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CURRENT TECHNOLOGY COMPLETES PRIVATE FINANCING; HELPS FUND SKIN CARE SYSTEM ENDORSED BY LINDA EVANS

 VANCOUVER, British Columbia, June 17 /PRNewswire/ -- Current Technology Corporation (NASDAQ: CRTC) today announced the completion of its previously disclosed $3,750,000 (Cdn) private placement financing.
 The financing consisted of 1,500,000 units at a price of $2.50 (Cdn) per unit. Each unit represented one common share and one purchase warrant. The purchase warrant gives the holder the right to purchase an additional common share at $2.75 (Cdn) until May 17, 1994. The purchase warrants will not be called for trading. The company paid cash commissions equal to 7.5 percent of the proceeds. The purchasers were overseas institutional investors.
 Of the net proceeds, Current Technology reports that $2,100,000 (U.S.) has funded the company's 40 percent interest in Bioimage L.P. Bioimage is a partnership with Sheldon J. Sevinor, M.D., a prominent Boston plastic surgeon and developer of an advanced skin care treatment regimen. Bioimage just announced the signing of television personality Linda Evans as a key participant in the promotion of this new product line. Product launch is expected in the autumn, 1993 via Infomercial.
 Current Technology is the developer of ElectroTrichoGensis, or ETG Therapy, a treatment for common baldness. The ETG Therapy device has recently completed Phase III clinical trials. Current Technology is also the parent company of CTC Communications, the publisher of Dermatology Times of Canada and CTC Ventures, a manufacturer and marketer of consumer products focusing in the area of personal care items.
 -0- 6/17/93
 /CONTACT: Robert K. Kramer, CFO, Current Technology Corporation, 604-684-2727; or Tom Laughran or Gale Strenger, 708-564-5610, Mark Perlgut, 212-874-6800, or Earle Brown, 813-796-1452, all of The Investor Relations Company, for Current Technology Corporation/
 (CRTC)


CO: Current Technology Corporation ST: British Columbia IN: MTC SU: FNC

JG -- DE023 -- 3221 06/17/93 15:24 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
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