TSX-V: HEO
Alternext: MNEMO: ALHEO
OTCQX: HEOFF
QUEBEC CITY, Sept. 29, 2014 /CNW Telbec/ - (TSXV: HEO) (OTCQX: HEOFF) – H2O Innovation Inc. ("H2O Innovation" or the "Company") announces that, as of today, its Common shares began trading, under the ticker symbol "HEOFF", on the OTCQX marketplace in the United States, a marketplace operated by OTC Markets Group for established U.S. and international companies. The Company will continue to trade on the TSX Venture Exchange under its existing symbol "HEO" and on Euronext/Alternext (France) under "ALHEO". U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
"We are confident that trading in the United States on OTCQX is an important milestone in our growth strategy and shall increase significantly our visibility with the U.S. investor community. The United States represents an important part of our business activities since a great portion of our employees are based over there and work in our major manufacturing and engineering premises located in Minnesota and California. In addition, a significant part of our sales backlog as well as existing customers are also located throughout the United States. These factors add to the relevancy to trade our Common shares on OTCQX", stated Frédéric Dugré, President and CEO of H2O Innovation.
Roth Capital Partners LLC will serve as H2O innovation's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Share consolidation
The Company also announces that a proposition to consolidate its Common shares will be included in the Management Proxy Circular of the Company for consideration and approval by its shareholders at the next Annual and Special Meeting of Shareholders to be held on November 11, 2014.
"H2O Innovation is not a start-up company anymore, since our growth has reached a certain level of maturity. Thus, as we are expecting growth in revenues and profitability in the coming years, we believe it is important to position the Company on the right market at the right price", added Frédéric Dugré.
H2O Innovation currently has 104,632,977 issued and outstanding common shares and proposes to consolidate its common shares on the basis of one (1) post-consolidated Common share for every five (5) pre-consolidation Common shares on the effective date of the consolidation.
Following a share consolidation on a five for one basis, the Company would have approximately 20,926,595 issued and outstanding Common shares. The change in the number of issued and outstanding Common shares that would result from the share consolidation would not materially affect any shareholder's percentage ownership in the Company, although such ownership would be represented by a smaller number of Common shares.
The proposed share consolidation is subject to the approval of the shareholders of H2O Innovation, by special resolution, and to the approval of the TSX Venture Exchange. Additional details on the proposed share consolidation will be outlined in the Management Proxy Circular that will be filed on SEDAR (www.sedar.com).
Information to be available through S&P Capital IQ Corporation Records Program
H2O Innovation's information would be made available via S&P Capital IQ Corporation Records Listing Program. As part of such program, a full description of H2O Innovation will be published in the Daily News Section of Standard & Poors' Corporation Records, a recognized securities manual for secondary trading in up to thirty-eight (38) states under the Blue Sky Laws. S&P Capital IQ Corporation Records is available in print, CD-ROM, and via the website www.netadvantage.standardandpoors.com, as well as through numerous electronic vendors.
The information about H2O Innovation to be made available through this program includes an in-depth description of the H2O Innovation's business operations, share price, dividend history, shares outstanding, company financial position, earnings, and full statements of income and financial position.
Forward-looking statements
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance and achievements of the Company to be materially different than the said forward-looking statements. Information about the risk factors to which the Company is exposed is provided in the Annual Information Form dated September 22, 2014 available on SEDAR (www.sedar.com).
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology to municipal, energy & natural resources end-users. Also, directly and through its affiliates, H2O Innovation provides services and products complementary to its membrane filtration and reverse osmosis systems. These products consist of a complete line of specialty chemicals and consumables and a complete line of couplings. For more, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
www.h2oinnovation.com
SOURCE H2O Innovation Inc.
