MONTREAL (Quebec), December 22, 2010 – Alphinat Inc. (TSX Venture: NPA) a leader in innovative Software for the Smart Enterprise™, announces that it has completed the closing of the first tranche of a private placement of units for a minimum gross proceeds of $500,000 and a maximum gross proceeds of $1,000,000 at a price of $0.10 per unit, each unit comprised of one common share and one eighth of a common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.12 on or before December 22, 2013. The net proceeds from the private placement will be used to fund the expansion of the sales and marketing team as well as for working capital purposes. The units have been sold to “accredited investors” in the Province of Québec and elsewhere on a prospectus-exempt basis. The second tranche closing is expected to occur no later than January 31, 2011.

The closing of this first tranche results in the issuance of 7,625,000 units at a price of $0.10 for an aggregate gross proceeds to Alphinat of $762,500.

In connection with the private placement, Alphinat will pay to Capital CCFL s.e.n.c. (, an Exempt Market Dealer registered with the Autorité des marchés financiers, a finder’s fee in a maximum amount equal to 6% of the gross proceeds of the private placement raised through CCFL Capital and grant compensation options to Capital CCFL to purchase up to 6% of the common shares issued in connection with the private placement. Each compensation option will entitle its holder to acquire one additional common share of Alphinat at a price of $0.10 on or before December 22, 2015.

In connection with the private placement, one investor had irrevocably agreed to subscribe for a minimum amount of $300,000 and agreed to provide Alphinat with a subscription commitment for an additional maximum amount of $200,000 should the minimum private placement amount of $500,000 not be met by January 31, 2011. In consideration of this subscription commitment, Alphinat has granted the investor 300,000 common share purchase warrants. Each such whole warrant entitles its holder to purchase one additional common share at a price of $0.12 on or before December 22, 2013.

The common shares and warrants issued by Alphinat under the private placement are subject to a four-month hold period expiring on April 23, 2011, in accordance with applicable securities laws. The first closing of the private placement has increased the number of issued and outstanding common shares of Alphinat to 45,078,612. The private placement is subject to final regulatory approval from the TSX Venture Exchange.

About Alphinat

At Alphinat, we are driven by the passion to make application development easy for everyone. It always struck us as odd that the people with the vision of how a finished application should look and behave would only be involved at the start of the process. After all, what better way to ensure a favourable outcome than to provide those closest to an application’s end-users with a vested interest in its success throughout its development?

That’s why we bring you new ways to empower the right people at the right time in the application development process. At the same time, we’re constantly working to reduce the need to code in order to make application development and maintenance simpler and less error-prone.

So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built apps or engage us or one of our partners to do the work for you, we’re here to help you deploy better applications in record time. Visit for more information. We look forward to hearing from you.

Forward-looking statements

Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company’s Annual Report.