SOURCE: Methes Energies International Ltd.
LAS VEGAS, NV--(Marketwired - Dec 30, 2013) - Methes Energies International Ltd. (NASDAQ: MEIL), a renewable energy company that offers an array of products and services to biodiesel fuel producers, today announced that on December 26, 2013, it completed a $2.1 million private placement pursuant to Regulation D of the Securities Act of 1933, as amended. In the offering, Methes sold 1.1 million units to select institutional and accredited investors, each unit consisting of one share of common stock and one warrant. Each warrant is exercisable to purchase one share of common stock at $4.00 and expires five years from the date of issuance. Net proceeds from the offering were approximately $1.7 million, after deducting offering expenses and placement agent fees.
ViewTrade Securities, acted as lead placement agent and Newbridge Securities Inc. acted as co-placement agents.
Michel G. Laporte, Chairman & CEO of Methes Energies International Ltd., said, "We are pleased to have finalized this private placement with ViewTrade. Our relationship with ViewTrade began when they acted as co-underwriters in our IPO and have been a good team to work with. This financing allows us to expand our production at Sombra by adding some equipment that will help us save money and be more efficient as well as strengthen our balance sheet. We are now in a better position to execute our plan which is to go to maximum production at Sombra by the end of the first quarter."
About Methes Energies International Ltd.
Methes Energies International Ltd. is a renewable energy company that offers a variety of products and services to biodiesel fuel producers. Methes also offers biodiesel processors that are unique, truly compact, fully automated state-of-the-art and continuous flow that can run on a wide variety of feedstocks. Methes markets and sells biodiesel fuel produced at its showcase production facility in Mississauga, Ontario, Canada and at its 13 MGY facility in Sombra, Ontario, to customers in the U.S. and Canada, as well as providing multiple biodiesel fuel solutions to its clientele. Among its services are selling commodities to its network of biodiesel producers, selling their biodiesel production and providing clients with proprietary software to operate and control their processors. Methes also remotely monitors the quality and characteristics of its clients' production, upgrades and repairs their processors and advises clients on adjusting their processes to use varying feedstock to improve the quality of their biodiesel. For more information, please visit www.methes.com.
About ViewTrade Securities:
ViewTrade Securities was founded in 1998 with the vision of creating a smoother, faster and more efficient straight through trading process (STP). Today we are a full service firm that offers a wide array of brokerage and trading services to meet the needs of our domestic and international clients. ViewTrade's investment banking professionals have decades of experience in corporate finance and focus on servicing companies that are in the small to mid-cap markets in the US and Global Emerging Markets sectors.
Newbridge Financial, Inc. ("NFI") is the parent/holding company for NSC and NFSG. NSC is a FINRA member broker-dealer that engages in full service securities brokerage, investment banking and advisory services with a broad based group of individuals and institutional customer. NFSG is an SEC Registered Investment Advisor offering a broad spectrum of financial services including financial, insurance, retirement, estate and tax planning for our individual and corporate clients. For more information on Newbridge, please visit our public web-site at www.newbridgefinancial.com or www.newbridgesecurities.com
This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as "may," "might," "will," "should," "except," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended November 30, 2012, filed on February 25, 2013, as amended, which is available at the U.S. Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.