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OPEL Technologies (TSXV: OPL) Completes $7.2 Million Private Placement

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OPEL Technologies, symbol OPL on the TSX Venture Exchange has successfully completed a $7.2 million private placement. OPEL Technologies is the developer of next-generation Gallium Arsenide semiconductor device technology called POET, which stands for Planar Opto-Electronic Technology.

Additional Information:

Company: OPEL Technologies
Website: http://www.opelinc.com/
Stock Symbol: TSXV: OPL
Date Published: Feb 19, 2013
Transcript: Available

Video Transcript:

I’m Megan Edwards for InvestmentPitch.com

OPEL Technologies, symbol OPL on the TSX Venture Exchange has successfully completed a $7.2 million private placement.

The financing, which was oversubscribed from the previously announced $5.5 million, consisted of 14.4 million units at a price of $0.50 per unit.

Each unit consisted of 1 common share and 1 common share purchase warrant, with the warrant exercisable at $0.75 for a 2 year period.

IPK Capital acted as agent for the financing.

Pinetree Capital, a diversified investment and venture capital firm trading on the Toronto Stock Exchange under the symbol PNP, subscribed to 1.5 million units.

As a result of this transaction, Pinetree now owns approximately 5.5 million common shares, and another 5 million of convertible securities.

OPEL Technologies is the developer of next-generation Gallium Arsenide semiconductor device technology called POET, which stands for Planar Opto-Electronic Technology.

Dr. Geoffrey Taylor has been developing POET for over 20 years and conducts his research at the
University of Connecticut.

Since 2001, OPEL has received in total over $14 million in government grant funding for the development of POET.

POET allows for the integration of optics and electronics on a single chip.

This technology immediately addresses the requirements of numerous military development and procurement
programs for sensors, communications and computing.

POET has the potential to become a disruptive technology within numerous major commercial markets by overcoming the physical size and energy consumption limitations of silicon CMOS semiconductors in a highly economical manner.

A functional POET device may reduce the power consumption of laptops, tablets, smartphones, servers, and/or other electronic devices by 80%.

The shares currently trade at $0.62, and with approximately 132 million shares outstanding, is capitalized at $82 million.

For more information please visit the company’s website www.opelinc.com or call 203-612-2366 extension 2612 or email p.agudow@opelinc.com.

I’m Megan Edwards for InvestmentPitch.com
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