Redlen Technologies closes C$7.9 million in equity financing

On February 9, 2010, Redlen Technologies Inc. (Redlen) closed a CDN $7.9 million preferred equity financing round led by BC Advantage Funds with participation by other major venture capital investors. Redlen also completed the concurrent retirement of certain debt obligations. Redlen is a leading manufacturer of high resolution Cadmium Zinc Telluride semiconductor radiation detectors-technology used in detection and imaging equipment including CT scanning and baggage scanning. Fasken Martineau represented Redlen Technologies Inc. with a team that included Shahrooz Nabavi, Keith Spencer and Ally Bharmal (Corporate/Commercial and Private Equity & Venture Capital).