ProSep Posts Private Placement

ProSep intends to complete a private placement of up to 28,461,538 common shares at a purchase price of $0.13, for a minimum of $2.7 million and up to a maximum of $3.7 million. Gross proceeds from the private placement will be used for working capital purposes.

The private placement is expected to close on or about May 7, 2010. The closing is subject to regulatory and Toronto Stock Exchange approval.

Pursuant to applicable securities legislation, the common shares issued herein will have a restricted "hold” period of four (4) months from the date of closing of the private placement.

This press release shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction. The common shares will not be registered under the securities legislation of any province or territory in Canada or under the United States Securities Act of 1933, as amended, and may not be offered or sold in Canada and in the United States except pursuant to applicable private placement exemptions.


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