/NOT FOR RELEASE OVER US NEWSWIRE SERVICES OR DISSEMINATION IN THE US/
MONTREAL, July 2 /CNW Telbec/ - GLV Inc. ("GLV" or the "Corporation") today announced that it has closed its previously announced bought deal public offering (the "Offering") of Class A Subordinate Voting Shares (the "Shares") at $7.25 per share. The underwriters, led by RBC Dominion Securities Inc., elected to exercise their over-allotment option in full for an additional 690,000 Shares resulting in a total of 5,290,000 Shares being issued today by the Corporation for total gross proceeds of $38,352,500.
The Corporation 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 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 are recognized by the use of terms such as "forecast", "project" "could", "plan", "aim", "estimate" and other similar terms, possibly used in the future or conditional, notably in regard to certain assumptions.
GLV Inc.'s management would like to point out that, by their very nature, forward-looking statements involve a number of risks and uncertainties such that GLV Inc.'s actual and future results could differ materially from those indicated. Factors of uncertainty and risk that might result in such differences include trends in the demand for GLV Inc.'s products and cost of its raw materials, fluctuations in the value of various currencies, pressures exerted on prices by the competition, compliance with environmental legislation and general changes in economic conditions. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, GLV Inc.'s 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.
Additional information about the risk factors to which GLV Inc. is exposed is provided in the "Risk Management" section of the Management's Report for the fiscal year ended March 31, 2009, 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.