Xebec announces results of 2018 annual general meeting
MONTREAL, (QC), July 4th , 2018 - 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.
William Beckett Dr.
Joseph H. Petrowski
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./investors-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.
For more information:
Sandi Murphy, Director, Investor Relations and Communications
Xebec Adsorption Inc. +1 450.979.8718
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.
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