QUEBEC CITY, June 25 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE:
OPS) ("Opsens") Opsens is pleased to announce the closing of a private
placement (the "Offering") of 2,916,667 common shares at a price of CAD $0.60
per share for gross proceeds of CAD $1.75 million.
Opsens paid a finder's fee cash commission of CAD $87,500 to M Partners
Inc. Opsens has also issued non transferable warrants to the brokers (the
"Broker Warrants") at the closing. The Broker Warrants entitle the brokers to
acquire 204,167 common shares of Opsens at CDN $0.60 a share for a period of
24 months from the closing of the Offering. The securities issued pursuant to
the Offering will be subject to a 4-month restricted period expiring on
October 26, 2009.
The net proceeds of this Offering totals approximately CAD $1.6 million
and will be used for working capital purposes, acquisitions and marketing
expenses. Opsens wants to continue developing the oil and gas market,
particularly targeting Alberta oil sands producers using Steam Assisted
Gravity Drainage (SAGD), with its patented fiber optic OPP-W sensor for
pressure and temperature. This unique technology has proven its reliability
and is generating interest from major producers because in addition to
measuring temperature and pressure in real time, it increases production and
reduces operation costs.
About Opsens (www.opsens.com)
Opsens is a leading developer, manufacturer and supplier of a wide range
of fiber optic sensors and associated signal conditioners based on proprietary
patented and patent pending technologies. Opsens' sensors provide long-term
accuracy and reliability in the harshest environments. Opsens provides sensors
to measure pressure, temperature, strain and displacement to original
equipment manufacturers (OEM) and end-users in the oil and gas, medical,
high-power transformers, and laboratory fields. Opsens provides complete
technical support, including installation, training, after-sales service, for
its fiber optics systems that are regulated by the ISO 9001-2000 norm.
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.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements of Opsens to be materially different
from any future results, performance or achievements expressed or implied by
the said forward-looking statements.
For further information:
For further information: Pierre Carrier, President and CEO, Opsens Inc.,
(418) 682-9996; Louis Laflamme, CA, CFO, Opsens Inc., (418) 682-9996