Profound Medical closes C$10 million "bought deal" financing

On September 20, 2017, Profound Medical Corp. ("Profound") announced the closing of its previously announced bought deal financing pursuant to a short form prospectus, for total gross proceeds of C$10 million. In total, 10,000,000 units were sold pursuant to the offering at a price of C$1.00 per unit. Each unit consists of one common share of Profound and one-half of one warrant (each whole warrant being a "Warrant"), with each Warrant entitling the holder to acquire one common share at a price of C$1.40 per share until September 20, 2020, subject to accelerated expiry provisions in the warrant indenture governing the warrants.

The offering was completed through a syndicate of underwriters led by Echelon Wealth Partners Inc. and including CIBC World Markets Inc.

The net proceeds from the offering are expected to be used to advance Profound's clinical trial surrounding its TULSA-PRO® device, to advance global sales and marketing plans for its TULSA-PRO® and Sonalleve® devices and for working capital and general corporate purposes.

Profound Medical is committed to creating the powerful combination of real-time MR-guidance as the imaging platform and ultrasound as the energy source for delivering non-invasive ablative tools to clinicians.

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