Theralase Advances Intellectual Property of Anti-Cancer Technology

Toronto, Ontario – July 17, 2014 Theralase Technologies Inc. (“Theralase”) (TSXV: TLT) (TLTFF: OTC Link®) announced today that it has applied for a US patent for a multi-wavelength laser light source that is capable of safely and effectively activating its patented and patent pending Photo Dynamic Compounds (PDCs) in the destruction of cancer at various tissue depths.

Theralase’s PDCs are able to be activated by laser wavelengths ranging from the visible spectrum to the Near Infrared (NIR) spectrum. This newly conceived multi-wavelength laser system is able to activate the PDCs from a few hundred microns (millionths of a meter) to ten centimeters in depth allowing oncologists the ability to target surface as well as deep cancerous tumors.

Dr. Arkady Mandel, Chief Scientific Officer of Theralase stated, “The new multi-wavelength laser system combined with Theralase’s PDCs presents the first opportunity for an oncologist to be able to provide a fully “patient specific” Photo Dynamic Therapy (PDT) treatment. The treatment is customizable for a patient, by optimizing the quantity of PDC delivered and the quantity and wavelength of laser light delivered based on the disease characterisation, which includes: the depth of the cancer, the localisation of the cancer in the tissues and the stage of the progression of the disease. In terms of bladder cancer, for example, patients diagnosed with a Non Muscle Invasive Bladder Cancer (NMIBC) that is fairly superficial would benefit from activation of the PDCs that has localized in their cancer cells in the lower visible range (i.e.: blue, green wavelengths). Patients; however, with more advanced Muscle Invasive Bladder Cancer (MIBC) that presents deeper in the organ, would best be served by having the PDCs in their cancer cells activated in the higher visible ranges (i.e.: red to near infrared wavelengths). The clear advantage of the combination of Theralase PDCs and the customized TLC-3000 laser delivery system is truly personalized care for the patient. As a result, Theralase’s approach can eliminate unnecessary treatments, minimize the potential for adverse events and ultimately improve patient outcomes. Based on the recent discovery of the cancer-specific “memory” effect, where Theralase demonstrated an ability for the PDCs to influence the immune response preventing further cancerous tumors from occurrence, the technology may now have an opportunity to destroy the primary tumor with high precision and then simultaneously program the immune system to destroy any remote cancer cells.”

Roger Dumoulin-White, President and CEO of Theralase stated, “I am delighted that Theralase continues to make great strides in the development and more comprehensive intellectual protection of our anti-cancer PDC technology. With the filing of this patent submission, Theralase is pursuing a broad intellectual property coverage strategy on both our PDC technology and the customized laser systems that activate them to ensure long lasting patent protection for our shareholders. Our goal is to provide a fully customizable PDC solution to each and every patient inflicted with cancer; whereby, we provide the personalized PDT to destroy their cancer permanently and prevent its recurrence, all in a single treatment.”

About Theralase Technologies Inc.

Founded in 1994, Theralase Technologies Inc. (“Theralase”) (TSXV: TLT) (TLTFF: OTC Link®) designs, manufactures and markets patented super-pulsed laser technology which is used for the elimination of pain, reduction of inflammation and dramatic acceleration of tissue healing. Theralase has sold over 800 systems in Canada and over 400 systems in the US and international markets to licensed healthcare practitioners such as: medical doctors, chiropractors, physical therapists and athletic therapists.

Theralase has been so successful in healing nerve, muscle and joint conditions in clinical practice that Theralase’s scientists are now investigating the application of its lasers in the destruction of cancer using specially designed molecules called Photo Dynamic Compounds (PDCs) which localize to the DNA of cancer cells and then, when activated by light, destroy the cancer cells.

Additional information is available at www.theralase.com and www.sedar.com.

This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.

For More Information:

Roger Dumoulin-White

President & CEO, Theralase Technologies Inc.

1.866.THE.LASE (843-5273) ext. 225

416.699.LASE (5273) ext. 225

rwhite@theralase.com

www.theralase.com