05:26 PM EDT, 09/24/2024 (MT Newswires) -- Theralase Technologies ( TLTFF ) said Tuesday it closed a non-brokered private placement of share units that raised C$544,000.

The company said it placed 2.72-million units in the financing, with each priced at $0.20 and made up of a share and a five-year warrant to buy a second share for $0.30.

Proceeds will be used to advance the phase 2 study for non-muscle invasive bladder cancer, conduct preclinical research and development of Rutherrin, and for working capital and general corporate purposes, the company added.

The company's shares closed up $0.005 to $0.17 on the TSX Venture Exchange.