Theralase(R) Closes Non-Brokered Private Placement

Rhea-AI Summary

Theralase Technologies (TSXV: TLT) (OTCQB: TLTFF) has successfully closed a non-brokered private placement offering, raising CAD $310,200 through the issuance of 1,034,002 units at CAD $0.30 per unit. Each unit includes one common share and one warrant, with warrants exercisable at CAD $0.45 per share for 5 years.

The proceeds will support the company's ongoing Phase II Non-Muscle Invasive Bladder Cancer (NMIBC) clinical study, preclinical research and development of Rutherrin®, working capital, and general corporate purposes. The offering included participation from company insiders, who subscribed for 251,668 units totaling CAD $75,500.

A broker's fee of CAD $1,728 and 2,880 non-transferrable broker warrants were paid in connection with the offering. All securities issued are subject to a four-month hold period expiring July 12th, 2025.

Positive

• Secured CAD $310,200 in additional funding
• Insider participation demonstrates management confidence with CAD $75,500 investment
• 5-year warrant term provides potential for additional future capital at CAD $0.45/share

Negative

• Dilutive effect on existing shareholders
• Small raise amount may indicate investor interest
• Trading restrictions with 4-month hold period on new shares

Toronto, Ontario--(Newsfile Corp. - March 11, 2025) - Theralase® Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) ("Theralase®" or the "Company"), a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and/or drug-activated small molecules and their formulations, intended for the safe and effective destruction of various cancers, bacteria and viruses, is pleased to announce that it has successfully closed a non-brokered private placement offering ("Offering") of units ("Units").

On closing, the Corporation issued an aggregate of 1,034,002 Units at a price of $CAN 0.30 per Unit for aggregate gross proceeds of approximately $CAN 310,200.

Each Unit consists 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 $CAN 0.45 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, preclinical research and development of Rutherrin®, working capital and general corporate purposes.

In connection with the Offering, the Company paid a broker's fee of $CAN 1,728 in cash and issued 2,880 non-transferrable broker warrants of the Company.

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.

All securities issued under the Offering will be subject to a four month and one day hold period from the closing date under applicable Canadian securities laws, which expires on July 12^th, 2025. The Offering is subject to receipt of final acceptance from the TSX Venture Exchange.

Related Party Transactions

An aggregate of 251,668 Units, representing gross proceeds of $75,500 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") and TSX Venture Exchange Policy 5.9, 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 or 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® Technologies Inc.:

Theralase® is a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and/or drug-activated small molecule compounds, their associated drug formulations and the light systems that activate them, with a primary objective of efficacy and a secondary objective of safety in the destruction of various cancers, bacteria and viruses.

Additional information is available at www.theralase.com and www.sedarplus.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws. Such statements include; but are not limited to statements regarding the Company's proposed development plans with respect to small molecules and their drug formulations. Forward looking statements may be identified by the use of the words "may, "should", "will", "anticipates", "believes", "plans", "expects", "estimate", "potential for" and similar expressions; including, statements related to the current expectations of Company's management for future research, development and commercialization of the Company's small molecules and their drug formulations, preclinical research, clinical studies and regulatory approvals.

These statements involve significant risks, uncertainties and assumptions; including, the ability of the Company to adequately fund, and secure the requisite regulatory approvals to successfully complete clinical studies in a timely fashion and implement its development plans. Other risks include: the ability of the Company to successfully commercialize its drug formulations, the risk that access to sufficient capital to fund the Company's operations may not be available or may not be available on terms that are commercially favorable to the Company, the risk that the Company's drug formulations may not be effective against the diseases tested in its clinical studies, the risk that the Company's fails to comply with the term of license agreements with third parties and as a result loses the right to use key intellectual property in its business, the Company's ability to protect its intellectual property, the timing and success of submission, acceptance and approval of regulatory filings. Many of these factors that will determine actual results are beyond the Company's ability to control or predict.

Readers should not unduly rely on these forward- looking statements which are not a guarantee of future performance. There can be no assurance that forward looking statements will prove to be accurate as such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or future events to differ materially from the forward-looking statements.

Although the forward-looking statements contained in the press release are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.

All forward-looking statements are made as of the date hereof and are subject to change. Except as required by law, the Company assumes no obligation to update such statements.

For investor information on the Company, please feel to reach out Investor Inquiries - Theralase Technologies.

For More Information:
1.866.THE.LASE (843-5273)
416.699.LASE (5273)
www.theralase.com

Kristina Hachey, CPA
Chief Financial Officer X 224
khachey@theralase.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244101

FAQ

How much did Theralase Technologies (TLTFF) raise in their latest private placement?

Theralase raised CAD $310,200 through a non-brokered private placement offering of 1,034,002 units at CAD $0.30 per unit.

What are the terms of TLTFF's warrant offering in March 2025?

Each warrant allows holders to purchase one additional common share at CAD $0.45 per share for a 5-year period following issuance.

How will Theralase (TLTFF) use the proceeds from the private placement?

The proceeds will fund the Phase II NMIBC clinical study, Rutherrin® preclinical R&D, working capital, and general corporate purposes.

What is the insider participation in TLTFF's March 2025 private placement?

Company insiders subscribed for 251,668 units, representing CAD $75,500 of the total placement.