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.
