Xebec Welcomes Mr. Brian Levitt as Advisor to its Board of Directors

MONTREAL, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions is pleased to announce today that Mr. Brian Levitt will be providing strategic, commercial and corporate finance advice to its board of directors and management.

Mr. Levitt is the current Chairman of The Toronto-Dominion Bank (TD) and has been an independent director on TD's Board since December 2008. In addition to being Chairman of TD, he also serves as director of Domtar Corporation and TD Ameritrade Holding Corporation.

He is the former President and Chief Executive Officer of Imasco Limited, during the time one of Canada’s largest consumer goods and services companies.

Furthermore, Mr. Levitt served as Chairman of the Board of Domtar Inc. (predecessor of Domtar Corporation) from 2004 to 2007.

Mr. Levitt is Chair Emeritus of the Montreal Museum of Fine Arts and is Vice-Chair of the Board of the C.D. Howe Institute as well as Chancellor of Bishop’s University. In 2015, Mr. Levitt was appointed an Officer of the Order of Canada.

Lastly, Mr. Levitt holds a law degree from the University of Toronto, where he also completed his Bachelor of Applied Science degree in Civil Engineering.

Quotes:

“I am very excited to be joining the Xebec team and to have the opportunity to help Xebec scale up through its next stages of development. Xebec’s know-how and proprietary technologies relating to renewable natural gas and hydrogen production have demonstrated that they can make a real difference to the ability of gas utilities and energy providers to contribute to the transition to low carbon energy solutions.”

– Brian Levitt

“It is a great pleasure to welcome Brian Levitt as an advisor to our Board. His addition brings significant legal, commercial and financial know-how and experience to Xebec. As the company continues to grow and expand, the need for more experienced and seasoned senior executives and non-executives increases as well. We’re honoured to have Brian join our organization.”

– Kurt Sorschak, Chairman, President and CEO, Xebec Adsorption Inc.

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Xebec Adsorption Inc.

Brandon Chow, Investor Relations Manager



+1 450.979.8700 ext 5762

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 .

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 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, Xebec’s capacity to generate revenue growth, limited number of customers, 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.