Theralase Technologies Inc (TLTFF)

[was CUIN2]

TORONTO, ONTARIO--(Marketwired - Nov. 10, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Theralase Technologies Inc. ("Theralase" or the "Corporation") (TSX VENTURE:TLT)(OTC PINK:TLTFF) is pleased to announce that it has closed its previously announced public offering (the "Offering") of units (each, a "Unit"). On closing, the Corporation issued an aggregate of 14,236,666 Units at a price of $0.30 per Unit for aggregate gross proceeds of approximately $4,271,000. Each Unit consists of one common share of the Corporation (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to acquire an additional Common Share at a price of $0.375 for a period of 60 months following the date of issuance.

Echelon Wealth Partners Inc. (the "Agent") acted as sole agent in connection with the Offering pursuant to the terms and conditions of an agency agreement between the Corporation and the Agent dated November 7, 2016 (the "Agency Agreement"). Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, was appointed by the Agent as the exclusive selling group member to facilitate sales of the Units in the United States.

The Units were qualified for sale by way of a prospectus supplement dated November 7, 2016 to the Corporation's short form base shelf prospectus dated January 9, 2015, which was filed in the Provinces of British Columbia, Alberta and Ontario. A copy of the prospectus supplement is available under the Corporation's profile on SEDAR at www.sedar.com.

The net proceeds of the Offering will be used to fund research and development activities by Theralase's Photo Dynamic Therapy division, commercialization activities by Theralase's Therapeutic Laser Technology division and for working capital and general corporate purposes.

In connection with the services performed under the Agency Agreement, the Company paid a cash commission of $237,119.99 and issued 526,933 broker warrants (each, a "Broker Warrant"). Each Broker Warrant is exercisable into one Unit for a period of 60 months from the closing of the Offering at a price of $0.375 per Unit.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Related Party Transactions


Read more at http://www.stockhouse.com/news/press-releases/2016/11/10/theralase-announces-completion-of-public-offering-of-units#R0DRSuMqHfa7WdKf.99