Shelton, CT and Toronto, ON, August 27, 2012 – OPEL Technologies Inc. (TSX-V: OPL and OTCQX: OPELF) (“OPEL” or “the Company”) previously announced that it has completed to date a total of $1,557,420 of a $3,000,000 private placement whereby IBK Capital Corp. (“IBK”) is acting as agent, on a best efforts basis, with respect to an offering of up to 13,043,478 units at a price of $0.23 per unit for proceeds of up to $3,000,000 (the “Offering”). Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of OPEL for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the Offering are subject to a hold period which expires four months and one day following closing. The Company will pay a cash commission of 7% of the funds raised and 10% of the units sold in the form of broker warrants. Each broker warrant allows the holder to acquire one common share of OPEL at a price of $0.23 for 48 months after the closing date… Read the Full Press Release
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