Sonomax Hearing Healthcare Inc.

Sonomax Hearing Healthcare Inc.

September 22, 2005 08:12 ET

Sonomax Hearing Healthcare Announces Closing of Additional Private Placement to Satisfy Oversubscription

MONTREAL, QUEBEC--(CCNMatthews - Sept. 22, 2005) -


Sonomax Hearing Healthcare Inc. (TSX VENTURE:SHH) previously announced (press release - September 8, 2005) an additional private placement of 540,000 units ("Units") to accommodate the oversubscriptions it received on the private placement of 10,000,000 units completed on August 31, 2005. The offering originally consisted of $2 million, was then extended to $3 million to accommodate demand, and given continuing and additional demand resulting from the original offering, an additional 540,000 Units at a price of $0.30 per Unit for gross proceeds of $162,000 were issued today.

Each unit consists of one common share of Sonomax and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share of Sonomax at a price of $0.60 per share for a period of twelve months.

There were no insiders subscribers for the 540,000 units.

Sonomax paid to Lorian Group a cash commission in the amount of $8,100, issued to Lorian Group Inc. broker's warrants entitling it to acquire 54,000 common shares of Sonomax at a price of $0.30 per share until September 21, 2007, and also agreed to pay to Lorian Group a cash commission equal to 5% of the gross proceeds from the exercise of the Warrants which are part of the above mentioned Units.

The proceeds from the private placement will be added to Sonomax's working capital.

The common shares and Warrants issued by Sonomax under the private placement are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The private placement has increased the number of outstanding common shares of Sonomax to 58,163,748.

About Sonomax Hearing Healthcare Inc

Sonomax has invented a unique earpiece that is the gatekeeper between sounds and eardrums. With its multi-purpose capabilities, it can shut the gate on harmful sounds like workplace noise with unparalleled efficiency, and can also welcome sounds like music and voices with perfect fidelity. Technological advances in the hearing protection, hearing aid and personal electronics fields, presently lack the last piece of the puzzle -- an interface that will optimize their very exciting potentials. Sonomax's scientifically proven proprietary expansion technology is the last piece of the puzzle -- an instant-fit, custom-made earpiece that delivers a perfect acoustic seal every time, along with a computer-generated proof of performance.

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

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