Xebec Welcomes Mr. Peter Bowie as Advisor to its Board of Directors

Date : 05/11/2020 @ 1:00PM
Source : GlobeNewswire Inc.
Stock : Xebec Adsorption Inc (XBC)
Quote : 4.54  0.15 (3.42%) @ 9:12PM
Xebec Adsorption share price Chart

Xebec Welcomes Mr. Peter Bowie as Advisor to its Board of Directors

Xebec Adsorption (TSXV:XBC)
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Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions is pleased to announce today that Mr. Peter Bowie will be providing strategic, corporate finance and audit advice to its Board of Directors and management. He will also be nominated to the company’s board of directors at this years’ annual general meeting in June.

Mr. Bowie is currently a board member and a member of the Audit Committee of Magna International Inc. He brings financial expertise, a dedication to governance and audit excellence, a strong understanding of strategy and risk, as well as detailed insight of political and economic dynamics within China.

He previously served as the Chief Executive of Deloitte China from 2003 to 2008, as well as senior partner and a member of the Board and the management committee of Deloitte China until his retirement from the firm in 2010. Before that Mr. Bowie was the Chairman of Deloitte Canada (1998‑2000), and a member of the firm’s management committee and a member of the board and governance committees of Deloitte International.

He is a past member of the board of the Asian Corporate Governance Association and has served on a variety of boards in the private and non‑governmental organization sectors.

Mr. Bowie has a B.Comm (St. Mary’s University), as well as an MBA (University of Ottawa) and has received an honorary doctorate (University of Ottawa). In addition, Mr. Bowie completed the Advanced Management Program (Harvard University) and is a Fellow of the Institute of Chartered Accountants of Ontario, as well as the Australian Institute of Corporate Directors.

Quotes:“I’m excited to be joining Xebec’s board of directors as an advisor. It’s a pivotal time for the company and I look forward to lending my expertise to help the company prepare for its next phase of growth. After spending my career in larger organizations, I was impressed with what the team has accomplished to date. It’s an excellent time to get involved and share my experience with Xebec’s forward-thinking management team and dynamic board.” Peter Bowie

“It is with great pleasure that I’d like to welcome Peter Bowie to the Xebec team. As we advance our mission to decarbonize the future with renewable gases, Mr. Bowie’s successful track record in audit and corporate governance will be invaluable to our Board of Directors and management team. His experience with larger organizations such as Deloitte and Magna International will help us build a strong foundation for our growing Cleantech company. We look forward to working with Peter in the future.” Kurt Sorschak, President and CEO, Xebec Adsorption Inc.

Related links:https://www.xebecinc.com https://www.magna.com/company/company-information/leadership-and-governance/board-of-directors/peter-g.-bowie

For more information:Xebec Adsorption Inc. Brandon Chow, Investor Relations Manager bchow@xebecinc.com +1 450.979.8700 ext 5762

About Xebec Adsorption Inc.Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montréal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.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. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and future prospects as well as the expectations of management of Xebec with respect to information regarding the business and the expansion and growth of Xebec operations, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec's public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic, Xebec’s capacity to generate revenue growth, the availability to Xebec of financing and credit alternatives and access to capital, Xebec’s capacity to meet all its other commitments and business plans, Xebec’s limited number of customers, the potential loss of key employees, changes in the use of proceeds relating to the loan, share price volatility, and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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