Xebec Announces Results of 2018 Annual General Meeting
Xebec Announces Results of 2018 Annual General Meeting
Montreal, Quebec (FSCwire) - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas purification solutions for the industrial, energy and renewables market, announced the results of its Annual General Meeting held on June 14th , 2018 in Montreal, Quebec, Canada.
Election of Directors
All of the nominees listed in the Management Information Circular dated May 11th, 2018 were re-elected by majority vote cast by shareholders present or represented by proxy. Director biographies are available in the Board of Directors’ section of the Company’s website.
Kurt Sorschak
William Beckett
Dr. Prabhu Rao
Joseph H. Petrowski
Guy Saint-Jacques
Other Business
An increase in the pool of stock options of the Corporation was also approved, from 7,892,773 to 8,500,873, representing 20% of 42,504,367 issued and outstanding common shares of the Corporation (the “Common Shares”) as of May 11th, 2018.
In addition, Raymond Chabot Grant Thornton LLP, Chartered Professional Accountants, were re- appointed as auditors for the Company. Xebec’s CEO also provided an update on the business, which can be found at www.xebecinc.com/investor-presentations.php
Xebec provided guidance on its Earnings Per Share (EPS), expected to be in the range of 0.02 to 0.05. In Xebec’s target markets, current market conditions remain favorable, allowing us to maintain our plan for increases in total revenue in 2018. Despite a weak Q1/18, we expect revenue growth for 2018 of 50% to 70% compared to 2017, leading to revenues in the range of CDN$ 22.0 to 25.0 million.
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For more information:
Sandi Murphy, Director, Investor Relations and Communications
Xebec Adsorption Inc.
+1 (450) 979 8718 [email protected]
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.
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.
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Source: Xebec Adsorption Inc (TSX Venture:XBC, OTC Bulletin Board:XEBEF)
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