Neovasc Inc. (NASDAQ: NVCN) (TSX: NVCN) announced today that it has closed its previously announced underwritten public offering of 11,111,111 common shares of the Company at a price to the public of US$0.45 per Common Share, for aggregate gross proceeds to the Company of approximately US$5 million, before deducting the underwriting commission and Offering expenses payable by the Company.

H.C. Wainwright & Co. acted as sole book-running manager for the Offering.

After deducting the underwriting discounts, commissions, and other offering expenses payable by Neovasc, the Company received net proceeds of approximately US$4.25 million. Neovasc intends to use the net proceeds from the Offering for the development and commercialization of the Neovasc Reducer™ development of the Tiara™ and general corporate and working capital purposes.

The Common Shares were offered pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the Securities and Exchange Commission on July 13, 2018 and were qualified for distribution in each of the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario by way of a final prospectus supplement to the Company’s base shelf prospectus dated July 12, 2018. The Underwriter offered and sold the Common Shares in the United States either directly or through its duly registered U.S. broker dealer affiliates or agents. No Common Shares were offered or sold to Canadian purchasers.

A preliminary prospectus supplement and accompanying prospectus relating to the Offering have been filed as have a final prospectus supplement and accompanying prospectus relating to the Offering with the SEC and are available for free on the SEC’s website at www.sec.gov and are also available on the Company’s profile on the SEDAR website at www.sedar.com. Copies of the final prospectus supplement and the accompanying prospectus relating to the Offering may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue 3^rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com.

The Company relied upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the Toronto Stock Exchange will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as the Nasdaq Capital Market.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Neovasc Inc.

Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Reducer, for the treatment of refractory angina, which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and the Tiara, for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States, Canada and Europe.