Aquarius Surgical Technologies Inc. is looking to raise between C$500,000 and C$2.5 million via an offering of units in a nonbrokered private placement.

The Toronto-based company, which develops medical laser systems, plans to price the placement at 35 cents each. Each unit is going to be made up of a common share and half of a purchase warrant.

Each whole warrant can be exchanged for a common share of the company for 70 cents each during a 30-month period from the date of issue.