Xebec Adsorption Inc. ("
Xebec" or the
"
Corporation") (TSXV:XBC) is pleased to announce
it has closed its previously announced bought deal offering,
including the exercise in full of the Underwriters' over-allotment
option. A total of 10,952,600 common shares of Xebec (the
"
Common Shares") were sold at a price of $2.10 per
Common Share for aggregate gross proceeds of $23,000,460 (the
"
Offering"). The Offering was conducted by a
syndicate of underwriters led by Desjardins Capital Markets and
including Beacon Securities Ltd., Canaccord Genuity Corp., TD
Securities Inc., Paradigm Capital Inc. and Raymond James Ltd.
(together, the "
Underwriters"). The net proceeds
of the Offering will be used to, among other things and as more
fully described in the short form prospectus relating to the
Offering, develop and invest in new renewable gas projects, to
pursue strategic growth initiatives and for general corporate
purposes.
In connection with the Offering, the Corporation
paid the Underwriters a cash commission equal to 6% of the gross
proceeds of the Offering, and compensation options (the
"Compensation Options") equal to 6% of the Common
Shares issued pursuant to the Offering. Each Compensation Option
will entitle the Underwriters to purchase a Common Share at an
exercise price of $2.10 for a period of 12 months from the closing
date of the Offering.
The Common Shares were offered by way of short
form prospectus in all of the provinces of Canada. Copies of the
final short form prospectus and documents incorporated therein may
be obtained by sending a written request to the Secretary of the
Corporation at 730, Industriel Blvd., Blainville, Quebec, Canada,
J7C 3V4, telephone: (450) 979-8700, and are available
electronically under the Corporation's issuer profile on SEDAR at
www.sedar.com.
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.
For more information:
Xebec Adsorption Inc.Brandon Chow, Manager,
Investor Relations+1 450.979.8700 ext 5762 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
Corporation, its products and services, visit Xebec at
xebecinc.com.
Cautionary Statement Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accept
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
intended use of proceeds from the Offering, future capital
expenditures, revenues, expenses, earnings, economic performance,
indebtedness, financial condition, losses and future prospects as
well as the expectations of management of Xebec with respect to
information regarding the business and the expansion and growth of
Xebec operations, 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,
the uncertain and unpredictable condition of the global economy,
Xebec's capacity to generate revenue growth, a limited number of
customers, 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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