Theralase Technologies Inc (CVE:TLT) is to raise up to C$6mln through a public offering of shares.
The company is proposing to issue up to 20mln units at 30 cents a pop, with each unit comprising one common share plus a warrant to buy a common shares at a cost of 37.5 cents.
The offering is expected to close on or about November 10, 2016.
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.
Shares in Theralase currently trade at 37.5 cents.
Story by ProactiveInvestors