Canadian and USA sales and
marketing expansion
-- Launch of patented next
generation Theralase TLC-2000 therapeutic laser in 2014
-- Completion of patented bladder
cancer technology preclinical investigation and commencement of
Phase 1/2a clinical study in 2014
As a condition of closing, the
Chairman of the Board of the Corporation is required to sell
8,000,000 common shares to third parties following which he will
cease to be a "Control Person", as defined under Canadian
securities laws.
About Theralase
Technologies Inc.:
Theralase Technologies Inc., founded in 1995, designs, develops,
manufactures and markets patented, superpulsed laser technology
utilized in both healing and destroying tissue. The healing
technology is safe and effective in the treatment of pain,
inflammation and the acceleration of tissue healing for a wide
range of nerve, muscle and joint conditions. The destructive
technology enlists patented Photo Dynamic Compounds (PDCs), which
when light activated, have the ability to specifically target and
effectively destroy cancer, bacteria and viruses.
For further information please visit www.theralase.com,
regulatory filings may be viewed by visiting www.sedar.com.
This press release contains
forward-looking statements which reflect the Company's current
expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could
differ materially from those projected herein. The Company
disclaims any obligation to update these forward-looking
statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchanges) accepts responsibility for
the adequacy or accuracy of this release.
For More Information
Roger Dumoulin-White
President & Chief Executive Officer
416-699-LASE (5273) ext. 225
rwhite@theralase.com
Theralase Technologies (TSXV:TLT)
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