OPEL Technologies Mails Proxy Material

STORRS, CONNECTICUT and TORONTO, ONTARIO--(Marketwired - May 17, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL" or "the Company") announces that, with respect to the Annual and Special Meeting of shareholders ("AGM") to be held in Storrs, CT on June 21, 2012, the proxy materials are being sent to shareholders shortly using the Notice and Access method. As such, registered shareholders should be receiving a proxy by mail and non-registered shareholder should be receiving a voting instruction form. PDF copies of the Proxy Material, which includes the Notice & Information Circular booklet, will be filed on SEDAR www.sedar.com and will also be available for download from the Company's website at www.opelinc.com/AGM. Shareholders will be able to obtain a printed copy by contacting the Secretary of the Company or Equity Financial Services Inc.

In addition to the usual matters to be presented at the AGM, including the appointment of auditors and election of directors, shareholders will be asked to consider an ordinary resolution to approve the 2013 Stock Option Plan, an ordinary resolution to approve a new By-Law No. 1, and special resolution authorizing, subject to regulatory approval, the change in the name of the Company to "POET Technolgies Inc.". The purpose of the By-Law change is to incorporate the Notice and Access process ("Notice and Access") for delivering shareholder materials recently authorized by the Canadian Securities Administrators (the "CSA") and to provide for an advance notice requirement (the "Advance Notice Policy") for shareholders to nominate directors.

The CSA amendments to authorize Notice and Access were implemented by the CSA to modernize and enhance communication between reporting issuers and their shareholders by allowing greater use of the Internet for delivering proxy-related materials and to increase the efficiencies of the proxy voting process by reducing the volume of documents sent to shareholders. These amendments are not only environmentally friendly by reducing the amount of paper waste, but will result in substantial savings to the Company in printing and mailing costs.

The Advance Notice Policy, which is similar to that currently being established by many other companies, is for the purpose of providing shareholders, directors and management of the Company with a clear framework for nominating directors. The Advance Notice Policy is meant to: (i) facilitate an orderly and efficient process for annual general meetings or, where the need arises, special meetings of shareholders; (ii) ensure all shareholders receive adequate notice of the director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote with respect to director nominations, having been afforded reasonable time for appropriate deliberation.

The purpose of the name change is to better reflect the Company's business and highlight the POET technology. The proposed name change is also consistent with Management's focus on its efforts to monetize the POET technology.

The Directors have approved these proposed changes as they believe they are in the best interests of the shareholders. The Board has also adopted a policy for "Majority Voting" for election of directors, as disclosed in the Information Circular. This Policy does not apply in circumstances involving contested director elections.

Non-registered shareholders wishing to attend the AGM and vote in person, must appoint themselves as proxyholder and submit their voting instruction form at least 48 hours before the Meeting.

Following the AGM, shareholders will, again this year, be provided with the opportunity to tour the ODIS lab facility showcasing the intricacy of the POET breakthrough technology.

If you plan to attend the AGM and wish to stay overnight at the Nathan Hale Inn, please call them directly to make a reservation (tel: 860-427-7888). There are a limited number of rooms being held for OPEL shareholders. Identify yourself as part of the OPEL Group to receive the reduced rate being offered on a first come first serve basis.

About OPEL Technologies Inc.

With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory; and through OPEL Solar, Inc., provided systems for energy applications. The Company has 32 patents issued and 6 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL" and on the OTCQX under the symbol "OPELF". For more information please visit our websites at www.opeltechinc.com and for ODIS at www.odisinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary