Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF)
(“
Xebec”), a global provider of clean energy
solutions is pleased to announce that Xebec Holding USA Inc, a
wholly-owned subsidiary of Xebec Adsorption Inc., has entered into
an agreement and effective December 10th, 2019, to acquire through
a cash purchase all of the outstanding securities of CDA Systems
LLC (“
CDA”). CDA’s principals will remain with CDA
after the acquisition to optimize their integration into Xebec’s
industrial service and grow the business over the coming years.
CDA Systems is a leading distributor and service
provider of Oil-Free Air Compressors, Air Dryers, and Filtration
Systems in California’s San Francisco Bay Area. CDA designs, sells,
rents, and maintains Clean Dry Air systems and, with decades of
industry experience under their belt, have supported major
manufacturers with numerous equipment installations. These
have included value engineered solutions supporting compression,
dehydration, CNG, and other specialty gases, with a goal of
achieving energy cost savings and utility rebates.
This acquisition follows on the recent news that
Xebec has signed a Letter of Intent with Maas Energy Works to
provide four small-scale, containerized biogas upgrading units in
California. These BiostreamTM units will support the production of
renewable natural gas from biogas streams generated from animal
waste on small dairy farms located throughout California.
“The CDA purchase continues Xebec’s strategic
journey to provide local, customer-centric service, support and
operations capabilities for our cleantech and renewable gas
segment. This is a critical component to our value proposition, and
a key advantage to choosing Xebec for biogas upgrading projects. To
be worry-free is important to customers and knowing that
experienced local service and support is available delivers that
peace of mind.”– Kurt Sorschak, President and CEO, Xebec Adsorption
Inc.
Xebec’s industrial service and products segment
has long been a solid contributor to the overall growth and
profitability of the company, generating a significant amount of
recurring revenue through the sale of parts and services. With the
addition of Service Centers throughout North America, Xebec aims to
become the leading renewable gas systems service and support
provider, offering the unique service advantage of local support
for nation-wide biogas to renewable natural gas projects.
Related
links:https://www.xebecinc.com/investor-press-releases-details.php?id=312https://www.xebecinc.comhttp://www.cdasystems.com/
For more information:Brandon
Chow, Investor Relations Specialist, Xebec Adsorption Inc (647)
990-3639 bchow@xebecinc.com
About Xebec Adsorption
Inc.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 multi-national 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. Xebec has 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.
About CDA Systems LLCCDA
Systems is a leading distributor of Oil-Free Air Compressors, Air
Dryers, and Filtration Systems in the California’s San Francisco
Bay Area. They design, sell, rent, and maintain Clean Dry Air
systems as well as Process Vacuum, POU Filtration, and
Instrumentation & Automation related to critical air processes.
The Industry sectors served include Pharmaceutical,
Microelectronics, Refinery, Food & Beverage, R&D and
Manufacturing.
Cautionary StatementNeither 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 release. This
news release contains forward-looking statements and
forward-looking information (together, “forward-looking
statements”) within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements, and subject to risks and uncertainties.
Generally, forward-looking statements can be identified by the use
of terminology such as “plans”, “seeks”, “expects”, “estimates”,
“intends”, “anticipates”, “believes”, “could”, “might”, “likely” or
variations of such words, or statements that certain actions,
events or results “may”, “will”, “could”, “would”, “might”, “will
be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including statements concerning the
expectations of management of Xebec with respect to information
regarding the business, operations and financial condition of Xebec
resulting from CAI’s acquisition and other potential mergers and
acquisitions opportunities involving potential targets in the
industrial business segments, 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.
Forward-looking statements are subject to business and economic
factors and uncertainties, and other factors that could cause
actual results to differ materially from these forward-looking
statements, including the relevant assumptions and risks factors
set out in Xebec's public documents, including in the most recent
annual management discussion and analysis and annual information
form, filed on SEDAR at www.sedar.com. Furthermore, should one or
more of the risks, uncertainties or other factors materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those described in forward-looking statements
or information. These risks, uncertainties and other factors
include, among others, Xebec’s capacity to successfully integrate
CAI in its industrial products segment and to generate revenue
growth as a result of CAI’s acquisition and other factors. 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 times frames 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.
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