By Laura Lutz
Des Moines, June 4 - Theralase Technologies Inc. arranged a private placement of units for up to C$5 million.
The company plans to sell 10 million units of one share and one half-share non-transferable warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.75 for one year.
The non-brokered offering is expected to close on June 29.
Proceeds will be used for U.S. market expansion, commercialization of the company's TLC-2000 biomedical laser commercialization, clinical study of the company's TLC-2000 laser and research and development of its TLC-3000 photodynamic compound.
Theralase is a Toronto-based manufacturer of high-powered, super-pulsed therapeutic laser equipment.
| Issuer: | Theralase Technologies Inc.
|
| Issue: | Units of one share and one half-share non-transferable warrant
|
| Amount: | C$5 million
|
| Units: | 10 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | June 4
|
| Settlement date: | June 29
|
| Stock symbol: | TSX Venture: TLT
|
| Stock price: | C$0.55 at close June 1
|
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