XEBEC ANNOUNCES ISSUANCE OF STOCK OPTIONS
MONTREAL, (QC), December 21st , 2017 - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas generation, purification, and filtration solutions announced today that it has granted 511,000 stock options on December 19th to some directors and an officer of the company as part of their annual remuneration, and in appreciation of their advice and support. Xebec’s financial results have been outstanding year to date, a partial reflection of their service and diligent work on behalf of the company.
The exercise price is at $0.55 (the closing price on December 18, 2017), vesting one third (1/3) each on the first, second, and third anniversary of the issuance. In case of termination, other than for cause, all stock options vest automatically. 400,000 stock options will expire on December 19, 2022 and 111,000 stock options will expire on December 19, 2024.
The stock options were granted in accordance with the terms of the Company's stock option plan which has been approved by the Company's shareholders and the TSX Venture Exchange. Xebec believes that incentives such as stock options more closely align the objectives of employees and directors with shareholders, and are an excellent way to ensure the entire organization remains focused on generating value for all shareholders.
For more information:
Xebec Adsorption Inc.
Marketing & Communication Manager
+1 (450) 979 8718 firstname.lastname@example.org
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. 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.
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.
Investor Relation Contact:
Xebec Adsorption Inc.
President and Chief Executive Officer
+1 (450) 979 8701 email@example.com