TORONTO,
ONTARIO-- Oct. 4, 2011 - Theralase Technologies Inc. (TSX-V:TLT) announced
today that it has commenced raising funds from accredited investors in a
non-brokered private placement (the "Private Placement") of up to
2,000,000 units (the "Units") at a price of CND $0.25 per Unit for
gross proceeds of up to CDN $500,000.00. Each Unit consists of one common share
in the capital of the Company and one-half of one non- transferable common
share purchase warrant (a "Warrant"). Each whole Warrant entitles the
holder to purchase one additional common share (a "Warrant Share") in
the capital of the Company for 1 year after closing at a price of CDN $0.38 per
Warrant Share. The securities issued under the Private Placement including any
shares issued upon exercise of the Warrants are subject to a four month holding
period, commencing upon closing.
The company
intends to utilize the proceeds of the Private Placement 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 the Ontario Cancer Institute, Princess
Margaret Hospital, University Health Network
·
Research
and development of Photo Dynamic Compounds used in conjunction with the
patented Theralase laser technology in the destruction of cancers, bacteria and
viruses
·
TLC-1000
therapeutic medical laser USA sales and marketing expansion
·
TLC-2000
therapeutic medical biofeedback laser commercialization
About Theralase Technologies Inc.:
Theralase
Technologies Inc., founded in 1995, designs, develops, manufactures and markets
patented, superpulsed laser technology utilized in biostimulation and
biodestruction applications. Theralase technology is safe and effective in
treating pain, inflammation and for tissue regeneration of neural muscular
skeletal conditions and wound healing in both humans and animals. Theralase
complies with all FDA, Health Canada, CE and international regulatory approvals
to ensure effective, safe and high quality products. Theralase also develops
patented Photo Dynamic Compound (PDC) technology focused at targeting and
destroying cancers, bacteria and viruses when light activated by Theralase’s
proprietary and patented laser technologies.
For further
information please visit www.theralase.com, regulatory filings may be viewed by
visiting www.sedar.com.
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.
For More
Information, please contact:
Roger
Dumoulin-White,
President
and CEO
416-447-8455
ext. 225
Kristina
Hachey
Chief
Financial Officer
416-447-8455
ext. 224
Greg Bewsh
Director of
Investor Relations
416-447-8455
ext. 262
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