Sofame Announces $500,000 Private Placement

MONTREAL, Jan. 24 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment is pleased to announce that the Company plans to issue up to 10,000,000 non-brokered units at a price of $0.05 per unit, with each unit comprised of one common share and one common share purchase warrant.  Each whole warrant is exercisable at a price of $0.10 per common share from the date of issue up to and including January 24, 2016.  The new shares will be subject to a mandatory 4-month hold period, and the proposed transaction is subject to approval by the TSX Venture Exchange. Interest in the issue is already significant and management expects the issue to close very quickly. Sofame has begun 2011 with a stable balance sheet due to conversions of debt to common shares and significantly reduced expenses.  Proceeds raised will be used for selling expenses and immediate working capital requirements. 

John Gocek, Sofame's President and CEO reports: "This funding should allow Sofame to complete delivery of an important order, while closing on several significant new contracts should occur over the next three to four months. Intensive efforts with our key representatives and new strategic partner for installation of Sofame systems across North America are very encouraging."

Sofame's Board comprises three independent Directors, Robert Presser, Vice President of Acme Engineering of Montreal, is Chairman.  Fahim Samaha, Chairman of Soffimat SA in Paris, France, is a Director, and Josh Costell, Executive Vice President and General Manager of Tozour Energy Services in King of Prussia, Pennsylvania, is the third Director.

About Sofame

Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit

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.


For further information:

Stone Communication Services
Bill Mitoulas
(416) 867-2535

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