Theralase Technologies Raises $4.8 Million Via Brokered Private Placement Offering
Theralase Technologies (TLT.V)on Wednesday said it closed a brokered private placement of share units, raising $4.8 million including the full exercise of the over-allotment option.The company placed 19.2-million units priced at $0.24 apiece. It also closed a concurrent non-brokered private placement of 673,624 units at the offering price for $161,669.Each unit is made up of a share and and a five-year warrant to buy a share for $0.32.Proceeds will be used to further the Phase II Bacillus Calmette-Guerin (BCG)-Unresponsive Non-Muscle Invasive Bladder Cancer (NMIBC) Carcinoma In-Situ (CIS) clinical study (Study II) currently underway, commencement of Good Laboratory Practice (GLP) toxicology analysis for Rutherrin, working capital and general corporate needs.Shares of the company were last seen up $0.005 to $0.225 on the TSX Venture Exchange.Price: $0.23, Change: $+0.01, Percent Change: +2.27%
