TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwire - Feb. 15, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company") is pleased to announce that it has successfully completed a $7.2 million private placement which was oversubscribed from the previously announced $5.5 million. The financing consisted of 14,400,000 Units at a price of C$0.50 per unit. Each unit comprises one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of OPEL at an exercise price of C$0.75 per share until February 14th, 2015. The private placement was conditionally accepted by the TSX Venture Exchange. The securities issued pursuant to the private placement will be subject to a hold period which expires on June 15, 2013.

The Company paid cash commissions of 7% of the funds raised and issued a number of broker warrants equal to 10% of the units raised. Each broker warrant allows the holder to acquire one common share of OPEL at a price of C$0.50 until February 14th, 2016.

At this time, the Board and Management would like to extend special thanks to IBK Capital for another successful financing. IBK has a long-standing history of supporting OPEL and its business. This funding will provide the Company with the capital required to complete a $1.3M equipment acquisition, fund ODIS's internal and third party development efforts, general administrative expenses and working capital. With the capital in place, OPEL is in a position to aggressively continue development work towards its previously announced milestones and its strategy of the monetization of the POET Technology.

The Board recognizes its member, Peter Copetti, Executive Director, who collaborated strongly with IBK to get this financial raise completed in a rapid time frame. Peter's efforts since joining the OPEL Board have been instrumental in OPEL's return to solid financial health.

Finally, Management wishes to thank all our investors for their continued support of the Company. As additional material news arises, OPEL will keep its shareholders informed.

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

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the milestones and the monetization of the POET Technology.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect.

Although OPEL believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in OPEL's securities should not place undue reliance on forward-looking statements because OPEL can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and OPEL assumes no obligation to update or revise this forward-looking information and statements except as required by law.

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