Theralase raises $1.1 million in private placement financing

Theralase Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) completed a non-brokered private placement offering that raised CAD $1.1 million, the clinical stage pharmaceutical company announced.

The company issued 4,230,770 units at CAD $0.26 per unit. Each unit includes one common share and one warrant that allows the holder to purchase an additional share at CAD $0.36 for five years from the closing date.

Company insiders purchased 100,000 units for CAD $26,000 as part of the offering. The transaction qualifies as a related party transaction under Canadian securities regulations, though the company is exempt from formal valuation requirements and minority shareholder approval.

Theralase stated it plans to use the proceeds to advance its Phase II clinical study for non-muscle invasive bladder cancer, along with working capital and general corporate purposes.

All securities issued are subject to a four-month and one-day hold period under Canadian securities laws, expiring July 11, 2026. The offering requires final acceptance from the TSX Venture Exchange.

The securities have not been registered under U.S. securities laws and cannot be offered or sold in the United States without registration or an applicable exemption.

Theralase focuses on developing energy-activated small molecules for treating cancer, bacteria and viruses. The information is based on a company press release.

You May Also Be Interested In

• Aggreko files for proposed IPO
• Real and RE/MAX Holdings complete merger, form Real REMAX Group
• Aggreko files for NYSE IPO under ticker AGKO