Neovasc completes first tranche of $1.329 million non-brokered private placement

--Proceeds will be Used to Fund Reducer(TM) COSIRA Multi-Center Clinical Trial-- VANCOUVER, Jan. 28 /PRNewswire-FirstCall/ - Neovasc Inc. (TSXV: NVC) today announced that it has completed the first tranche of a previously announced non-brokered private placement of approximately 7.4 million units at the price of $0.27per unit for aggregate gross proceeds of up to $2.0 million. The proceeds of the offering will be used primarily to fund the COSIRA trial - a multi-center clinical trial intended to demonstrate the safety and efficacy of the company's Reducer(TM) product for treating refractory angina. The completion of the private placement is subject to TSX Venture Exchange approval and the execution of definitive documentation with investors. The securities issued pursuant to the offering will be subject to a four-month hold period from the date of issuance.

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