Nevoro completes $9.3 million private placement

On August 8, 2008, Nevoro Inc. (TSX: NVR) announced that it had completed the second tranche of its previously announced private placement financing, bringing the total gross proceeds to $9.3 million through the issuance of 26,691,214 Units. Details of the first tranche of the private placement were disclosed on June 12, 2008.

Upon issuance, each Unit immediately separated into one common share of Nevoro and one half of one common share purchase warrant, with each whole warrant enabling the holder to acquire one common share of the Company at an exercise price of $0.50 for a period of two years from the closing of the first tranche of the offering. Nevoro plans to use the net proceeds of the offering for exploration and general corporate purposes.

Thomas Weisel Partners Canada Inc. (as lead agent) and MGI Securities Inc. acted as agents for the offering.

The agents were represented by a team from Fasken Martineau that included Georges Dubé, Bo Crnatovic and Adam Inglis.