SAN ANTONIO, TEXAS--(Marketwired - March 24, 2017) -
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XPEL Technologies Corp. (TSX VENTURE:DAP.U) is pleased to announce that further to its press releases dated January 23, 2017, February 10, 2017 and February 27, 2017, it has successfully completed the second tranche of its previously announced non-brokered private placement (the "Offering").
Under the second and final tranche of the Offering, the Corporation issued 168,465 Common Shares at a price of $1.43 per share for gross proceeds of $240,904.95. All of the Common Shares issued will be subject to a statutory hold period of four months plus one day from the date of completion of the offering, in accordance with applicable securities legislation.
Net proceeds of the Offering will be used for future acquisitions, capital expenditures and general corporate purposes.
For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR website at www.sedar.com.
About XPEL Technologies Corp.
XPEL is the leading supplier of automotive paint, headlamp and window protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Using XPEL's propriety software and patented materials, our professional design team develops products that deliver the ultimate in vehicle protection, meeting the demands of a broad range of makes and models. XPEL is the developer of the Design Access Program software, and manufacturer of XPEL™ Automotive Paint and Headlamp Protection Products. XPEL has forged the cutting-edge of automotive protection technology, and leads the industry in quality, technical support and customer service. Additional information can be found on XPEL's website at www.xpel.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on management's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the use of net proceeds of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to XPEL. The material facts and assumptions include intended use of proceeds remaining in the best interests of XPEL. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this Press Release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this News Release.