Ms. Kristina Hachey reports

THERALASE(R) CLOSES $1.1 M NON-BROKERED PRIVATE PLACEMENT

Theralase Technologies Inc. has successfully closed a non-brokered private placement offering of units.

On closing, the corporation issued an aggregate of 4,230,770 units at a price of 26 cents per unit for aggregate gross proceeds of $1.1-million.

Each unit consisted of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at an exercise price of 36 cents per share for a period of five years following the date of closing.

The company plans to use the proceeds of the financing to further the phase II non-muscle invasive bladder cancer (NMIBC) clinical study currently under way, working capital and general corporate purposes.

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 11, 2026.

The offering is subject to receipt of final acceptance from the TSX Venture Exchange.

Related party transactions

An aggregate of 100,000 units, representing gross proceeds of $26,000, were issued to certain insiders of the corporation. Pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, 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 per cent 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 energy-activated small molecules for the safe and effective destruction of cancer, bacteria and viruses.

We seek Safe Harbor.