Date Closed

January 10, 2012

Lead Office

Québec City

Value

5.00 Million CAD

On January 10, 2012, Innovente Inc. (“Innovente” or the “Corporation”) announced the closing of the second tranche of the Private Placement by issuing 1,000,000 common shares (the "Common Shares") to an institutional investor, at a price of C$0.55 per Common Share, for total gross proceeds of C$550,000. Under the terms of the Private Placement, Innovente, including the amount of the first closing, has issued 9,230,273 Common Shares for total gross proceeds of C$5,076,650. The securities issued pursuant to the second tranche of the Private Placement will be subject to a 4-month and one day restricted period expiring on May 11, 2012.

National Bank Financial acted as agent in the context of the Private Placement. For its services with respect to the closing of the second tranche of the Private Placement, Innovente (i) paid a cash commission of C$38,500, and (ii) issued 70,000 warrants (the "Broker Warrants") to National Bank Financial inc. Each Broker Warrant entitles the holder to acquire one Common Share of Innovente at C$0.85 for a period of 36 months following the closing of the second tranche of the Private Placement. 

Innovente, headquartered in Québec City, Québec, produces renewable energy from organic waste from industrial, agricultural and municipal sources.

McCarthy Tétrault LLP represented National Bank Financial, the agent, with a team led by Anne-Marie Naud.