Xebec Adsorption Inc (XBC)

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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.

For more information:
Sandi Murphy, Director, Investor Relations and Communications
Xebec Adsorption Inc.
[phone]
[e-mail]