ANNUAL INFORMATION FORM – XEBEC ADSORPTION INC. – For ...
ANNUAL INFORMATION FORM – XEBEC ADSORPTION INC. – For ...
ANNUAL INFORMATION FORM – XEBEC ADSORPTION INC. – For ...
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The price ranges and average daily volume of Common Shares traded on the Toronto Stock<br />
Exchange were as follows:<br />
Toronto Stock Exchange (1)<br />
Month High ($) Low ($) Volume<br />
January 2010 1.10 0.86 121,200<br />
February 2010 1.20 .89 387,100<br />
March 2010 1.08 0.87 234,100<br />
April 2010 0.93 0.70 309,500<br />
May 2010 0.85 0.61 407,600<br />
June 2010 0.95 0.64 390,000<br />
July 2010 0.80 0.55 175,200<br />
August 2010 0.71 0.53 216,600<br />
September 2010 0.64 0.45 133,000<br />
October 2010 0.60 0.30 747,500<br />
November 2010 .036 0.23 484,300<br />
December 2010 0.29 0.18 813,500<br />
(1) Data supplied by TSX Datalinx Services, a division of the Toronto Stock Exchange.<br />
9. PRIOR SALES<br />
On November 2, 2010, the Company completed a private placement of units (the “Offering”).<br />
Pursuant to the terms of the Offering, the Company issued a total of 9,491,886 units (“Units”) at<br />
a price of $0.40 per Unit for gross proceeds of $3,796,754. Each Unit consisted of one common<br />
share of the Company and one common share purchase warrant (“Warrant”) which entitle the<br />
holder to acquire one common share at a price of $0.45 until November 1, 2015, subject to an<br />
accelerated expiry if, at any time after December 31, 2010, the published closing trade price of<br />
the common shares on the TSX is equal or superior to $0.75 for any 20 consecutive trading days,<br />
in which event the Company may give the holder written notice that the Warrants will expire at<br />
the close of business day on the thirtieth day from the receipt of such notice.<br />
10. ESCROWED SECURITIES<br />
Pursuant to an escrow agreement dated March 20, 2009, Computershare Trust Company<br />
of Canada, as escrow agent, holds a total of 5,834,249 Common Shares in escrow. These shares<br />
could be released to former Xebec shareholders on the achievement of specified financial targets.<br />
These targets are measured at December 31, 2009 and 2010. Consequently, these shares are<br />
considered restricted share awards that are issued but not outstanding. As those performance<br />
targets were not achieved no expense was recorded and these shares will be cancelled.<br />
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