Innovotech Announces Completion of Private Placement

Innovotech Inc. (TSX VENTURE:IOT) ("Innovotech") is pleased to announce that,
further to its press release of December 4, 2012 and January 22, 2013, it has
received final acceptance from the TSX Venture Exchange for a non brokered
private placement of 1,366,667 units ("Units") at a price of $0.30 per Unit (the
"Offering") for gross proceeds of $410,000. Each Unit is comprised of one (1)
common share ("Common Share") and one (1) Common Share purchase warrant
("Warrant"). Each Warrant entitles the holder to purchase one (1) additional
Common Share at a price of $0.40 per Common Share for a period of three (3)
years following the date of closing, provided that if the trading volume of the
Common Shares on the principal market on which such shares trade is equal to or
exceeds 100,000 Common Shares in any given thirty (30) consecutive days prior to
the expiration date of the Warrants (the "Acceleration Period") and on each day
the shares trade the closing price is $0.60 per Common Share or greater, then
the Warrant shall automatically accelerate to expire fourteen (14) days
following the last day of the Acceleration Period.


Innovotech intends to use the proceeds from the Offering to support its
antimicrobial technology to address hospital-acquired infections.


The participation in the private placement by a director of Innovotech may be
considered a "related party transaction" (the "Related Party") as defined under
Multilateral Instrument 61- 101 ("MI 61-101"). Innovotech has determined that
exemptions from the formal valuation and minority shareholder approval
requirements under MI 61-101 are available. In particular, Innovotech has
determined that the exemptions set out in paragraphs (a) and (b) in section 5.5
of MI 61-101 are applicable since the aggregate consideration to be paid by the
Related Party does not exceed 25% of the market capitalization of Innovotech as
at February 4, 2013 and Innovotech is not listed on the Toronto Stock Exchange
but only on the TSX Venture Exchange. In addition, in reviewing the minority
shareholder approval exemptions, the independent directors determined that the
exemption set out in paragraph (1)(b) in section 5.7 of MI 61-101 is applicable.


The securities issued pursuant to the Offering are subject to a hold period
expiring on June 8, 2013.


About Innovotech Inc.

Innovotech Inc. is a pioneer in the field of biofilm product development,
focused on providing innovative and practical solutions to medical, agricultural
and industrial problems caused by microbial biofilms. Biofilms are organized
communities of microorganisms that exist in virtually every natural environment
and are responsible for a host of diseases in human health, animal health and
agriculture. There are few products or regulatory standards, aside from those of
Innovotech, designed specifically for biofilm- forming organisms.


Innovotech has a broad range of products that address the issue of biofilms
within a number of different industries, including commercially available
products in a variety of market segments; the MBEC Assay(TM), InnovoSIL(TM),
bioFILM PA(TM) InnovoSCEPT-Human and InnovoSCEPT-Veterinary tests. The MBEC
Assay(TM) is a high throughput biofilm growth device that was recently approved
as an ASTM International standard. InnovoSIL(TM) is a family of silver-based
antimicrobials promising superior performance for medical device coatings,
bioFILM PA(TM) and InnovoSCEPT-Human are the first diagnostic tests to assist
physicians in the selection of the most effective antibiotic treatment for
patients with biofilm-based chronic infections, while the InnovoSCEPT veterinary
tests are designed to determine the most effective antibiotic treatment for
chronic infections in both large and small animals.


Agress(R) is a unique, environmentally friendly seed treatment and plant spray
designed to protect crops against both bacterial and fungal infections. It is
entering the regulatory approval stage.


Connect with us: 

Website: www.innovotech.ca 

Blog: www.cf-test.ca 

Twitter: www.twitter.com/innovotech 

Facebook: www.facebook.com/innovotech

FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovotech Inc.
Ken Boutilier
President and CEO
[phone] ext. 221
[phone] (FAX)
[e-mail]
www.innovotech.ca