Azure Dynamic Corporation Completes $10 Million Private Placement

August 13, 2009

Azure Dynamics Corporation (TSX: AZD) completed a private placement offering of 58,823,529 common shares at a price of CDN$0.17 per common share for gross proceeds of approximately CDN$10,000,000. The offering was conducted through a syndicate of agents co-led by Raymond James Ltd. and TD Securities Inc. and including Paradigm Capital Inc. and Stonegate Securities, Incorporated as co-managers.

Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that included Derek Sigel, Sanjeev Patel and Darryl Holyday (corporate/securities).