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Opsens Inc. completes $8.5 million equity financing


News provided by

OPSENS INC.

Feb 18, 2014, 10:52 ET

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

QUÉBEC, Feb. 18, 2014 /CNW Telbec/ - Opsens Inc. (TSX-V: OPS) (the "Company" or "Opsens") is pleased to announce that it has completed its previously announced public offering (the "Offering"), for aggregate gross proceeds of $8,505,104. In connection with the Offering, the Company issued a total of 4,666,800 units (the "Units") at a price of $0.75 per Unit and 6,164,300 common shares at a price of $0.73 per common share for gross proceeds of $8,000,039. In addition, Opsens also announces that the underwriters (hereinafter defined) exercised part of the over-allotment option to purchase an aggregate number of 673,420 Units at a price of $0.75 per Unit for gross proceeds of $505,065. The Offering was completed by a syndicate of underwriters led by RBC Capital Markets and including Paradigm Capital Inc. (collectively, the "Underwriters").

Each Unit consists of one common share in the capital stock of Opsens and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder thereof to purchase one common share at a price of $1.05 within 24 months from the initial closing date of the Offering.

The Company intends to use the net proceeds of the Offering to prepare the commercialization and marketing strategy of its Fractional Flow Reserve ("FFR") products, to fund research and product development and to fund its working capital.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

About Opsens Inc. (www.opsens.com)

Focusing on two main growth markets, FFR in medical instrumentation and oil and gas, Opsens develops, manufactures and installs systems to measure pressure and temperature as well as other parameters using fiber optic sensing technologies. These systems are designed around patented technologies that are effective and durable in extreme conditions.

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.

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: OPSENS INC.

For further information:

Thierry Dumas, CPA, CA, Chief Financial Officer, 418.682.9996

Louis Laflamme, CPA, CA, Chief Executive Officer, 418.682.9996

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Organization Profile

Opsens Inc.

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