TORONTO, ONTARIO--(Marketwire - Dec. 3, 2010) - Theralase Technologies Inc. (TSX VENTURE:TLT) has commenced a non-brokered private placement equity financing to raise $500,000 CDN funds for the Company.
The financing will be offered through a private placement of the Company's securities commencing immediately and ending on or before the end of the year.
The Company will raise $500,000 CDN funds in exchange for 800,000 units, where each unit will cost $0.625 CDN and will be comprised of one common share and one half of a non-transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of $0.75 per share, for a period of two years from the date of closing.
The company intends to utilize the proceeds of the offering to provide additional working capital to further develop the Company's prospects in a number of areas; specifically:
- Support of small animal cancer trials at Princess Margaret Hospital, University Health Network
- Research and development of Photo Dynamic Compounds in the destruction of bacteria in the area of food safety
- TLC-1000 USA sales and marketing expansion
- TLC-2000 biomedical laser commercialization
- Development of an equine sales and marketing platform in conjunction with Temple Rock Holdings Inc.
- Ongoing sales and marketing initiatives focused on development of a direct to consumer model through medical practitioners
Visit the corporate or regulatory website at www.theralase.com or www.sedar.com for more information.
About Theralase Technologies Inc.
Theralase Technologies Inc. designs, develops and manufactures patented, super-pulsed laser technology utilized in bio-stimulation and bio-destruction applications. The technology is safe and effective in the treatment of chronic pain, neural muscular-skeletal conditions and wound care. When combined with patented light-sensitive Photo Dynamic Compounds, Theralase laser technology is able to specifically target and destroy cancers, bacteria and viruses.
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.