DECLARATION OF CHRIS CLARK - including partial bond info

1. CLARK. DECL. -1- Case No. 1:14-cv-12405-ADB
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF MASSACHUSETTS
CARDIAQ VALVE TECHNOLOGIES, INC.,
Plaintiff,
v.
NEOVASC INC. and NEOVASC TIARA INC.,
Defendants.
Civil Action No. 1:14-cv-12405-ADB
DECLARATION OF CHRIS CLARK IN SUPPORT OF
DEFENDANTS NEOVASC INC.’S AND NEOVASC TIARA INC.’S
RESPONSE REGARDING SECURITY AND OPPOSITION TO REQUEST FOR TRO
I, Chris Clark, declare:
1. I am the Chief Financial Officer of Defendant Neovasc Inc., and I am a Director of
Defendant Neovasc Tiara Inc. (together “Neovasc”). I make this declaration from personal
knowledge and, if called as a witness, I could and would testify competently to the matters set forth
herein.
2. Neovasc’s Condensed Interim Consolidated Financial Statements (Unaudited) For
The Three And Nine Months Ended September 30, 2016 And 2015 are attached as Exhibit A.
Neovasc’s Management’s Discussion and Analysis For The Three And Nine Months Ended
September 30, 2016 And 2015 are attached as Exhibit B.
3. On December 1, 2016, Neovasc entered into an agreement with Boston Scientific
Corporation pursuant to which it will receive $75 million (all figures USD) upon closing. Under
the terms of the agreement, Boston Scientific will acquire Neovasc’s tissue processing technology
and facility and a 15% equity interest in Neovasc, Inc. The agreement with Boston Scientific is
attached as Exhibit C to this declaration.
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2. CLARK. DECL. -2- Case No. 1:14-cv-12405-ADB
4. For the purposes of forecasting its finances, Neovasc assumes that the appeal in this
matter and any subsequent proceedings will last anywhere from 12 to 18 months. Neovasc has
budgeted for the next 18 months.
5.
6.
7.
8.
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3. CLARK. DECL. -3- Case No. 1:14-cv-12405-ADB
9.
10.
11.
12.
13.
14.
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4. CLARK. DECL. -4- Case No. 1:14-cv-12405-ADB
15.
16.
***
17.
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5. CLARK. DECL. -5- Case No. 1:14-cv-12405-ADB
18.
19. Thus, contingent on the deal with Boston Scientific closing, Neovasc offers $40.6
million as a partial supersedeas bond pending appeal.
20.
21.
22.
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6. Case 1:14-cv-12405-ADB Document 644 Filed 12/06/16 Page 6 of 7

7. CLARK. DECL. -7- Case No. 1:14-cv-12405-ADB
CERTIFICATE OF SERVICE
I hereby certify that this document filed through the ECF system will be sent electronically to
the registered participants as identified on the Notice of Electronic Filing (NEF) and paper copies
will be sent via mail to those indicated as non-registered participants on December 6, 2016.
/s/ Charles T. Graves
Charles T. Graves
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