Neovasc Inc (NVCN)

[rrao11]

Neovasc Announces Agreements to Exchange Outstanding Warrants for Shares

NASDAQ, TSX: NVCN

VANCOUVER, March 12, 2019 /CNW/ - Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ: NVCN) (TSX: NVCN) announced today that it has entered into exchange agreements ("Exchange Agreements") with the holders ("Holders") of all of its outstanding Series A common share purchase warrants and Series E common share purchase warrants (collectively, the "Warrants") issued pursuant to the Company's November 2017 underwritten public offering and concurrent private placement (the "2017 Financings"), respectively. Pursuant to the Exchange Agreements, the Company will issue an aggregate of approximately 496,237 common shares of the Company ("Common Shares") for the surrender and cancellation of all of the 58,381,846 Warrants outstanding (the "Exchange") on the basis of 0.0085 of a Common Share for each Warrant. Upon completion of the Exchange, the Company will no longer have any warrants outstanding from the 2017 Financings.

Fred Colen, CEO of Neovasc, commented, "We are delighted to be able to continue our stepwise approach to clearing the remaining elements of the 2017 financings."

The Company is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual for the issuance of Common Shares under the Exchange, which provides that the Toronto Stock Exchange will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the Nasdaq Capital Market.

The Exchange is expected to be completed on or about the week of March 18, 2019, subject to satisfaction of customary closing conditions.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.