Opsens announces $6,25 million private placement

    QUEBEC CITY, Nov. 5 /CNW Telbec/ - Opsens Inc. ("Opsens", or the
"Company") (TSX-V: OPS) is pleased to announce that it has entered into an
agreement with a syndicate led by Desjardins Securities Inc. and Blackmont
Capital Inc., and including Cormark Securities Inc. (the "Agents"), to raise
up to a maximum of $6,250,000 of Units (the "Units") by way of best efforts
private placement ("the Offering"). The price of each unit will be determined,
in the context of the market, by the Agents and Opsens. Each unit is comprised
of one common share and one half-common share purchase warrant. Each full
warrant will entitle the holder to purchase one common share for a period of
24 months following the closing date. The Units will be offered to accredited
investors in the Province of Quebec, Ontario, British Columbia, Alberta,
Saskatchewan and Manitoba. The securities issued pursuant to the Offering will
be subject to a 4 month hold period and the Offering will be subject to normal
regulatory approvals.
    The Company has also granted the Agents an Option to purchase up to an
additional 15% of the Units at the Offering Price, exercisable until 24 hours
prior to Closing.
    Opsens will pay 7% cash commission to the Agents and issue to the Agents
warrants (the "Broker Warrants") entitling them to purchase that number of
common shares of Opsens as is equal to 7% of the number of Units sold under
the Offering. The Broker Warrants shall be issuable at an exercise price per
common share equal to the Unit issue price for a period of twenty-four (24)
months from the date of closing.
    The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any State in which such offer, solicitation or sale would be unlawful.
    The net proceeds of the offering will be used for acquisitions,
commercialization and for general working capital purposes. Opsens' primary
targets are the oil and gas and the medical device sectors, which represent
higher potential. In the oil and gas sector, Opsens is targeting the oil sands
market in Alberta, where Steam Assisted Gravity Drainage (SAGD) is becoming
the key production process, and where there is an opportunity to install in
multiple oil wells its high temperature fiber optic pressure sensor.

    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
patent 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,
energy, scientific and military laboratory fields. Opsens offers technical
services, such as on site installation, training and turnkey fiber optic

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this press 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 Chief Executive
Officer, (418) 682-9996; Louis Laflamme, CA, Chief Financial Officer, (418)

Organization Profile

Opsens Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890