MONTREAL--(BUSINESS WIRE)--Sonomax Technologies Inc. (TSX.V:SHH) is pleased to announce that it is organizing a private placement of up to 60,000,000 units at a price of $0.05 per unit, for maximum gross proceeds to Sonomax of $3,000,000.

Each unit will consist of one common share and one-half (½) of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of Sonomax at a price of $0.10 per share for a period of three years following the closing of the private placement.

Sonomax will use the net proceeds from the private placement for commercialization of its products, business development and working capital.

Industrial Alliance Securities Inc. (“IAS”) will act as lead agent for the placement. In connection with the private placement, Sonomax will pay IAS and certain other registered persons a cash commission in an amount equal to 7.5% of the gross proceeds from the sale of units to investors identified by IAS. Sonomax will also issue broker warrants to IAS and certain other registered persons, entitling them to purchase, for a period of 18 months and at a price of $0.10 per share, a number of additional shares equal to 7.5% of the number of units sold to investors identified by them.

The private placement will be effected pursuant to prospectus exemptions under applicable securities legislation and is expected to close on or before May 25, 2012.

The private placement has been conditionally accepted by the TSX Venture Exchange, subject to the filing by Sonomax of standard documentation. The securities issued in the private placement will be subject to a four-month “hold period” under applicable securities legislation and the policies of the TSX Venture Exchange.

There are currently 321,331,244 common shares of Sonomax issued and outstanding.