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Neovasc Receives CE Mark Approval for Peripatch(TM) Aegis Staple Line Reinforcement Product
Date:2/4/2009

re five years from the grant date and vest over four years according to the following schedule: 20% vest on the grant date and 20% vest on each of the next four anniversaries of the grant date. The remaining 175,000 options are granted at $0.40, expire after five years and vest immediately. The market price at close of February 2, 2009 was $0.40. The grant of these options is in accordance with the existing stock option plan.

About Neovasc Inc.

Neovasc Inc. (formerly Medical Ventures Corp.), is a new specialty vascular device company that develops, manufactures and markets medical devices for the rapidly growing vascular and surgical marketplace. Neovasc is comprised of the former Medical Ventures, Neovasc Medical Ltd. and B-Balloon Ltd. The company's current products include, Metricath(R) for intravascular measurement and Peripatch(TM) surgical tissue and staple line reinforcement products. Neovasc has a development pipeline of innovative new products, and provides contract medical device development and manufacturing services. For more information, visit: www.neovasc.com.

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company
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