Theralase launches $2 million private placement, ends brokered financing

Theralase Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) commenced a non-brokered private placement to raise up to CAD $2 million and terminated its previously announced brokered financing with Research Capital Corporation.

The Toronto-based clinical stage pharmaceutical company will sell units priced at CAD $0.17 each. Each unit consists of one common share and one warrant that allows the holder to purchase an additional common share at CAD $0.21 for 60 months after closing.

The company plans to use proceeds to advance its Phase II Non-Muscle Invasive Bladder Cancer clinical study and for working capital needs. The offering is scheduled to close during the week of December 15, 2025, subject to TSX Venture Exchange approval.

Securities issued will be subject to a four-month and one-day hold period under Canadian and U.S. securities laws. The placement targets accredited investors in Canadian provinces, qualified U.S. investors under Rule 144A or Regulation D exemptions, and investors in offshore jurisdictions under applicable exemptions.

Theralase will pay eligible finders a 7% cash commission on gross proceeds and issue non-transferable finder warrants equal to 7% of total units issued, exercisable at CAD $0.17 for 60 months.

The company terminated its Listed Issuer Financing Exemption arrangement with Research Capital Corporation by mutual agreement. No details were provided regarding the reasons for the termination.

Theralase develops light, radiation, sound and drug-activated therapeutics for treating cancer, bacteria and viruses. The company's securities have not been registered under the U.S. Securities Act of 1933.

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