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.