TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwire - Jan. 21, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL") has announced a financing with IBK Capital Corp. ("IBK"), whereby IBK will act as agent on a best efforts basis, to conduct a private placement offering of up to 11,000,000 Units at a price of C$0.50 per unit for proceeds of up to C$5,500,000. 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 two years at an exercise price of C$0.75 per share. The private placement is conditionally upon acceptance by the TSX Venture Exchange. 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 raise is expected to be closed on or before February 5, 2013. The Company will pay a cash commission of 7% of the funds raised and 10% of the units raised in the form of broker warrants. Each broker warrant allows the holder to acquire one common share of OPEL at a price of C$0.50 for 36 months after the closing date.

The Board launches the private placement at this time in order to secure the remaining capital required to procure $1.3M of capital equipment, fund ODIS's internal and third party development efforts leading to the completion of the milestones which will enable OPEL to achieve its strategy of the monetization of the POET Technology.

The Company also announced today the grant of an additional incentive stock option under its stock option plan, to an officer of the Company, to purchase up to an aggregate of 50,000 common shares. The stock option is exercisable at a price of CA$0.53 per share expiring January 17, 2018. The options will vest and be exercisable on the basis of 100% on January 17, 2014. There are currently 17,652,750 options outstanding and 117,257,900 shares outstanding.

About OPEL Technologies Inc. and ODIS Inc.

With head office in Toronto, Ontario, Canada, and operations in Storrs, 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 Solar, Inc., provided systems for energy applications. The Company has 34 patents issued and 6 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 ] and for ODIS at [ www.odisinc.com ].

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

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