Theralase Technologies Concludes Private Placement of $CAN 666,400

Theralase Technologies Inc., a clinical stage pharmaceutical firm, has wrapped up a non-brokered private placement offering, securing approximately $CAN 666,400. The Toronto-based company issued 2,221,334 units at $CAN 0.30 per unit. Each unit comprises one common share and one warrant, allowing holders to purchase an additional share at $CAN 0.45 for the next five years.

The funds will support Theralase's Phase II clinical study on Non-Muscle Invasive Bladder Cancer, advancement of Rutherrin® preclinical research, and cover operational costs. However, the sale of these securities in the U.S. remains restricted unless specific exemptions are met.

All securities are under a four-month hold period as per Canadian law, expiring March 16, 2025. This placement awaits final approval from the TSX Venture Exchange.