New Issue: OPEL International completes C$7.55 million private placement of units

By Devika Patel

Knoxville, Tenn., July 22 - OPEL International Inc. said it raised C$7.55 million in a private placement of units. IBK Capital Corp. was the lead agent for the deal.

The company sold 25,164,665 units of one common share and one half-share warrant at C$0.30 each. Each full warrant is exercisable at C$0.50 until July 21, 2012.

Proceeds will be used to secure key components for solar products, for research and development and for general working capital purposes.

Based in Toronto, OPEL is a developer and supplier of concentrating photovoltaic panels.

Issuer:	OPEL International Inc.
Issue:	Units of one common share and one half-share warrant
Amount:	C$7,549,400
Units:	25,164,665
Price:	C$0.30
Warrants:	One half-share warrant per unit
Warrant expiration:	July 21, 2012
Warrant strike price:	C$0.50
Agent:	IBK Capital Corp.
Settlement date:	July 22
Stock symbol:	TSX Venture: OPL
Stock price:	C$0.335 at close July 21
Market capitalization:	C$19.65 million

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