Date Closed

April 24, 2012

Lead Office

Québec City

Value

8.97 Million CAD

On April 24, 2012, TSO3 Inc. announced the closing of a private placement on a firm underwritten basis for the purchase of 6,900,000 units (including the underwriters’ option) at C$1.30 per unit (the “Issue Price”), for total gross proceeds of C$8,970,000. Each unit is composed of one common share and one-half of one common share purchase warrant of the Corporation and is subject to a hold period of four months and one day. Each full warrant entitles its holder to purchase one additional common share of TSO3 at a price of C$2.00 per common share until April 24, 2013. The offering was made through a syndicate of underwriters led by Desjardins Capital Markets and Canaccord Genuity Corporation and including Byron Capital Markets as well as Laurentian Bank Securities.

TSO3, headquartered in Québec City, Québec, specializes in the research and development of innovating, high-performance medical instrument sterilization technology with high commercial potential.

McCarthy Tétrault LLP represented Desjardins Capital Markets, the underwriter, with a team led by Philippe Leclerc.