The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Xebec announces additional proceeds of $1,000,000 pursuant to its intellectual property transaction of March 22, 2012

Wednesday, October 24, 2012

Xebec announces additional proceeds of $1,000,000 pursuant to its intellectual property transaction of March 22, 201207:30 EDT Wednesday, October 24, 2012BLAINVILLE, QC, Oct. 24, 2012 /CNW Telbec/ - Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a provider of biogas upgrading, natural gas, field gas and hydrogen purification solutions for the clean energy and crude-derived fuels displacement markets, announced today that it has received additional proceeds of $1.0 million pursuant to its intellectual property transaction of March 22, 2012. Xebec expects to receive further payments over the next 18 months, upon achievement of certain conditions.The press release to the March 22nd, 2012 transaction can be obtained at the following link:http://www.xebecinc.com/investor-press-releases-details.php?id=216About Xebec Adsorption Inc.Xebec Adsorption Inc. is a global provider of clean energy solutions to corporations and governments looking to reduce their carbon footprints, while enabling the displacement of crude-derived fuels. Xebec's strategy is focused on establishing leadership positions in markets where demand for biogas upgrading, natural gas dehydration, field gas conditioning and hydrogen purification is growing. Headquartered in Montreal (QC), Xebec is a global company with two state-of-the-art manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America and Asia. Xebec trades on the TSX under the symbol XBC. For additional information on the company and its products and services, please visit the Xebec web site at www.xebecinc.com.Caution Concerning Forward-Looking StatementsCertain 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.SOURCE: XEBEC ADSORPTION INC.For further information: Kurt Sorschak President and CEO 450-979-8701 ksorschak@xebecinc.com Eric Favreau Vice-President and CFO 450-979-8706 efavreau@xebecinc.com