SQI Diagnostics Inc. ("SQI" or the "Company") (TSX-V: SQD), a
life sciences company that develops and commercializes proprietary
technologies and products for advanced microarray diagnostics, announced
today it has raised gross proceeds of CDN $754,000 from the closing of
the third and final tranche of a non-brokered private placement (the
"Private Placement") of 430,713 units ("Units") priced at $1.75 per
Unit. The aggregate gross proceeds raised by the Company in connection
with the first, second and third tranches of the Private Placement is
$5.659 million through the issuance of a total of 3,233,571 units.
Each Unit consists of one common share and one common share purchase
warrant. Each common share purchase warrant will entitle the holder to
purchase one common share at a price of $2.50 for a period of two years
from the date of issuance. After giving effect to the issuance of the
shares and assuming the exercise of all warrants issued in connection
with the first, second and third tranches of the Private Placement, the
Company would have 42,747,735 shares outstanding.