Sonomax Hearing Healthcare Inc.
TSX VENTURE : SHH

Sonomax Hearing Healthcare Inc.

May 14, 2008 07:00 ET

Sonomax Announces $2 Million Private Placement

MONTREAL, QUEBEC--(Marketwire - May 14, 2008) - NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sonomax Hearing Healthcare Inc. (TSX VENTURE:SHH) announces that it intends to effect a private placement in a maximum amount of $2 million to "accredited investors" in Canada. In the private placement, Sonomax intends to issue a maximum of 13,333,333 units at a price of $0.15 per unit, for maximum proceeds to Sonomax of $2 million. Each unit will be comprised of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at a price of $0.25 for a period of two years.

The net proceeds from the private placement will be used by Sonomax for corporate development and general working capital purposes. Closing of the private placement is expected to occur on or about May 16, 2008.

In connection with the private placement, Sonomax may pay commissions and finders' fees to registered persons and others in an amount equal to 8.5% of the proceeds from the sale of the units, and grant compensation options to such persons entitling them to purchase a number of units equal to 8.5% of the number units sold in the private placement.

The common shares and warrants comprised in the units will be subject to a four-month "hold period" from the date of closing under the policies of the TSX Venture Exchange and applicable securities legislation.

About Sonomax Hearing Healthcare Inc:

Sonomax Hearing Healthcare Inc (TSX VENTURE:SHH) is a leader in the development and manufacturing of intra-ear technologies. The company's patented custom-fit, instant-fit expansion earpieces deliver a perfect acoustic seal every time and can be certified by SonoPass®, the company'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 Bluetooth™ headsets for telephony.

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.

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