Theralase Technologies (TLT-V) March 11, '15 announced today confirmation of its strategic initiatives for 2015.
On March 3, 2015, Theralase closed a prospectus financing, where the Company raised $CAN 8 million from US institutional and Canadian institutional and retail investors.
Completed at a 20% discount to market, these funds are considered strategic to the Company as it has now solidified relationships with influential Canadian and US institutional investors that will prove to be invaluable down the road, as the Company executes on its strategic initiatives.
Theralase is now fully funded to commence and complete its two core strategic initiatives in 2015.
The first core strategic initiative for the Company is the launch of the next generation TLC-2000 "Cell Sensing" therapeutic laser system in Canada in April 2015 and in the US and Europe in 3Q2015. This technology will revolutionize the therapeutic laser industry by providing healthcare practitioners with a technology that can sense where a patient's tissue is damaged and then deliver an exact dose of healing laser light energy to the region to heal the condition in the safest and most effective way possible. The technology is expected to generate significant revenue for Theralase over the next few years as the US pain market, estimated at $100 M in size, is expected to grow rapidly with the aging population.
The second core strategic initiative is the commencement of a Phase I / II a clinical study to evaluate the safety and tolerability of Photo Dynamic Therapy ("PDT") in the destruction of Non-Muscle Invasive Bladder Cancer ("NMIBC") as a primary outcome measure. As a secondary outcome measure, Theralase will investigate the efficacy of its technology in the destruction of NMIBC. Various milestones leading up to this milestone include: commencement and completion of a toxicity analysis, completion of the clinical protocol, Health Canada Clinical Trial Application ("CTA") meetings, Food and Drug Administration ("FDA") Investigational New Drug ("IND") application meetings, completion of non-Good Manufacturing Practices ("GMP") and GMP manufacture of the lead Photo Dynamic Compound ("PDC"). Pending commercialization of this technology, Theralase is expected to significantly increase its revenues. The US bladder cancer market is estimated to cost the American medical system $4 B annually with all cancers costing over $77 B annually.
Roger Dumoulin-White, President and CEO of Theralase stated that, "Theralase is now fully funded to execute on its strategic initiatives and we look forward to achieving significant commercial success in the medical markets of healing pain and destroying cancer."
About Theralase Technologies Inc.
Founded in 1994, Theralase Technologies Inc. ("Theralase(R)") (TSXV: TLT) (TLTFF: OTC Pink(R)) designs, manufactures and markets patented super-pulsed laser technology used for the elimination of pain, reduction of inflammation and dramatic acceleration of tissue healing. Theralase has sold over 1,200 systems to licensed healthcare practitioners, including: medical doctors, chiropractors, physical therapists and athletic therapists. Theralase has been so successful in healing nerve, muscle and joint conditions in clinical practice that Theralase's scientists and clinicians have now turned their attention to investigating the application of its lasers in the destruction of cancer, using specially designed molecules called Photo Dynamic Compounds ("PDCs"), which are able to localize to the cancer cells and when light activated, destroy them.
Additional information is available at www.theralase.com and www.sedar.com .
Theralase Technologies Inc. was recognized as a TSX Venture 50(R) company in 2015. TSX Venture 50 is a trademark of TSX Inc. and is used under license.
For More Information:
Roger Dumoulin-White
President & CEO, Theralase Technologies Inc.
1.866.THE.LASE (843-5273) ext. 225
416.699.LASE (5273) ext. 225
rwhite@theralase.com
www.theralase.com
____________________________________________________________________________________
Theralase Technologies TLT-V) March 11, '15 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 18,181,817 Units at a price of $0.44 per Unit for aggregate gross proceeds of approximately $8,000,000. 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 $0.54 for a period of 60 months following the date of issuance.
Euro Pacific Canada Inc. (the "Agent") acted as agent in connection with the Offering pursuant to the terms and conditions of an agency agreement between the Corporation and the Agent dated February 25, 2015, as amended on March 3, 2015. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), acted as exclusive U.S. placement agent in connection with the Offering.
The Units were qualified for sale by way of a prospectus supplement dated February 25, 2015 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 ("PDT") Division, commercialization activities by Theralase's Therapeutic Laser Technology ("TLT") Division and for working capital and general corporate purposes.
For its services, the Agent received a cash commission of $626,646.31 and 890,123 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 $0.54 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
An aggregate of 179,365 Units representing gross proceeds of $78,920.60 were issued to certain insiders of the Corporation. Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), such insider subscriptions are a "related party transaction." The Corporation is exempt from the formal valuation requirement of MI 61-101 in connection with the insider subscriptions in reliance on section 5.5(b) of MI 61-101, as no securities of the Corporation are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market or any other stock exchange outside of Canada and the United States. Additionally, the Corporation is exempt from obtaining minority shareholder approval in connection with the insider subscriptions in reliance on section 5.7(1)(a) of MI 61-101 as the aggregate value of the insider subscriptions does not exceed 25% of the market capitalization of the Corporation.
Due to the limited time between the launch and the close of the Offering, there will be less than 21 days between the date the Corporation files its material change report in respect of the Offering and the completion date of the Offering.
About Theralase
Founded in 1994, Theralase (TSXV: TLT) (TLTFF: OTC Pink®) designs, manufactures and markets patented super-pulsed laser technology used for the elimination of pain, reduction of inflammation and dramatic acceleration of tissue healing. Theralase has sold over 1,200 systems to licensed healthcare practitioners, including medical doctors, chiropractors, physical therapists and athletic therapists. Theralase has been so successful in healing nerve, muscle and joint conditions in clinical practice that Theralase's scientists and clinicians have now turned their attention to investigating the application of its lasers in the destruction of cancer, using specially designed molecules called Photo Dynamic Compounds, which are able to localize to the cancer cells and when light activated, destroy them.
Additional information is available at www.theralase.com and www.sedar.com.
Theralase was recognized as a TSX Venture 50® company in 2015. TSX Venture 50 is a trademark of TSX Inc. and is used under license.
Theralase Technologies Inc.
Roger Dumoulin-White, President & CEO
1.866.THE.LASE (843-5273) ext. 225
416.699.LASE (5273) ext. 225
rwhite@theralase.com
www.theralase.com |
