Open EC Technologies, Inc.
TSX VENTURE : OCE

Open EC Technologies, Inc.

April 07, 2011 09:01 ET

Open EC Technologies, Inc. Announces a $1,500,000 Non-Brokered Private Placement

NORTH VANCOUVER, BRITISH COLUMIBA--(Marketwire - April 7, 2011) - Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE) is pleased to announce a non-brokered private placement of up to 18,750,000 units priced at $0.08 per unit for gross proceeds of $1,500,000. Each unit consists of one (1) common share of the Company and one half (1/2) share purchase warrant. Each full warrant will entitle the holder to acquire one (1) additional common share of the Company at a price of $0.12 per share for a period of one year from the date of issue. 

The Company will offer brokers a commission of 8% cash and 8% broker warrants to registered brokers for units sold as part of this offering. Each broker warrant entitles the holder to acquire common share of the Company at a price of $0.08 per share for a period of one year from the date of issue. 

The Company will pay finder's fee of up to 10% of the amount placed with subscribers, payable in cash to non-broker finders.

The private placement proceeds will be used for the acquisition of i-Plexus Solutions Inc, debt reduction and general working capital.

About Open EC Technologies, Inc.
Open EC is a TSX Venture Exchange listed company. Its subsidiary, SoftCare EC Solutions Inc. is an e-business software, services and solution provider. SoftCare's OpenEC® TradeLink e-business software includes solutions for Electronic Data Interchange (EDI), Healthcare Interoperability and Business Process Management. The Company sells the OpenEC® products and solutions to the healthcare, financial services and retail supply chain in North America. The company has a growing focus on turnkey solutions for US Healthcare Information Technology Reforms funded by the US Federal Government ARRA programs for Healthcare IT Interoperable mandates. Additional product and solution information is available on the web at www.SoftCareHealthcare.com and www.softcare.com and additional public company information is available on the web at www.openec.com. The Company's common shares trade on the TSX Venture Exchange under the symbol: OCE.

ON BEHALF OF THE BOARD

"Martyn A. Armstrong"

Martyn A. Armstrong
President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com) or by contacting Mr. Martyn A. Armstrong, President & CEO of the Company

This news release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

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