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Neo Materials Technologies Secure $80 Million Financing

Aug 2 2007

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Neo Material Technologies Inc. is pleased to announce today that it has completed its previously announced public offering of common shares of the Company to a syndicate of underwriters led by GMP Securities L.P. and including Clarus Securities Inc., Cormark Securities Inc., Paradigm Capital Inc. and Raymond James Ltd. The underwriters exercised their over-allotment option prior to closing, resulting in the issuance of an aggregate of 17,600,000 common shares of the Company at a purchase price of $4.60 per common share for aggregate gross proceeds to the Company of $80,600,000. This Company intends to use the proceeds of the offering to repay its subordinated convertible debentures, as previously announced.

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