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Neovasc Announces Closing of US$72 Million Registered Direct Featuring of Widespread Shares Priced At-The-Market

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VANCOUVER, CANADA, Feb. 12, 2021 (Globe NEWSWIRE) — through NewMediaWire – Neovasc Inc.(“Neovasc” or the “Company”) (Nasdaq: NVCN / TSX: NVCN) introduced nowadays that it has closed its formerly announced sale of an mixture of 36,000,000 popular shares at a invest in selling price of US$2.00 for every prevalent share in a registered immediate offering (the “Offering”) priced at-the-sector under the Nasdaq Capital Industry (the “Nasdaq”) policies for aggregate gross proceeds to the Corporation of about US$72 million, ahead of deducting placement agent’s costs and estimated expenditures of the Supplying payable by the Firm.

H.C. Wainwright & Co. acted as the exclusive placement agent for the Offering.

Every typical share was marketed with .50 of a common share order warrant (each individual full warrant, a “Warrant”). Just about every Warrant will entitle the holder to acquire one widespread share of the Company (every single, a “Warrant Share”) at an training price of US$2.30 per share at any time prior to the date which is five years pursuing the day of issuance. 

After deducting the placement agent’s fees and other presenting expenses payable by Neovasc, the Organization acquired internet proceeds of close to US$ 65.3 million. Neovasc intends to use the internet proceeds from the Featuring for the enhancement and commercialization of the Neovasc Reducer™ (the “Reducer”), enhancement of the Tiara™ (the “Tiara”) and standard corporate and performing cash functions. 

The prevalent shares, the Warrants, and the Warrant Shares ended up presented pursuant to a shelf registration assertion (together with a prospectus) beforehand filed with the Securities and Trade Fee (the “SEC”) on December 14, 2020 and declared efficient by the SEC on December 16, 2020, and was capable for distribution in every of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario by way of a prospectus health supplement to the Company’s base shelf prospectus dated August 12, 2020, as amended on December 14, 2020. Neovasc available and bought the securities in the United States only. No securities were being made available or bought to Canadian purchasers. 

A prospectus supplement and accompanying prospectus relating to the Offering was filed with the SEC and is out there for totally free on the SEC’s web page at www.sec.gov and is also accessible on the Company’s profile on the SEDAR internet site at www.sedar.com.  Digital copies of the prospectus complement and the accompanying prospectus relating to the Providing may well be acquired by getting in contact with H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, or by telephone: (646) 975-6996 or by e-mail: [email protected].

The Organization relied upon the exemption established forth in Section 602.1 of the TSX Enterprise Manual, which offers that the Toronto Inventory Trade will not apply its standards to particular transactions involving eligible interlisted issuers on a acknowledged trade, this sort of as the Nasdaq Cash Marketplace.

This interaction shall not represent an supply to provide or the solicitation of an provide to acquire nor shall there be any sale of these securities in any jurisdiction in which this sort of supply, solicitation or sale would be unlawful prior to registration or qualification below the securities legal guidelines of any these kinds of jurisdiction.

About Neovasc Inc. 

Neovasc is a specialty healthcare system organization that develops, manufactures and markets products for the quickly developing cardiovascular marketplace. Its merchandise include the Reducer, for the remedy of refractory angina, which is not at the moment commercially available in the United States and has been commercially obtainable in Europe given that 2015, and the Tiara, for the transcatheter remedy of mitral valve illness, which is at this time beneath medical investigation in the United States, Canada and Europe. For a lot more info, check out: www.neovasc.com

Ahead-Hunting Statement Disclaimer

Particular statements in this information release include ahead-wanting statements within just the which means of the U.S. Non-public Securities Litigation Reform Act of 1995 and relevant Canadian securities laws that may possibly not be based mostly on historical truth, together with devoid of limitation statements that contains the phrases “imagine”, “may well”, “approach”, “will”, “estimate”, “continue”, “foresee”, “intend”, “hope” and related expressions. Forward-seeking statements may require, but are not restricted to, remarks with respect to the Offering, the meant use of proceeds of the Presenting and the prepared reliance on the exemption established forth in Section 602.1 of the TSX Company Manual and the increasing cardiovascular market. Numerous factors and assumptions could cause the Company’s real results, efficiency or achievements to differ materially from all those expressed or implied by the ahead-seeking statements, which include, without having limitation, the sizeable doubt about the Company’s ability to continue as a heading issue risks relating to the Firm’s need for considerable further long run funds and the Company’s capability to elevate further funding hazards relating to the sale of a sizeable number of typical shares of the Business pitfalls relating to the risk that the Company’s widespread shares may well be delisted from the Nasdaq or the Toronto Inventory Exchange, which includes Nasdaq’s discretionary general public fascination authority to use additional stringent standards for continued listing or suspend or delist securities, which could have an effect on their sector cost and liquidity dangers relevant to the current coronavirus outbreak or other well being epidemics, which could noticeably influence the Company’s operations, gross sales or skill to increase money threats relating to the Company’s Frequent Share value remaining unstable risks relating to the impact of important shareholders of the Company in excess of the Firm’s business enterprise functions and share cost challenges relating to the Company’s considerable indebtedness, and its effect on the Company’s fiscal problem threats relating to lawsuits that the Company is subject matter to, which could divert the Firm’s resources and end result in the payment of significant damages and other cures hazards relating to statements by third get-togethers alleging infringement of their intellectual residence rights the Company’s means to build, preserve and defend intellectual home rights in the Firm’s products and solutions challenges relating to outcomes from clinical trials of the Firm’s products, which may well be unfavorable or perceived as unfavorable the Firm’s historical past of losses and substantial accrued deficit hazards linked with solution liability promises, insurance policy and remembers pitfalls relating to the Company’s summary that it did not have powerful inside management more than financial reporting as at December 31, 2019 risks relating to use of the Company’s goods in unapproved situation, which could expose the Business to liabilities dangers relating to level of competition in the health care gadget sector, including the possibility that just one or a lot more of the Company’s rivals might produce far more powerful or much more reasonably priced solutions threats relating to the Company’s capacity to accomplish or retain anticipated stages of sector acceptance for the Firm’s items, as well as the Company’s capability to productively make its in-residence sales abilities or secure 3rd-celebration marketing and advertising or distribution partners the Company’s potential to persuade general public payors and hospitals to consist of the Company’s merchandise on their accredited products and solutions lists risks relating to new legislation, new regulatory demands and the attempts of governmental and third-bash payors to incorporate or minimize the expenses of healthcare pitfalls relating to enhanced regulation, enforcement and inspections of individuals in the health care product field, which include regular government investigations into advertising and other company procedures risks involved with the in depth regulation of the Company’s merchandise and trials by governmental authorities, as properly as the value and time delays affiliated therewith pitfalls affiliated with write-up-industry regulation of the Company’s items wellbeing and security risks affiliated with the Firm’s merchandise and sector threats affiliated with the Company’s producing operations, such as the regulation of the Firm’s manufacturing processes by governmental authorities and the availability of two vital factors of the Reducer threat of animal condition related with the use of the Company’s items threats relating to the manufacturing potential of third-occasion brands for the Firm’s merchandise, together with threats of source interruptions impacting the Company’s ability to manufacture its own goods hazards relating to the Firm’s dependence on constrained products and solutions for significantly all of the Company’s recent revenues dangers relating to the Company’s publicity to adverse movements in overseas forex trade rates pitfalls relating to the chance that the Organization could reduce its foreign personal issuer standing less than U.S. federal securities guidelines challenges relating to the probability that the Firm could be treated as a “passive international financial investment company” threats relating to breaches of anti-bribery regulations by the Company’s workers or brokers hazards linked with potential adjustments in financial accounting benchmarks and new accounting pronouncements risks relating to the Firm’s dependence on crucial staff to achieve its enterprise targets the Firm’s skill to sustain powerful relationships with medical professionals threats relating to the sufficiency of the Firm’s administration units and methods in periods of substantial advancement threats associated with consolidation in the overall health treatment market, such as the downward tension on merchandise pricing and the growing need to have to be chosen by greater clients in buy to make income to their associates or individuals dangers relating to the Firm’s potential to effectively identify and total company transactions on favorable phrases or obtain anticipated synergies relating to any acquisitions or alliances challenges relating to conflicts of interests among the Company’s officers and directors as a final result of their involvement with other issuers hazards relating to foreseeable future issuances of equity securities by the Organization, or product sales of the Company’s prevalent shares or conversions of convertible notes by the Company’s current safety holders, causing the price tag of the Company’s securities to slide challenges relating to there currently being no current market via which the Company’s securities, other than the frequent shares, might be marketed challenges linked with the inability to implement steps from the Company, specified directors or officers, or the specialists named in the prospectus relating to the Featuring under U.S. federal securities guidelines threats relating to the broad discretion in the Company’s use of proceeds from the Offering dangers linked to the Company’s intention to not fork out dividends in the foreseeable future and anti-takeover provisions in the Firm’s constating documents which could discourage a 3rd bash from making a takeover bid helpful to the Company’s shareholders. These possibility factors and other individuals relating to the Corporation are reviewed in higher detail in the “Hazard Components” part of the Firm’s Once-a-year Report on Kind 20-F and in the Management’s Dialogue and Examination for the a few and nine months finished September 30, 2020 (copies of which may well be received at www.sedar.com or www.sec.gov). The Enterprise has no intention and undertakes no obligation to update or revise any ahead-searching statements past essential periodic filings with securities regulators, no matter if as a final result of new facts, long run functions or or else, besides as expected by regulation.

Get hold of
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Chris Clark, Main Economic Officer 
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Neovasc Inc.
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604-248-4138
[email protected]


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