Methes Energies International Ltd. Closes Its Initial Public Offering
October 31 2012 - 7:05AM
Business Wire
Methes Energies International Ltd. (NASDAQ: MEILU), a renewable
energy company that offers an array of products and services to a
network of biodiesel fuel producers, today announced the closing of
its initial public offering of 560,000 units at an initial public
offering price of $5.00 per unit. Net proceeds from the offering
were approximately $2.3 million, after deducting the underwriting
discount and estimated offering expenses payable by the
Company.
Paulson Investment Company, Inc., wholly owned subsidiary of
Paulson Capital Corp. (NASDAQ: PLCC), and Barrett & Company
acted as managers of the underwriting.
The Methes units, each consisting of one share of common stock,
one Class A redeemable common stock purchase warrant and one Class
B redeemable common stock purchase warrant, are listed under the
symbol “MEILU” and will trade on the NASDAQ Capital Market until
November 26, 2012. Beginning on November 26, 2012, Methes Energies
International’s common stock, Class A warrants and Class B warrants
will trade separately under the symbols “MEIL,” “MEILW” and
“MEILZ,” respectively. Once separate trading in the common stock
and warrants commences, the units will cease trading and will be
delisted.
A registration statement on Form S-1 relating to this offering
was filed with and declared effective by the Securities and
Exchange Commission. The offering was made only by means of a
written prospectus forming part of the effective registration
statement. Copies of the prospectus related to the offering may be
obtained by calling the syndicate department of Paulson Investment
Company, Inc., at 503-243-6010, or visiting the website at
www.paulsoninvestment.com.
This press release is not an offer to sell these securities and
is not soliciting an offer to buy these securities in any
jurisdiction where the offer or sale is not permitted.
About Paulson Capital Corp.
Paulson Capital Corp. is the parent company of Paulson
Investment Company, Inc. Headquartered in Portland, Oregon, Paulson
Investment Company, Inc. is a national leader in public offerings
of small and emerging growth companies with capital needs of $5
million to $45 million. Founded by Chester “Chet” Paulson in 1970,
it has managed or underwritten 170 securities offerings and has
generated more than $1.2 billion for client companies.
About Methes Energies International Ltd.
Methes Energies International Ltd. is a renewable energy company
that offers a variety of products and services to biodiesel fuel
producers. Methes also offers biodiesel processors that are unique,
truly compact, fully automated state-of-the-art and continuous flow
that can run on a wide variety of feedstocks. Methes markets and
sells biodiesel fuel produced at its showcase production facility
in Mississauga, Ontario, Canada and at its recently commissioned 13
MGY facility in Sombra, Ontario, to customers in the U.S. and
Canada, as well as providing multiple biodiesel fuel solutions to
its clientele. Among its services are selling commodities to its
network of biodiesel producers, selling their biodiesel production
and providing clients with proprietary software to operate and
control their processors. Methes also remotely monitors the quality
and characteristics of its clients' production, upgrades and
repairs their processors and advises clients on adjusting their
processes to use varying feedstock to improve the quality of their
biodiesel. For more information, please visit www.methes.com.
This press release contains forward-looking statements regarding
future events and financial performance. In some cases, you can
identify these statements by words such as “may,” “might,” “will,”
“should,” “except,” “plan,” “intend,” “anticipate,” “believe,”
“estimate,” “predict,” “potential,” or “continue,” the negative of
these terms and other comparable terminology. These statements
involve a number of risks and uncertainties and are based on
numerous assumptions involving judgments with respect to future
economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company’s control.
There are or may be important factors that could cause our actual
results to materially differ from our historical results or from
any future results expressed or implied by such forward looking
statements. These factors include, but are not limited to, those
discussed under the section entitled “Risk Factors” in our
Registration Statement on Form S-1, filed June 22, 2012, as
amended, which is available at the U.S. Securities and Exchange
Commission website at www.sec.gov. The forward-looking statements
in this press release are based upon management's reasonable belief
as of the date hereof. The Company undertakes no obligation to
revise or update publicly any forward-looking statements for any
reason.
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