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Press Release

XEBEC ANNOUNCES PRIVATE PLACEMENT OF UP TO $1 MILLION IN CONVERTIBLE DEBENTURES

Release date: 02.11.2017

Press Release PDF

MONTREAL, (QC), November 2, 2017 - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas generation, purification, and filtration solutions for the industrial, energy and renewables marketplace, announced today that it intends to carry out a non-brokered private placement (the “Private Placement”) of 8.0% convertible unsecured debentures of the Corporation (the “Debentures”), maturing twenty-four (24) months from the date of closing of the Private Placement (the “Maturity Date”), for aggregate gross proceeds to the Corporation of up to $1 million.

The Corporation shall, at maturity, reimburse the principal amount of the Debentures in cash.

The Debentures may also be converted into Common Shares at any time prior to the Maturity Date, at the request of a holder of Debentures, at a conversion price of $0.65 per Common Share, at the end of each quarter after the closing of the Private Placement.

Interest under the Debentures shall be paid at the end of each quarter after the closing of the Private Placement in cash

The proceeds will be used by Xebec for working capital and general corporate purposes.

The Private Placement is conditional upon the approval of the Exchange.


For more information:
Xebec Adsorption Inc.
Louis Dufour,
Chief Financial Officer,
+1 (450) 979 8738
ldufour@xebecinc.com

About Xebec Adsorption Inc. 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. 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

Neither 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. Certain statements in this press release may constitute "forward-looking" statements within the meaning of applicable securities laws. This forward looking information includes, but is not limited to, the expectations and/or claims of management of Xebec with respect to information regarding the business, operations and financial condition of Xebec. Forward-looking information contained in this press release involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Xebec or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This list is not exhaustive of the factors that may affect forward-looking information contained in this press release. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.