Innovotech Inc.
TSX VENTURE : IOT

Innovotech Inc.

December 06, 2007 13:24 ET

Innovotech Inc. Announces Private Placement

EDMONTON, ALBERTA--(Marketwire - Dec. 6, 2007) - Innovotech Inc. ("Innovotech")(TSX VENTURE:IOT) is pleased to announce that, subject to regulatory approval, it intends to complete a non-brokered offering of up to 3,000,000 units ("Units") at a price of $0.60 (CAD) per Unit for gross proceeds of up to $1,800,000 (CAD) by way of a private placement (the "Private Placement"). Each Unit is comprised of one (1) common share ("Common Share") and one-half (1/2) Common Share purchase warrant. Each whole warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.75 per Common Share for a period of one (1) year following the date of closing.

No bonus, finder's fee, commission or agents options will be paid in connection with the Private Placement.

Innovotech intends to use the proceeds from the Private Placement for development of its product lines and for general working capital purposes.

About Innovotech Inc:

Innovotech is a product development company focusing on the development of solutions to medical, agricultural and industrial problems caused by microbial biofilms. Biofilms are protected communities of microorganisms which are very common and very difficult to treat due to their inherent resistance. They have been implicated in a host of devastating infections in agriculture, human health and industry. No diagnostics or antibiotics are currently approved for use in infections involving biofilms.

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

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