VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 14, 2011) – Mr. Doug Unwin, President and CEO of Pacific Therapeutics Ltd. (the “Issuer”) (CNSX:PT) is pleased to announce the completion of the previously announced non-brokered private placement. The Issuer sold to 357,142 common shares at a price of $0.14 per share for aggregate proceeds of CAD $50,000 (the “Private Placement”).
The Issuer intends to use the proceeds of the Private Placement for general working capital.
The Private Placement is the first draw down of funds under the irrevocable subscription agreements that the company entered into with subscribers on January 31, 2011 and May 16, 2011. Each draw down is set at $50,000 under the agreements.
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