Nstein Technologies has concluded a private placement of $1.7 million with a group of investors including members of the board of directors and the Company's management team. The Company has issued 2,923,074 common shares at a price of $0.65 per share. Shares issued are subject to a 4-month hold period from the date of their issuance. Nstein's new president and chief executive officer, Luc Filiatreault, has participated to the placement in the amount of $422,500. Michel Lozeau, chairman of the board of Nstein, has invested $200,000. Richard Drouin and Michel Lavigne, presently directors of the Company, have participated in the amount of $65,000 each. Among the other participating investors are Giraffe Capital Limited Partnership ($250,000), a private investment fund, Viavar Capital ($250,000), a private equity firm chaired by André Courtemanche, candidate to Nstein's Board of Directors, and Pierre Ducros ($50,000), previously Director of the Company. The remaining of the placement ($597,500) has been subscribed by several employees, members of the management team and business people.