MONTREAL, Oct. 30 /CNW Telbec/ -- OPMEDIC GROUP Inc. ("OPMEDIC GROUP" or the "Company") (TSX: "OMG"), a healthcare-related company in fertility, laboratories and surgeries providing services and facilities to patients and surgeons, announced today that it has entered into an engagement letter with Laurentian Bank Securities Inc. (the "Underwriter"), pursuant to which the Underwriter has agreed to purchase, on a firm underwritten private placement basis, 1,050,000 common shares of the Company (the "Common Shares") at a price of $2.00 per Common Share for gross proceeds to the Company of $2.1 million (the "Offering"). The net proceeds from the Offering, which the Company estimates will amount to approximately $1.875 million, will be used to supplement OPMEDIC GROUP's financial resources and for general corporate purposes.

The Company will be filing a request for a ruling from Revenue Quebec confirming that the Common Shares to be issued pursuant to the Offering will be qualifying shares for a qualified mutual fund under the Québec Stock Savings Plan II.

OPMEDIC GROUP also announced today that the Underwriter has agreed to purchase, on an underwritten private placement basis, 550,000 Common Shares at a price of $2.00 per Common Share from the three founding doctors of the Company, namely Dr. Pierre St-Michel, President and Chief Executive Officer of the Company, Dr. Marc Villeneuve, a director of the Company, and Dr. Jean-Yves Fontaine, in each case directly or indirectly though their holding companies. The Company will not receive any of the proceeds from the secondary offering. Assuming and giving effect to the transactions contemplated by the Offering and the concurrent secondary offering, the Company will have 17,072,700 Common Shares issued and outstanding, of which Dr. Pierre St-Michel will own, directly and indirectly, 5,049,900 Common Shares representing 29.58% of all issued and outstanding shares, Dr. Marc Villeneuve will own, directly and indirectly, 5,189,350 Common Shares representing 30.40% of all issued and outstanding shares and Dr. Jean-Yves Fontaine will own, directly and indirectly, 1,355,650 Common Shares representing 7.94% of all issued and outstanding shares.

Closing of both the Offering and the concurrent secondary offering is expected to occur on or about November 20, 2009 and is subject to customary closing conditions, including receipt of all applicable regulatory approvals including the approval of the Toronto Stock Exchange.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.