Neovasc to Raise $2 Million in Non-Brokered Private Placement

--Proceeds Will Advance Key New Products Including Completing CE Mark
Application for the Reducer(TM) Stent--

VANCOUVER, March 30 /PRNewswire-FirstCall/ - Neovasc Inc. (TSXV: NVC) today
announced that it intends to undertake a non-brokered private placement of
approximately 9.52 million units at the price of $0.21 per unit for aggregate
gross proceeds of $2.0 million. The proceeds of the offering will be used for
continued development of a suite of new products and to help fund continuing
operations. The completion of the private placement is subject to TSX Venture
Exchange approval and the execution of definitive documentation with
investors. The securities issued pursuant to the offering will be subject to a
four-month hold period from the date of issuance. The private placement is led
by members of the Frost Group, LLC.
Each unit consists of one common share of Neovasc stock and one-half of one
common share purchase warrant of Neovasc stock. Each whole warrant will
entitle the holder thereof to purchase one common share of Neovasc stock at
the exercise price of $0.30 per share for a period of one year after the
closing date of the offering. All of the proceeds will be placed with company
insiders.
"This financing provides us with additional operating flexibility to advance
the products that we expect to be key growth drivers for Neovasc, especially
our innovative Reducer(TM) stent for the treatment of refractory angina," said
Alexei Marko, chief executive officer of Neovasc. "We are pleased at the
confidence in Neovasc evidenced by the participation of insiders in this
financing, which strengthens our ability to execute on the focused strategy we
implemented late last year."

About Neovasc Inc.

Neovasc Inc. is a new specialty vascular device company that develops,
manufactures and markets medical devices for the rapidly growing vascular and
surgical marketplace. 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.

About Frost Group, LLC

The Frost Group, LLC, is a private investment firm based in Miami. The Frost
Group is led by Dr. Phillip Frost, and includes Jane Hsiao, Ph.D., Rao
Uppaluri, Ph.D., and Steven D. Rubin, a team that has been together in various
capacities for over 22 years. Since its formation in October 2006, the Frost
Group has invested over $140 million in various companies and technologies in
the United States and abroad. These investments include stakes in the areas of
pharmaceuticals, diagnostic devices, medical devices, developmental education
and entertainment for children, telecommunications, sports licensing, aviation
services, software for seismic data analysis, and new materials for computer
chips.

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 operates; history of losses
and lack of and uncertainty of revenues, ability to obtain required financing,
receipt of regulatory approval of product candidates, ability to properly
integrate newly acquired businesses, technology changes; competition; changes
in business strategy or development plans; the ability to attract and retain
qualified personnel; existing governmental regulations and changes in, or the
failure to comply with, governmental regulations; liability and other claims
asserted against the Company; and other factors referenced in the Company's
filings with Canadian securities regulators. Although the Company believes
that expectations conveyed by the forward-looking statements are reasonable
based on the information available to it on the date such statements were
made, no assurances can be given as to the future results, approvals or
achievements. Given these uncertainties, readers are cautioned not to place
undue reliance on such forward-looking statements. The Company does not assume
the obligation to update any forward-looking statements except as otherwise
required by applicable law.

SOURCE Neovasc Inc.

Corporate contact: Neovasc Inc., Chris Clark, (604) 248-4138; U.S. media &
investor contact: GendeLLindheim BioCom Partners, Barbara Lindheim, (212)
918-4650