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SHH Sonomax Technologies

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Share Name Share Symbol Market Type
Sonomax Technologies TSXV:SHH TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Sonomax Hearing Healthcare Inc. Announces Completion of $2 Million Private Placement

30/05/2008 1:00pm

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MONTREAL, QUEBEC is pleased to announce the completion of its previously-announced private placement by issuing 13,466,666 units at a price of $0.15 per unit, for gross proceeds to Sonomax of $2,019,999. Each unit consists of one common share of Sonomax and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of $0.25 per share for a period of two years from the issuance thereof.

In connection with the private placement, Sonomax paid commissions and finders' fees to Max Capital Markets Ltd. and Investpro Securities Inc. in an amount equal to 8.5% of the proceeds raised by them in the private placement, and granted compensation options entitling them to purchase up to 1,110,666 units, representing 8.5% of the number of units sold by them in the private placement. Each compensation option entitles the holder thereof to acquire one unit, consisting of one common share of Sonomax and one warrant, at a price of $0.15 per unit for a period of two years from the issuance thereof. Each warrant entitles the holder thereof to purchase one additional common share at a price of $0.25 per share for a period of two years from the issuance thereof.

The net proceeds from the private placement will be added to Sonomax's working capital.

The common shares and warrants issued by Sonomax under the private placement are subject to a four-month and one day hold period, in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The closing of the private placement has increased the number of outstanding common shares of Sonomax to 162,412,953.

About Sonomax Hearing Healthcare Inc.:

Sonomax Hearing Healthcare Inc. is a leader in the development and manufacturing of intra-ear technologies. The Corporation's patented custom-fit, instant-fit expansion earpieces deliver a perfect acoustic seal every time and can be certified by SonoPass®, the Corporation's proprietary, computer-generated proof-of-performance software. Building on its technology leadership in hearing protection, Sonomax has expanded the application for its technologies into high-growth consumer markets such as MP3 audio, multi-media and gaming earphones, as well as BluetoothTM headsets for telephony.

Please visit our website at: www.sonomax.com

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Hearing Healthcare Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Sonomax Hearing Healthcare Inc. Nick Laperle, President 514-932-3745 nlaperle@sonomax.com www.sonomax.com

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