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Theralase Technologies Closes C$3.6 Million Private Placement

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Theralase Technologies (TLT.V) after trade Monday said it closed a C$3.6-million private placement, issuing 14.8-million units at C$0.24 each.

Each unit includes a share and one warrant and a warrant expiring in May, 2031 with each warrant to buy another share for C$0.32.

The company plans to use the funds to complete safety studies for its cancer treatment Rutherrin and its cold sore treatment Ruvidar, as well as for working capital and general corporate purposes, it said.

The warrants are set to begin trading on the TSX Venture Exchange around Aug. 27, subject to final approval, according to the statement.

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