XEBEC ANNOUNCES ELECTION OF DIRECTORS - GUIDES HIGHER ON EARNINGS -
MONTREAL, (QC), June 19, 2017 - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas generation, purification, and filtration solutions announced today that all of the nominees listed in the Management Information Circular dated May 12, 2017 were elected as Xebec Directors at the Company’s Annual General Meeting held on June 15, 2017 in Montreal, Quebec, Canada. Additionally, Xebec provided updated, improved earnings guidance for fiscal 2017.
Directors were elected by majority vote cast by shareholders present or represented by proxy. Appointed:
Dr. Prabhu Rao
Joseph H. Petrowski
In its press release of May 24, 2017, Xebec provided earnings guidance for fiscal 2017 which was in the range of 0.01 to 0.03 per share. Preliminary financial data for Q2/17 indicates that revenues in Q2/17 and favorable changes in the order mix will lead to a material change in the outlook for earnings in 2017. Consequently, Xebec is now guiding toward higher earnings, expecting in the range of 0.04 to 0.06 per share for fiscal 2017. Xebec anticipates that revenues will be in the range of CDN$ 15 to 18 million for 2017.
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.
Certain statements contained in this press release may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address future events, developments or performance that Xebec expects to occur including management’s expectations regarding Xebec’s results of operations, estimated future earnings, business prospects and opportunities are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, future earnings per share for fiscal year 2017. Although Xebec believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, without limitation: business opportunities that become available to, or are pursued by Xebec; continued availability of capital and financing and general economic, market or business conditions; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, refer to the Corporation's most recent Management's Discussion and Analysis filed on SEDAR. The forward-looking information set forth herein reflects Xebec’s expectations as at the date of this press release and is subject to change after such date. Xebec disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.”
Investor Relation Contact:
Xebec Adsorption Inc.
President and Chief Executive Officer
+1 (450) 979 8701