Theralase Technologies Inc. V.TLT

So the LIFE financing gave them the minimum $3,5M CAD

[Rumpl3StiltSkin]

right? And this new financing is to get the rest of the ~$5M CAD?

[james700]

The Company also announces that it has mutually terminated the recently announced brokered Listed Issuer Financing Exemption ("LIFE") financing with Research Capital Corporation. This was in the News Release... My personal guess... So, it would appear that they did not raise $3.5M and are planning on a smaller $1.5M raise, through a different method.

[Rumpl3StiltSkin]

thanks James,  That makes sense. I guess they have some $$$ to make it through to BTD. Then, hopefully, they'll get a nice JV...

[lscfa]

Theralase dropped the issue size from $3.5 - $5 mil to $1.5 mil......As $1.5 mil does not give the co. available funds for 12 months it can't do a LIFE (with no restricted period). Instead it must do a private placement with a 4 month hold period.

[BudFoxx2020]

LIFE financing was a dud and scrapped when RCC would not go out of its way to push it.  So only thing left to do is to do was a regular PP.   A much smaller one at that.  1.5 million.  NO it has not been filled, it is just the same promoters putting their spin on it as usual.  The previous PP they struggled to fill 1 million and I believe management took 20% of it