GLV Inc.
TSX : GLV.A
TSX : GLV.B

GLV Inc.

June 15, 2009 16:49 ET

GLV Inc. Announces Treasury Offering of Subordinate Voting Shares

MONTREAL, QUEBEC--(Marketwire - June 15, 2009) -

NOT FOR RELEASE OVER US NEWSWIRE SERVICES OR DISSEMINATION IN THE US

GLV Inc. (TSX:GLV.A)(TSX:GLV.B) ("GLV" or the "Company") announced today that it has entered into an agreement with a group of underwriters to sell an aggregate of 4,200,000 Subordinate Voting Shares (the "Shares") of GLV at a price of $7.25 per Share, for gross proceeds of $30,450,000. In addition, the Company has agreed to grant to the underwriters an option (the "Over-Allotment Option") to purchase up to an additional 630,000 Shares at a price of $7.25 per Share, on the same terms and conditions as the offering, exercisable any time, in whole or in part, until the date that is 30 days from the closing date of the offering. If the Over-Allotment Option is exercised in full, the total gross proceeds to GLV will be $35,017,500.

A preliminary short form prospectus will be filed in each of the provinces of Canada on or before June 17, 2009. The offering is expected to close on or about July 2, 2009 and is subject to certain conditions including the receipt of all required regulatory approvals. The underwriting syndicate is being led by RBC Capital Markets.

The Company intends to use the net proceeds of the offering to further its objective of acquiring complimentary services, technologies or businesses and for ongoing operating expenses and general working capital requirements.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act.

This press release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

NOTICE REGARDING FORWARD-LOOKING STATEMENTS

The statements set forth in this press release and other communications to the public that describe management's objectives, projections, estimates, expectations or forecasts may constitute forward-looking statements within the meaning of Canadian securities legislation. Forward looking statements concern analysis and other information based on forecast future results and the estimate of amounts that cannot yet be determined. These may be observations concerning, among others, strategies, expectations, planned activities or actions to come.

Forward-looking statements involve a number of risks and uncertainties such that GLV's actual and future results could differ materially from those indicated. Investors and others are cautioned that undue reliance should not be placed on forward-looking statements. Unless required to do so pursuant to applicable securities legislation, GLV management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.

For additional information about risks, uncertainties and assumptions that could cause GLV Inc.'s actual results to differ from current expectations, please refer to the Company's public filings and, in particular the "Risk Management" section of the Management's Report contained in its most recent Annual Report, and the "Risk Management and Risk Factors" section of the Company's current Annual Information Form. All public filings are available on SEDAR (www.sedar.com) and the Company's website (www.glv.com).

About GLV Inc.

GLV is a leading global provider of technological solutions used in water treatment, recycling and purification, as well as in pulp and paper production. The Water Treatment Group (also known worldwide as "Eimco Water Technologies") specializes in the design and international marketing of solutions and high-performance, economical and eco-friendly processes for the treatment and recycling of municipal and industrial wastewater and water used in various industrial processes. It also offers water intake screening solutions for power stations, refineries and desalination plants. With its extensive technological portfolio, the group is positioned to provide comprehensive solutions for the filtration, clarification, treatment and purification of water that will either be returned into the environment, or be re-used in various industrial processes or for domestic purposes. The Pulp and Paper Group specializes in the design and global marketing of equipment and systems used in various stages of pulp and paper production, notably chemical pulping, pulp preparation and sheet formation and finishing. This group ranks among the foremost players in its industry and is a recognized leader in rebuilding, upgrading and optimization services for existing equipment, as well as the sale of spare parts. It also stands apart for the superior performance of several of its key products and technologies, notably in terms of energy savings. GLV is present in some 30 countries and has approximately 1,600 employees.

Contact Information

  • GLV Inc.
    Marc Barbeau, C.A.
    Executive Vice-President and Chief Financial Officer
    (514) 284-2224
    www.glv.com