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Published on 1/11/2010 in the Prospect News PIPE Daily.

New Issue: OccuLogix wraps $1.74 million tranche of $3 million placement of shares

By Devika Patel

Knoxville, Tenn., Jan. 11 - OccuLogix, Inc. settled a $1.74 million tranche of a $3 million private placement of stock on Jan. 8, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company sold 1,886,291 common shares at $0.92456 apiece. It may sell an additional 1,358,475 shares.

Proceeds will be used for working capital and general corporate purposes.

Boston-based OccuLogix develops ophthalmic devices to treat age-related eye diseases.

Issuer:OccuLogix, Inc.
Issue:Common stock
Amount:$3 million
Shares:3,244,766
Price:$0.92456
Warrants:No
Settlement date:Jan. 8 (for $1,743,989)
Stock symbol:Nasdaq: TEAR
Stock price:$1.14 at close Jan. 8
Market capitalization:$11.5 million

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