Luminor Medical Technologies Inc. plans to raise C$2 million in a nonbrokered private placement of company units.

Luminor Medical will issue 9 million units at 22.5 Canadian cents apiece with each unit comprising one share and one-half of a purchase warrant.

Each whole warrant is exercisable into a company share for 30 Canadian cents within 24 months from the date of issue.

The placement will help raise funds for working capital purposes.