IOT Innovotech Inc

Innovotech Inc. (TSX VENTURE:IOT), a pioneer in the field of biofilm product
development, is pleased to announce that, subject to regulatory approval, it
intends to complete an offering of units ("Units") at a price of $0.72 per Unit
by way of a private placement (the "Offering"). The Offering is subject to
minimum gross proceeds of $500,000 and maximum gross proceeds of $1,500,000.
Each Unit is comprised of one (1) common share ("Common Share") and one-half
(1/2) Common Share purchase warrant (each whole warrant, a "Warrant"). Each
Warrant entitles the holder to purchase one (1) additional Common Share at a
price of $0.90 per Common Share for a period of three (3) years following the
date of closing, provided that if after four months and one day following the
closing date the closing price of the common shares is equal to or exceeds $1.35
for thirty (30) consecutive days, then the warrants shall automatically
accelerate to expire on the date which is thirty (30) days after the thirty (30)
day period. 


Innovotech intends to use the proceeds from the Offering for general working
capital purposes, to support marketing of its veterinary and human test kits and
to support efforts to gain regulatory approval of its agricultural industry
products.


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 responsible
for a host of diseases both in human health and agriculture due to their
inherent resistance to existing antibiotics and disinfectants. Aside from
Innovotech's products there are no antibiotics, disinfectants, diagnostics or
regulatory standards 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 three commercial products,
the MBEC Assay(TM), bioFILM PA(TM) and InnovoSCEPT veterinary kits. The MBEC
Assay(TM) is a high throughput biofilm growth device that was recently approved
as an ASTM International standard. bioFILM PA(TM) is the first diagnostic kit to
assist physicians in the selection of the most effective combination antibiotic
treatment of patients with biofilm-based chronic lung infections, while the
InnovoSCEPT veterinary kits are designed to determine the most effective
antibiotic treatment for infections in both large and small animals. 


Innovotech also has two products in advanced stages of development; Agress(R) is
a unique, environmentally friendly seed treatment and plant spray designed to
protect crops against both bacterial and fungal infections and Sani-Lux(TM) is a
light-activated, natural hard surface sanitizer.


Connect with us:

Website: www.innovotech.ca

Blog: www.cf-test.ca

Twitter: www.twitter.com/innovotech

Facebook: www.facebook.com/innovotech

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