Theralase Technologies Inc.

Theralase Technologies Inc.

November 30, 2009 12:02 ET

Theralase Closes Oversubscribed Equity Financing

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2009) - Theralase Technologies Inc. (TSX VENTURE:TLT) (the "Company") is pleased to announce that it has closed a previously announced non-brokered private placement (the "Private Placement") of 4,235,833 units (the "Units") at a price of Cdn.$0.30 per Unit for gross proceeds of Cdn.$1,270,750. 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 purchaser to purchase one additional common share (a "Warrant Share") in the capital of the Company until November 26, 2011 at a price of Cdn.$0.45 per Warrant Share. The securities issued under the Private Placement are subject to a four month hold period, expiring March 27, 2010.

The company intends to utilize the proceeds of the offering for US sales and marketing expansion and TLC-2000 biomedical laser commercialization.

Roger Dumoulin-White, President & CEO stated, "We are pleased to see that the private placement was well received by the market and in fact was oversubscribed. These funds will be used to accelerate Theralase's expansion into the US market and solidify our position there. The funds will also be used to aid in the commercialization of our patented TLC-2000 biofeedback laser technology, set to launch in 2010."

About Theralase
Theralase Technologies Inc. designs, develops and manufactures patented, super-pulsed laser technology used in bio-stimulation and bio-destruction applications. The technology is popularized for its efficacious treatment of chronic pain, inflammation, wound care and the patented ability to attack specifically targeted cancer, bacteria, and viruses.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.

Contact Information

  • Theralase Technologies Inc.
    Roger Dumoulin-White
    President & CEO
    (416) 447-8455 x 225
    Theralase Technologies Inc.
    Scott Ritchie
    Marketing Manager
    (416) 447-8455 x 261