BiOasis Technologies Inc. increased its nonbrokered private placement to about C$4.1 million from about C$3.2 million due to oversubscription.

The company is now offering 5,857,142 units, up from about 4.5 million units earlier. Each unit comprises 1 common share and 1 common share purchase warrant, and is priced at 70 Canadian cents.

Each warrant entitles the holder to buy 1 additional common share at C$1 per share for 24 months from the date of closing, subject to an exercise acceleration clause.