- Theralase Technologies (TSXV: TLT) (OTCQB: TLTFF) successfully raises CAN $419,124 in a non-brokered private placement.
- Proceeds to support Phase II Non-Muscle Invasive Bladder Cancer study and other research initiatives.
- Issued units include one common share and a five-year warrant exercisable at CAN $0.32 per share.
Theralase Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company, has successfully concluded a non-brokered private placement, securing a total of CAN $419,124. The funding was achieved through the issuance of 1,995,829 units priced at CAN $0.21 each. Each unit comprises one common share and one warrant, allowing the purchase of an additional common share at CAN $0.32 within five years.
The capital raised will be directed towards several important initiatives. These include the Phase II clinical study for Non-Muscle Invasive Bladder Cancer (NMIBC), research on Herpes Simplex Virus treatment, and the development of Rutherrin® for various solid tumours such as brain, lung, pancreatic, muscle-invasive bladder, and colorectal cancers. Additionally, the funds will support working capital and general corporate purposes.
In connection with this offering, Theralase paid CAN $630 in broker's fees and granted 1,500 broker warrants. According to Canadian securities laws, all the securities issued are subject to a four-month hold period, expiring on August 15th, 2025. This strategic financing move is expected to bolster Theralase's ongoing research and development efforts in the healthcare and medical devices sector.
