Opsens plans C$6.25 million private placement of units

By Devika Patel

Knoxville, Tenn., Nov. 5 - Opsens Inc. announced it plans to price a C$6.25 million private placement of units. The deal is being conducted by a syndicate of agents led by Desjardins Securities Inc. and Blackmont Capital Inc. and including Cormark Securities Inc.

The company will sell units at a price to be determined in the market context by Opsens and the agents. Each unit will consist of one common share and one half-share warrant. Each whole warrant will be exercisable for two years.

The securities will have a four-month hold period.

The agents will have a 15% greenshoe.

Opsens will pay a 7% finder's fee to the agents and issue 7% in agent's warrants, each exercisable for one common share for two years. The exercise price of the agent's warrants will be equal to the price of the units sold in the deal.

Proceeds will be used for acquisitions, commercialization and for general working capital purposes.

Quebec City-based Opsens develops fiber optic sensors and signal conditioners used in the oil and natural gas sector.

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