[SatNews] Norsat International Inc. (“Norsat" or the “Company”) (TSX: NII and OTC BB: NSATF) has issued and received consideration for 611,915 common shares (the “Private Placement”) in connection with its Employee Share Ownership Plan ("ESOP") offering announced January 27th, 2011.

The Private Placement was approximately 61 percent subscribed with participation from employees (including those from Sinclair), senior management and directors. Norsat generated gross proceeds of US$348,792 and issued common shares at the price of US$0.57 or CAD$0.5698. Norsat’s issued and outstanding share capital is now 58,362,532 common shares.