/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION TO THE UNITED
STATES/
MONTREAL, Oct. 26, 2018 /CNW/ - Xebec Adsorption Inc.
("Xebec" or the "Company") (TSX.V:XBC) is pleased to
announce that it has priced its previously announced public
offering (the "Offering") of units of the Company (the
"Units"). Pursuant to the Offering, the Company will issue a
minimum of 6,666,666 Units and a maximum of 10,000,000 Units at a
price of $0.75 per Unit for minimum
gross proceeds to the Company of $5,000,000 and maximum gross proceeds to the
Company of $7,500,000. Each Unit will
consist 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 will entitle the holder thereof to purchase one Common
Share, at a price of $1.05 per Common
Share, for a period of 18 months from the Closing Date (as
hereinafter defined) of the Offering.
In addition, the Company is pleased to announce that it has
filed its final short form prospectus with, and obtained receipts
in respect thereof from, the securities regulatory authorities in
each of the Provinces of Canada
(the "Offering Jurisdictions") in connection with the
Offering.
The Offering is scheduled to close on or about November 7, 2018 (the "Closing Date").
The Company has entered into an agency agreement with a
syndicate of agents led by Beacon Securities Limited and including
Paradigm Capital Inc. (collectively, the "Agents"),
pursuant to which the Agents will offer the Units for sale in the
Offering Jurisdictions on a commercially reasonable best efforts
basis. The Company has granted the Agents an over-allotment option
to offer for sale up to an additional 15% of the aggregate number
of Units, Common Shares, Warrants or any combination thereof sold
under, and on the same terms as, the Offering, exercisable, in
whole or in part, at any time up to 30 days following the Closing
Date of the Offering to cover over-allotments, if any, and for
market stabilization purposes.
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 is subject to certain conditions, including, but
not limited to, the receipt of all necessary regulatory approvals,
including the approval of the TSX Venture Exchange.
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, may be 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 Company meeting all conditions
for a timely closing of the Offering, including obtaining all
required approvals, and 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.