SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - July 26, 2012) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company") announces that proxy materials were recently mailed to shareholders with respect to the Annual Meeting of shareholders to be held in Storrs, CT on August 21, 2012 and PDF copies of the said material and the Annual Report have been filed on SEDAR ([ www.sedar.com ]).

The Company also wishes to announce that subject to acceptance by the TSX Venture Exchange ("TSXV"), it has extended to August 29, 2012, the $3,000,000 Private Placement financing (the "Financing") which was announced on June 11, 2012 and had been conditionally accepted by the TSXV on June 7, 2012.

The Financing whereby IBK Capital Corp. ("IBK") will act as agent, on a best efforts basis, comprises a private placement offering of up 13,043,478 Units at a price of $0.23 per unit for proceeds of up to $3,000,000. Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of OPEL for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing. The Company will pay a cash commission of 7% of the funds raised and 10% of the units sold in the form of broker warrants. Each broker warrant allows the holder to acquire one common share of OPEL at a price of $0.23 for 48 months after the closing date.

Two tranches totaling $1,200,000 has been completed with the remaining approximately $1,800,000 to be closed before August 29, 2012. The Company anticipates closing a third tranche on or about July 31, 2012.

About OPEL Technologies Inc.

With head office in Toronto, Ontario, Canada, and operations in Shelton, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory; and through OPEL, Inc., provides PV systems for energy applications. The Company has 37 patents issued and 13 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information please visit our websites at [ www.opeltechinc.com ]; for OPEL Solar at [ www.opelsolar.com ]; and for ODIS at [ www.odisinc.com ]

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary