Theralase Technologies Inc. Completes $750,200 Funding Round

TORONTO, ON - Theralase Technologies Inc., a clinical stage pharmaceutical company, announced the closure of a Non-Brokered Private Placement (NBPP), raising approximately $CAN 750,200. The company issued 4,167,778 units at $CAN 0.18 each, comprising common shares and warrants, endeavoring to further medical research and other corporate needs.

Each warrant within the units allows the holder to purchase an additional share at $CAN 0.25 for the next five years. The proceeds from this placement will support Theralase's ongoing Phase II clinical study for Non-Muscle Invasive Bladder Cancer (NMIBC), along with preclinical research on Rutherrin®. Funds are also earmarked for working capital and general corporate purposes.

The securities sold are bound by a four-month hold period in compliance with Canadian laws, expiring on August 25, 2024. The offering's completion is subject to final approval by the TSX Venture Exchange. Furthermore, these securities have not been registered under the U.S. Securities Act of 1933 and are not offered in the United States or to U.S. persons.