/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION TO THE UNITED
STATES/
MONTREAL, Nov. 30, 2018 /CNW Telbec/ - Xebec
Adsorption Inc. ("Xebec" or the "Company") (TSXV:
XBC) is pleased to announce that, further to its recently completed
short form prospectus offering (the "Offering") of units
(the "Units"), the over-allotment option (the
"Over-Allotment Option") granted to the agents to sell up to
an additional 15% of the number of Units sold pursuant to the
Offering has been exercised in full for additional gross proceeds
of $923,475.
Including those sold pursuant to the Over-Allotment Option, a
total of 9,439,966 Units were issued under the Offering at a price
of $0.75 per Unit for aggregate gross
proceeds of $7,079,974.50. Each Unit
is comprised of one common share of the Company (a "Common
Share") and one half of one common share purchase warrant (each
whole common share purchase warrant, a "Warrant"). Each
Warrant entitles the holder thereof to purchase one Common Share at
a price of $1.05 per Common Share
until May 7, 2020, being a period of
18 months from the closing date of the Offering.
The Offering was conducted by a syndicate of agents led by
Beacon Securities Limited and including Paradigm Capital Inc.
The Company intends to use the net proceeds of the Offering to
fund new project development initiatives in the renewable gas
generation sector, potential merger and acquisition opportunities
involving potential targets in industrial business segments,
research and development, capital equipment and general corporate
purposes.
The Offering was made pursuant to a short form prospectus dated
October 25, 2018, filed with the
securities regulatory authorities in each of the provinces of
Canada, pursuant to National
Instrument 44-101 – Short Form Prospectus Distributions.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in the United States or
in any other jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities have not been registered under
the U.S. Securities Act of 1933, as amended, and applicable U.S.
state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements thereunder.
About Xebec
Xebec Adsorption Inc. is a global provider of gas generation,
purification and filtration solutions for the industrial, energy
and renewables marketplace. Its customers range from small to
multinational corporations and governments looking to reduce their
carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and
manufactures innovative and transformative products, and has more
than 1,500 customers worldwide. With two manufacturing facilities
in Montreal and Shanghai, as well as a sales and distribution
network in North America,
Europe, and Asia, Xebec trades on the TSX Venture Exchange
under the symbol XBC. For additional information on the company,
its products and services, visit Xebec at xebecinc.com.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable Canadian
securities laws, respectively. Statements, other than statements of
historical facts, included herein, including without
limitation, statements regarding the use of proceeds from
the Offering, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "will be taken", "occur" or "be achieved", the
negative of these terms and similar terminology although not all
forward-looking statements contain these terms and phrases.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. These risks and uncertainties
include, but are not limited to, the risk factors set out in
Xebec's annual and/or quarterly management discussion and analysis
and in its other public disclosure documents filed on SEDAR at
www.sedar.com, as well as all assumptions regarding the foregoing.
Although Xebec believes that the assumptions and factors used in
preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frame or at all.
Except where required by applicable law, Xebec disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE Xebec Adsorption Inc.