TORONTO, Aug. 16 /CNW/ - Theralase(TM) Technologies Inc. (TSX-V: TLT & OTC BB: TLTFF) announces that it has closed its previously announced private placement which raised gross proceeds of $850,000 by issuing 1,700,000 units to investors at a price of $0.50 per unit. Each unit consists of 1 common share and 1/2 of a non-transferable common share purchase warrant. Each whole warrant entitles the holder thereof to purchase 1 additional common share at a price $0.75, until August 15th, 2008. All common shares sold under this private placement, including shares issuable upon the exercise of the warrants, are restricted from trading until December 16th, 2007. Two registered dealers were paid cash commissions totalling $25,550 in connection with the private placement.
