TORONTO, ONTARIO--(Marketwire - Oct. 19, 2009) - Theralase Technologies Inc. (TSX VENTURE:TLT) announced today that the TSX Venture Exchange has granted an extension with respect to the Company's previously announced non-brokered private placement equity financing of up to $1.2 million CDN for accredited investors, for up to thirty (30) days. The extension will provide investors additional time to complete and deliver their subscriptions. The private placement will close as soon as possible, but in no event shall it remain open beyond November 19, 2009. The financing is offered through a private placement of the Company's securities and commenced on September 30, 2009.

The Company is offering units at a price of $0.30 per unit. Each unit 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 $0.45 per share, for a period of two years from the date of closing.

The company intends to utilize the proceeds of the offering for US sales and marketing expansion and TLC-2000 biomedical laser commercialization.

About Theralase

Theralase Technologies Inc. is focused on a two-part strategy:

1. Production, marketing and distribution of the Theralase Super-Pulsed Laser for sale to health care practitioners that are focused on the treatment of chronic pain, sports injuries and wounds.

2. Commercialization of patented cancer treatment through progressive research, clinical trials and advancement of new technology in the direct destruction of cancers, viruses and bacteria.

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.