SQI Diagnostics Announces Closing of Second Tranche of Previously Announced Proposed Private Placement

5/18/2012 10:32:12 AM

TORONTO--(BUSINESS WIRE)--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 $2.333 million through the second tranche of a non-brokered private placement (the “Private Placement”) of 1,333,428 units (“Units”) priced at $1.75 per Unit. The aggregate gross proceeds raised by the Company in connection with both the first and the second tranche is $4.905 million.

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