Sofame Plans $275,000 Private Placement at $0.02

MONTREAL, May 16, 2013 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is seeking to raise $275,000 via the issue of a non-brokered private placement of units at a price of $0.02 per unit.  Each unit will be comprised of one common share and a twelve-month purchase warrant for half of one common share at $0.05 cents (13,750,000 common shares and 6,875,000 common share purchase warrants). Units will be sold in tranches of $5,000, and the shares will be subject to a 4-month hold period.  Proceeds of the funding would be applied specifically to outstanding trade debts, interest, taxes, government liabilities and up to $50,000 for working capital. The private placement is subject to the TSX Venture Exchange's Notices to Issuers dated August 17, 2012, and April 12, 2013, regarding Temporary Relief from Certain Pricing Requirements. Under the rules and regulations of the bulletin, the Company is in the process of providing TSXV with information and documentation to support TSXV's conditional acceptance of the Private Placement and granting relief from certain existing pricing requirements.

The Private Placement has been duly and validly approved by the Company's Board of Directors, and no Directors have a direct interest in the Private Placement. This Private Placement is necessary to support existing operations, activities and assets.  None of the proceeds will be used to fund the purchase or pursuit of new businesses, operations or activities, and not more than an aggregate $20,000 will serve to compensate, settle indebtedness with or otherwise satisfy obligations to any persons who are Related Parties (as such term is defined in Policy 1.1 of the TSX Venture Exchange Corporate Finance Manual). No Related Party who participates in the Private Placement will receive proceeds from the private placement in settlement of an obligation.

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:

John Gocek
President & CEO
(514) 523-6545 x200

Stone Communication Services
Jason Stone
(416) 867-2533

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