Theralase(R) Closes $CAN 1.17 Million Non-Brokered Private Placement

TORONTO, ON / ACCESSWIRE / November 29, 2023 / Theralase Technologies Inc. ("Theralase" or the "Company") (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light and/or radiation activated Photo Dynamic Compounds ("PDCs") for the safe and effective destruction of various cancers, bacteria and viruses, is pleased to announce that it has has successfully closed a non-brokered private placement offering ("Offering") of units ("Units"). On closing, the Corporation issued an aggregate of 5,318,183 Units at a price of $0.22 per Unit for aggregate gross proceeds of approximately $CAN 1,170,000.

Each Unit consisted of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire an additional Common Share at an exercise price of $0.28 per share for a period of 5 years following the date of issuance.

The Company plans to use the proceeds of the financing to further the Phase II Non-Muscle Invasive Bladder Cancer ("NMIBC") clinical study currently underway and for working capital needs.

In connection with the Offering, the Company paid a finder's fee of $5,810 in cash and issued 18,864 non-transferrable finder Units of the Company. Each finder Units entitles the holder thereof to purchase one Unit at an exercise price equal to the Issue Price of $CAN 0.22 per Unit and on the same terms (including exercise price and expiry date of the underlying Warrants) of the Units issued with the Offering. The finder Units issued will be subject to a four month and one day hold period.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirement is available. 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, including the United States.