QUEBEC CITY, June 19 /CNW Telbec/ - Opsens Inc. (TSX VENTURE EXCHANGE:
OPS) ("Opsens" or the "Company") Opsens announces its intention to complete a
non-brokered private placement (the "Offering") of up to 3,333,333 common
shares at a price of CAD $0.60 per share for gross proceeds of up to CAD $2
A few weeks ago, Opsens reported that its OPP-W pressure/temperature
sensor had completed its first year of successful operation in the wells of an
oil sands producer in Alberta using Steam Assisted Gravity Drainage ("SAGD").
This news has generated additional interest from oil and gas producers and the
Company anticipates larger scale commercialization shortly. Consequently,
Opsens wants to strengthen its financial position to be ready to respond to
its clients' requests.
Opsens will pay to M Partners Inc. a finder's fee cash commission equal
to 7% of the gross proceeds. For some subscribers, the finder's fee cash
commission will be paid at a decreased rate of 3.5%. Opsens will also issue
non transferable warrants to M Partners Inc. (the "Broker Warrants") at the
closing. The Broker Warrants entitle M Partners Inc. to acquire a number of
common shares equal to 7% of the number of shares issued under the private
placement at CDN $0.60 a share for a period of 24 months from the closing of
the private placement. The securities issued pursuant to the Offering will be
subject to a 4-month restricted period.
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