ALPHINAT ANNOUNCES CLOSING OF THE THIRD AND FINAL TRANCHE OF ITS PREVIOUSLY-ANNOUNCED PRIVATE PLACEMENT FOR A MINIMUM OF $500,000 AND A MAXIMUM OF $1,000,000

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MONTREAL, Feb. 11 /CNW Telbec/ - Alphinat Inc. ("Alphinat") (TSX-V: NPA), a leader in innovative Software for the Smart Enterprise™, announces that it has completed the closing of the third and final tranche of its previously-announced private placement of units for a minimum gross proceeds of $500,000 and a maximum gross proceeds of $1,000,000 at a price of $0.10 per unit, each unit comprised of one common share and one eighth of a common share purchase warrant. Each whole warrant issued in connection with the third tranche entitles the holder to purchase one additional common share at a price of $0.12 on or before February 11, 2014. This final tranche brings the aggregate total up to the maximum intended financing of $1,000,000 under this private placement. The net proceeds from the private placement will be used to fund the expansion of the sales team and for working capital purposes. The units have been sold to "accredited investors" in the Province of Québec on a prospectus-exempt basis.

The closing of this third tranche results in the issuance of 1,000,000 units at a price of $0.10 for an aggregate gross proceeds to Alphinat of $100,000.

This third tranche closing follows the confirmation earlier this month by the TSX Venture Exchange of the suitability as insider of one of the subscribers.

In connection with the private placement, Alphinat has paid to Capital CCFL s.e.n.c., an Exempt Market Dealer registered with the Autorité des marchés financiers, a finder's fee in a maximum amount equal to 6% of the gross proceeds of the private placement raised through CCFL Capital and grant compensation options to Capital CCFL to purchase up to 6% of the common shares issued in connection with the private placement.  Each compensation option will entitle its holder to acquire one additional common share of Alphinat at a price of $0.10 on or before February 11, 2016.

The common shares and warrants issued by Alphinat under this third tranche closing are subject to a four-month hold period expiring on June 12, 2011, in accordance with applicable securities laws.  The second closing of the private placement has increased the number of issued and outstanding common shares of Alphinat to 47,453,612. The private placement is subject to final regulatory approval from the TSX Venture Exchange.

About Alphinat

Software for the Smart Enterprise™ providing agility to leverage existing IT assets and lower costs.

Alphinat develops, markets and supports software technology that enables non-technical managers to configure and deploy form based Web applications and utilities that helps organizations and governments better serve clients. This technology uses sophisticated data organization and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software is ubiquitous across organizational entities and information processing platforms, permitting a high level of collaboration in delivering complex service outcomes using existing legacy systems.  It provides efficient and cost-effective solutions to clients at both the time of acquisition and on an ongoing basis.

Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Alphinat inc.

For further information:

Mr. Philippe Lecoq
Chief Executive Officer Alphinat Inc.
(514) 398-9799 ext 222

Profil de l'entreprise

Alphinat inc.

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