Sofame Raises $300,000 in First Closing of $500k Private Placement

MONTREAL, Jan. 28 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment is pleased to announce that today the Company issued by way of private placement 6,000,000 non-brokered units at a price of $0.05 per unit. Shares are subject to a 4-month hold period. Each tranche of $5,000 is accompanied by 100,000 common share purchase warrants, entitling the holder to acquire one additional common share of Sofame at an exercise price of $0.10 until January 27th, 2016. Pinetree Capital, an insider in Sofame, acquired 2,000,000 common shares and 2,000,000 common share purchase warrants. There are currently 141,658,652 issued and outstanding common shares of Sofame.

According to John Gocek, President and CEO said, "The response from investors gives us cause for great optimism. Sofame's prospects for sustained profitable growth are excellent this year."

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 www.sofame.com.

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 SOFAME TECHNOLOGIES INC.

For further information:

Stone Communication Services
Bill Mitoulas
(416) 867-2535
billm@stoneco.com
www.stoneco.com

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SOFAME TECHNOLOGIES INC.

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