Theralase Closes Non-Brokered Private Placement and Issues Stock Options

Theralase Technologies Inc. has successfully closed a Non-Brokered Private Placement (NBPP) offering. The company issued 2,720,000 units at a price of $CAN 0.20 per unit, raising gross proceeds of $CAN 544,000.

Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to acquire an additional common share at an exercise price of $CAN 0.30 per share for five years.

Theralase plans to use the proceeds to support its Phase II Non-Muscle Invasive Bladder Cancer clinical study, preclinical research on Rutherrin®, working capital, and general corporate purposes. The offering awaits final acceptance from the TSX Venture Exchange.

The company also granted 12,340,000 stock options to directors, officers, and employees. These options are exercisable at $CAN 0.25 per share, vest over three years, and expire five years from the grant date.