H2O Innovation Inc.

publicPublic Group

H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. H2O Innovation is a publicly-traded company listed on Toronto, Alternex and OTCQX...

people4 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200200 2
Add Corporate Feed


H2O Innovation Inc.

publicPublicGroup

H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on ......

people4 Members       (0)

Thumb 8020 monitor 200200 2

8020 Admin

2 hours ago

8020 Admin posted a press release H2O Innovation Announces Completion of the Acquisition of Genesys in H2O INNOVATION INC.


NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. 

All amounts are in Canadian dollars unless otherwise stated.

QUÉBEC CITY, Nov. 15, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to report the completion of the previously announced acquisition, on October 28, 2019, of Genesys Holdings Limited, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a UK privately-owned group of companies specializing in the development and manufacturing of specialty chemicals dedicated to water treatment, at a purchase price of £16.95 M ($28.39 M).


Genesys develops, manufactures and distributes speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides, and offers, through a large distribution network of 70 distributors, a portfolio of over 35 diversified products with unique formulation that are manufactured in its facility located in Cheshire, UK. In addition, Genesys also offers complete laboratory services such as feed water and pre-treatment tests, membrane autopsies and cleaning program design.


This transaction will help strengthen H2O Innovation’s specialty chemicals business line in many ways. First, it will enable the Corporation to build a strong portfolio of products by combining the strengths of both the phosphonate technology and dendrimer chemistry. This extended and diversified product offering should enable H2O Innovation to cover a wider range of applications related to membrane filtration, and thus, improve its specialty chemicals’ sales. Furthermore, the combination of Genesys and PWT sales distribution networks will allow to build one of the largest distribution platforms for specialty chemicals, including 100 distributors active in more than 70 countries. Finally, since PWT is already manufacturing its products in California (USA) while Genesys is blending theirs in Cheshire (UK), the merger of the two companies will allow the Corporation to optimize its manufacturing strategy in order to lower freight costs for our customers and reduce delivery time.


“Through our innovative product line and first-class service, Genesys has become a leading name in the membrane market. All our branded formulations have been developed in-house and are produced at our UK factory in Cheshire. Although Genesys is highly profitable and has grown strongly over the years, we realize that the next stage in growth can only be achieved in combination with a larger organization”, said Ted Darton, President and Co-founder of Genesys.


“Whilst there was a significant level of interest in our business, we chose H2O Innovation as it became apparent, they were the perfect partner and ultimately represented the right home for our business and more importantly our employees. H2O Innovation will maintain the family feel that Genesys has developed by looking after its staff and distributors. As there are significant areas of synergy for both companies, we fully endorse the acquisition knowing it will be highly beneficial to all those involved”, added Ursula Annunziata, Director and Co-founder of Genesys.


The purchase price was established at £16.95 M ($28.39 M), on a cash-free, debt-free basis fully payable at closing of the acquisition. Genesys’ acquisition has been financed through committed credit facility as well as proceeds from an equity offering for gross proceeds of $22 M, including an overnight marketed public offering of subscription receipts for anticipated gross proceeds of $14 M as well as a concurrent brokered private placement of subscription receipts with BDC Capital Inc., Caisse de dépôt et placement du Québec and Investissement Québec for aggregate proceeds of $8 M. The acquisition will also be financed by such amount needed to be drawn on the term loan made available in an amount of $12 M.


Prospective disclosures


Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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. Forward-looking statements include the use of the words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will” and other similar terms as well as those usually used in the future and the conditional. Those forward-looking statements involve a number of risks and uncertainties, which may result in actual and future results of the Corporation to be materially different than those indicated. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 24, 2019 available on SEDAR (www.sedar.com). Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com  


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

23 hours ago

8020 Admin posted a press release IIROC Trading Resumption - HEO in H2O INNOVATION INC.


VANCOUVER, Nov. 14, 2019 /CNW/ - Trading resumes in:


Company: H2O Innovation Inc.


TSX-Venture Symbol: HEO (all issues)


Resumption (ET): 10:45 AM


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/November2019/14/c7377.html

For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly.

!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release H2O Innovation Completes $22 M Equity Offering in H2O INNOVATION INC.


- NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. -

All amounts are in Canadian dollars unless otherwise stated.

QUÉBEC CITY, Nov. 14, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to report the closing of its previously announced equity offering of aggregate amount of $22 M, which combines a $8 M brokered private placement and a $14 M overnight marketed public offering. BDC Capital Inc., Caisse de dépôt et placement du Québec and Investissement Québec, insiders of the Corporation, have subscribed in the brokered private placement.


Under the public offering (the “Public Offering”), the Corporation issued 13,335,000 units (the “Units”) at a price of $1.05 per Units (the “Offering Price”) for aggregate gross proceeds of $14,001,750, exclusive of the Over-Allotment Option described below. Under the brokered private placement, the Corporation issued 7,647,619 Units for aggregate gross proceeds of approximately $8,030,000 under the same terms and conditions as the Units issued under the Public Offering (the “Concurrent Private Placement” and, collectively with the Public Offering, the “Offerings”). The Offerings were conducted by a syndicate of underwriters led by Desjardins Capital Markets and Canaccord Genuity Corp. (the “Co-Lead Underwriters”) and included Acumen Capital Finance Partners Limited, Beacon Securities Limited, Industrial Alliance Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”).


Prior to the closing of the Offerings, the Corporation gave notice to the Co-Lead Underwriters confirming that the closing conditions set forth in the sale and purchase agreement entered into by the Corporation in connection with the acquisition of Genesys Holdings Limited, Genesys International Limited, Genesys Manufacturing Limited and Genesys North America, LLC by a wholly-owned subsidiary of the Corporation (the “Acquisition”) have been satisfied, other than the payment of the purchase price, which will be satisfied with, among others, the proceeds of the Offerings. The closing of the Acquisition is scheduled to occur shortly after the closing of Offerings. Given the delivery of the escrow release condition notice, Units, composed of one (1) common share in the capital of the Corporation (a “Common Share”) and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), were issued directly to the subscribers instead of subscription receipts of the Corporation. Each Warrant shall entitle the holder to purchase an additional Common Share at an exercise price of $1.40 at until November 15, 2021.


The Corporation has granted the Underwriters an option to purchase up to an additional 952,380 Units under the Public Offering at the Offering Price, exercisable in whole or in part at the sole discretion of the Co-Lead Underwriters, at any time up to thirty (30) days after the date hereof (the “Over-Allotment Option”), for additional gross proceeds of up to $ 1.0 M.


In connection with the Offerings, the Corporation paid to the Underwriters an aggregate cash commission of approximately $970,000 and also issued, as additional compensation, 923,796 non-transferable common share purchase warrants (the “Broker Warrants”). The Broker Warrants will be exercisable at a price per Common Share equal to the Offering Price until May 14, 2021.


The securities offered pursuant to the Public Offering were distributed under a short from prospectus of the Corporation dated November 6, 2019, which is available on SEDAR at www.sedar.com. The Warrants will commence trading on the TSX Venture Exchange today under the symbol HEO.WT.


The securities issued and issuable to the Concurrent Private Placement Offering are subject to a statutory resale restriction until March 15, 2020.


Certain insiders of H2O Innovation have participated in the Offerings, which participation constitutes a “related party transaction” as defined under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”) and TSXV Corporate Finance Policy 5.9 – Protection of Minority Security Holders in Special Transactions. The Offerings will be exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders exceeds 25% of the Corporation’s market capitalization. None of the Corporation’s directors has expressed any contrary views or disagreements with respect to the foregoing. The Corporation did not file a material change report 21 days prior to the expected closing date of the Offerings as the details of the participation of the insiders of the Corporation had not been confirmed at that time.


The following insiders have entered into a subscription agreement with the Corporation and the Co-Lead Underwriters for a total of 7,019,048 Units in the Offerings amounting to $7,370,000, as follows:



  • BDC Capital Inc. subscribed for 2,619,048 Units (for an amount of $2,750,000);

  • Caisse de dépôt et placement du Québec subscribed for 2,304,762 Units (for an amount of $2,420,000); and

  • Investissement Québec subscribed for 2,095,238 Units (for an amount of $2,200,000).


Other insiders of the Corporation, including directors or officers of the Corporation, may have participated in the Public Offering.


The securities offered pursuant to the Offerings have not 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 an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


Prospective disclosures


Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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, performance and achievements and the estimate of amounts that cannot yet be determined. Forward-looking statements include the use of words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will”, and other similar expressions, as well as those usually used in the future and the conditional. 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 Corporation to be materially different than those indicated. Factors that could cause or contribute to such differences include, but are not limited to, failure to obtain final TSX Venture Exchange approval of the Public Offering and those risk factors discussed in the Annual Information Form of the Corporation dated September 24, 2019 available on SEDAR (www.sedar.com). Certain of the forward-looking statements included in this press release may be considered “financial outlook” for purposes of applicable Canadian provincial and territorial securities laws. Readers are cautioned that such financial outlook information contained in this press release should not be used for the purposes other than for which it is disclosed herein or therein, as the case may be. Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release IIROC Trading Halt - HEO in H2O INNOVATION INC.


VANCOUVER, Nov. 14, 2019 /CNW/ - The following issues have been halted by IIROC:


Company: H2O Innovation Inc.


TSX-Venture Symbol: HEO (all issues)


Reason: Pending News


Halt Time (ET): 09:24


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/November2019/14/c7797.html



For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly.

!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release H2O Innovation Announces Election of Board of Directors and Appointment of Auditor in H2O INNOVATION INC.


QUEBEC CITY, Nov. 13, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) held this afternoon its Annual General Meeting of Shareholders (the “Meeting”) at its registered office located in Quebec City, Canada.


Shareholders elected or re-elected the following directors to the Corporation’s Board of Directors: Lisa Henthorne, Chairman of the Board of Directors, Richard Hoel, Vice-Chairman of the Board of Directors, Frédéric Dugré, President and Chief Executive Officer, Pierre Côté, René Vachon, Robert Comeau and Stéphane Guérin. Stephen A. Davis left his position on the Board of Directors. Among these seven (7) directors, six (6) are independent.


During the Meeting, shareholders appointed Ernst & Young LLP as auditor of the Corporation for the fiscal year ending June 30, 2020. 


About H2O Innovation 
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and aftermarket services; ii) specialty products, including a complete line of maple product and equipment, specialty chemicals, consumables, specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com 

Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

2 days ago

8020 Admin posted a press release H2O Innovation's 2020 First Quarter Results: Growth Fueled by Acquisition and Specialty Products in H2O INNOVATION INC.

Key financial highlights



  • Revenue growth of 15.8 % over the same period of the previous fiscal year, reaching $28.2 M for the first quarter of fiscal year 2020;



  • Recurring revenues1 represented 80.2 % of the Corporation’s total revenues for the first quarter of fiscal year 2020;



  • Gross profit margin before depreciation and amortization expenses represented 23.8 % of the Corporation’s total revenues for the first quarter of fiscal year 2020, compared to 22.6 % for the first quarter of previous fiscal year;



  • Consolidated backlog, combining Projects and O&M, stood at $153.3 M as of September 30, 2019, compared to $139.9 M for the period ended September 30, 2018;



  • Adjusted EBITDA2 reached $1.6 M, or 5.8 % of revenues, for the first quarter of fiscal year 2020 compared to $1.3 M, or 5.2 % of revenues, for the comparable quarter of previous fiscal year;



  • Net loss amounted to ($1.0 M) for the first quarter of fiscal year 2020, compared to a net loss of ($0.3 M) for the comparable quarter of previous fiscal year;



  • Cash flows from operating activities reached $2.2 M for the first quarter of fiscal year 2020, compared to $0.7 M reached during the comparable quarter of previous fiscal year;



  • Net debt of $8.2 M as at September 30, 2019, from $9.8 M as at June 30, 2019.



All amounts in Canadian dollars unless otherwise stated. 

QUEBEC CITY, Nov. 13, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces its financial results for the first quarter ended September 30, 2019.


“The first quarter of this new fiscal year was impacted positively by the acquisition of Hays completed last fiscal year and by the organic growth of our specialty products sales. In the last couple of quarters, H2O Innovation has been pursuing its growth through strategic acquisitions, enabling greater customers’ retention and more cross-selling between our various business lines. Our focus to grow organically and with acquisitions in the Specialty Products and Operation & Maintenance business pillars has allowed us to increase our recurring revenues at 80% and to improve our gross profit margin simultaneously to 23.8%. Moreover, the acquisition of Genesys, announced earlier in November, should also allow us to further improve our margins and diversify our Specialty Products sales,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=HEO%3ACC&qmodStoryID=8259416699914603 

!
Thumb 8020 monitor 200200 2

8020 Admin

10 days ago

8020 Admin posted a press release H2O Innovation: Utility Partners Renews Three (3) O&M Contracts, totaling $30.1 M in H2O INNOVATION INC.


QUEBEC CITY, Nov. 05, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce Utility Partners, LLC (“UP”), its business line providing operation and maintenance services (“O&M”) in North America, recently renewed three (3) contracts. These contracts, valued at $30.1 M, bring the Corporation’s O&M business backlog to $112.8 M.


Utility Partners has renewed three (3) municipal contracts in the states of Mississippi, Vermont and New Hampshire. The first contract is renewed for an initial period of six (6) years, with three (3) renewal options of two (2) years each. UP has been in a successful partnership with this Mississippi client for over a decade. The second contract was renewed for a 5-year period, and the third, for three (3) additional years.


“Utility Partners is proud to gain these renewals. It shows, once again, the continued belief and trust that our clients and community residents have in our team”, added Bill Douglass, Vice-President of the Operation & Maintenance division of H2O Innovation and Managing Director of Utility Partners.


About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects; ii) specialty products and services, including a complete line of specialty chemicals, consumables, specialized products for the water treatment industry as well as control and monitoring systems; and iii) operation and maintenance services for water and wastewater treatment systems. For more information, visit www.h2oinnovation.com.


About Utility Partners
Utility Partners operates, maintains, and repairs water and wastewater treatment plants, distribution equipment and other water utilities for all of its municipal customers. It currently employs 435 employees for the operation of more than 175 utilities in two (2) Canadian provinces and eleven (11) US states, mainly on the US Gulf coast, Southeast, Northeast (New England) and the West Coast. For more information, visit www.utilitypartnersllc.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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com 

Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

16 days ago

8020 Admin posted a press release H2O Innovation Announces the Release of its Financial Results for the First Quarter of Fiscal Year 2020 and the Date of its Shareholders' Annual General Meeting in H2O INNOVATION INC.


QUEBEC CITY, Oct. 30, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces that it will release its financial results for the first quarter of fiscal year 2020 on Wednesday, November 13, 2019, at approximately 8:00 a.m. (EST). The Corporation will also host a conference call, on the same day, at 10:00 a.m. (EST).


Financial analysts and investors are invited to attend this conference call during which the 2020 first quarter results will be presented. The call will begin with a presentation by management followed by a question-and-answer period. A slide presentation will be available on the Corporate Presentations page of the Investors section of the Corporation’s website.


Time and date: Wednesday, November 13, 2019 at 10:00 a.m. (EST)
Dial in number: 1-877-223-4471 or 647-788-4922


Finally, Lisa Henthorne, Chair of the Board, and Frédéric Dugré, President and Chief Executive Officer, are pleased to invite shareholders and all other interested parties to attend the Annual General Meeting of the Shareholders, which will also be held on November 13, 2019 at 1:00 p.m. (EST) at the Corporation’s headquarters located at 330, rue St-Vallier Est, Suite 340, Quebec City (Quebec), G1K 9C5. During this meeting, they will review the results of fiscal year ended on June 30, 2019 and also comment the results of the first quarter of fiscal year 2020.


About H2O Innovation 
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water & wastewater projects, and aftermarket services; ii) specialty products, including a complete line of specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems. For more information, 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com

Contact:

Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com


 Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

17 days ago

8020 Admin posted a press release H2O Innovation Announces Pricing of Overnight Marketed Financings in H2O INNOVATION INC.


- NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. -

All amounts are in Canadian dollars unless otherwise stated.

QUEBEC CITY, Oct. 29, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce the pricing of its previously announced overnight marketed public offering (the “Public Offering”), whereby it will enter today into an underwriting agreement (the "Underwriting Agreement") with a syndicate of underwriters co-led by Desjardins Capital Markets and Canaccord Genuity Corp. (the “Co-Lead Underwriters”) and including Acumen Capital Finance Partners Limited, Beacon Securities Limited, Industrial Alliance Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”) to sell 13,335,000 subscription receipts of the Corporation (the “Subscription Receipts”) at a price of $1.05 per Subscription Receipt for an aggregate gross proceeds of approximately $14.0 M, exclusive of the Over-Allotment Option described below.


Further, the Corporation is also pleased to confirm the firm commitment of certain institutional shareholders and insiders of the Corporation participating in the equity offering on a brokered private placement basis for an aggregate gross proceeds of approximately $8.0 M under the same terms and conditions as the Subscription Receipts issued under the Public Offering (the “Concurrent Private Placement” and, collectively with the Public Offering, the “Offerings”). The 7,647,619 Subscription Receipts to be issued in the Concurrent Private Placement (and any underlying securities) will be subject to a four (4) month hold from the closing date of the Offerings. No change of control will occur as a result of the Offerings.


The Subscription Receipts shall be exchangeable into units (the “Units”) of the Corporation on a one-for-one basis without additional payment or further action on the part of the holders thereof. Each Unit shall be composed of one (1) common share in the capital of the Corporation (a “Common Share”) and one half of one (0.5) common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase an additional Common Share at an exercise price of $1.40 at any time for a period of 24 months following the closing date.


The Corporation has also granted the Underwriters an option to purchase up to an additional 952,380 Subscription Receipts under the Public Offering at the Offering Price, exercisable in whole or in part at the sole discretion of the Co-Lead Underwriters, at any time up to thirty (30) days after the closing date (the “Over-Allotment Option”), for additional gross proceeds of up to $ 1.0 M.


The Corporation will file today an amended and restated preliminary short form prospectus in each of the provinces of Canada amending and restating the preliminary short form prospectus filed on October 28, 2019 to reflect the terms of the Offerings. There will not be any sale of Subscription Receipts until a receipt for the final short form prospectus has been issued.


Proceeds


The Corporation intends to use the net proceeds of the Offerings to partially finance the purchase price of the previously announced acquisition of Genesys Holdings Limited, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a group of privately-owned companies based in the United Kingdom that develop, manufacture and distribute speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides (the “Acquisition”) and to pay the costs associated with the Acquisition and the Offerings. The Acquisition is expected to close on or about November 12, 2019 upon satisfaction of the customary conditions set out in the sale and purchase agreement entered into on October 28, 2019.


The Acquisition and the costs associated with the Acquisition and the Offerings will also be financed by such amount needed to be drawn on the term loan made available in an amount of $12 million to the wholly-owned UK subsidiary of the Corporation (the “Term Loan”) pursuant to the previously announced amended and restated credit agreement of the Corporation entered into on October 28, 2019 with an arm-length lender. The Term Loan shall be reimbursed by the Corporation by way of quarterly installment on annual amortization of 12.5 % of the principal amount over a period of 3 years. The first instalment shall be due on December 31, 2019.


Conditions to Completion of the Offerings


In the event the closing of the Acquisition occurs concurrently with the closing of the Offerings, the Corporation will issue Units instead of Subscription Receipts.


The issuance of the Subscription Receipts (and underlying Units, underlying Common Shares and underlying Warrants) is subject to customary approvals of applicable securities regulatory authorities, including the TSX Venture Exchange. The Offerings are expected to close on or about November 12, 2019. The Public Offering and the Concurrent Private Placement are conditional upon each other. The Offerings are also conditional upon there being no termination of the Acquisition or announcement of such termination prior to the closing of the Offerings.


United States Offerings


The Subscription Receipts may be placed privately in the United States or to U.S. persons (as defined under Regulation S under the United States Securities Act of 1933, as amended (the “Act”)) only to persons that are Qualified Institutional Buyers under Rule 144A, in transactions exempt from the registration requirements of the U.S. Securities Act, under Rule 144A and under exemptions from registration or qualification under applicable U.S. state securities laws. The securities being offered have not and will not be registered under the Act, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


Prospective disclosures


Certain statements set forth in this press release regarding the Acquisition, the terms of the Offerings, the successful completion of the Acquisition, the successful marketing and completion of the Offerings, the Corporation’s anticipated use of proceeds under the Offerings, the expected timing for closing of the Acquisition, the expected timing for closing of the Offerings, the expected synergies and benefits of the Acquisition and the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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, performance and achievements and the estimate of amounts that cannot yet be determined. Forward-looking statements include the use of words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will”, and other similar expressions, as well as those usually used in the future and the conditional. 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 Corporation to be materially different than those indicated. Factors that could cause or contribute to such differences include, but are not limited to, failure to obtain TSX Venture Exchange approval of the Offering, failure to satisfy the Escrow Release Conditions prior to the Termination Time and those risk factors discussed in the Annual Information Form of the Corporation dated September 24, 2019 available on SEDAR (www.sedar.com). Certain of the forward-looking statements included in this press release may be considered “financial outlook” for purposes of applicable Canadian provincial and territorial securities laws. Readers are cautioned that such financial outlook information contained in this press release should not be used for the purposes other than for which it is disclosed herein or therein, as the case may be. Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com 


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

18 days ago

8020 Admin posted a press release H2O Innovation Expands its Specialty Products Business Pillar and Builds One of the Largest Global Specialty Chemicals Distribution Networks by Acquiring Genesys, and Announces an Equity Offering of Subscription Receipts of at least $22.0 M in H2O INNOVATION INC.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES.

Key Highlights



  • Acquisition of a UK privately-owned group of companies specializing in the development and manufacturing of specialty chemicals dedicated to water treatment;



  • Strengthens H2O Innovation’s specialty chemicals line of products and broadens its range of application;



  • Adds nearly 80 distributors and technical sales professionals in complimentary geographies to build one of the largest specialty chemicals distribution networks worldwide;



  • Complements existing manufacturing capabilities in Vista (California) with chemical blending facility in Cheshire, UK;



  • Acquisition to be financed through committed credit facility as well as proceeds from an equity offering for gross proceeds of at least $22 million, as follows:



    • an overnight marketed public offering of Subscription Receipts for anticipated gross proceeds of at least $14 million



    • a concurrent brokered private placement of Subscription Receipts with certain institutional shareholders of the Corporation for aggregate proceeds of $8 million; and





  • The transaction is expected to be immediately accretive to adjusted EBITDA1 and net earnings before acquisition costs.



All amounts are in Canadian dollars unless otherwise stated.

QUEBEC CITY, Quebec, Oct. 28, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) -- H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces it has entered into a binding sale and purchase agreement (the “Acquisition Agreement”) pursuant to which H2O Innovation, through a wholly-owned UK subsidiary, will acquire, from arm’s-length third parties, Genesys Holdings Limited and its subsidiaries, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a group of privately-owned companies based in the United Kingdom that develop, manufacture and distribute speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides (the “Acquisition”). Genesys offers, through a large distribution network, a portfolio of over thirty-five (35) diversified products with unique formulation that are manufactured in its facility located in Cheshire, UK. In addition, Genesys also offers complete laboratory services such as feed water and pre-treatment tests, membrane autopsies and cleaning program design.


“The combination of Genesys’ product offering with our existing PWT product line will create a leading supplier of specialized chemicals for membrane water treatment plants. Once the acquisition is completed, H2O Innovation will deliver to clients an even broader portfolio of products and solutions through one of the largest distribution networks in the world. The expanded operations and network will also improve our efficiency, when it comes to manufacturing, warehousing and freighting. The reputation of Genesys is proven and solid. Their sales relationships are long lasting and growing and we look forward to welcoming the Genesys partners into the H2O Innovation’s family”, said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Established in 2001, Genesys provides chemicals and services to the membrane industry in almost 70 countries around the world. “Through our innovative product line and first-class service, Genesys has become a leading name in the membrane market. All our branded formulations have been developed in-house and are produced at our UK factory in Cheshire. Although Genesys is highly profitable and has grown strongly over the years, we realize that the next stage in growth can only be achieved in combination with a larger organization. Our team has been aware of H2O Innovation for many years and consider them as the perfect partner. They will maintain the family feel that Genesys has developed by looking after its staff and distributors. As there are significant areas of synergy for both companies, we fully endorse the acquisition knowing it will be highly beneficial to all those involved”, said Ted Darton, President and Chief Executive Officer of Genesys.


Management is expecting the Acquisition to be immediately accretive to adjusted EBITDA and net earnings before acquisition costs, as Genesys’ revenues and profitability are recurring in nature. The Acquisition will also strengthen H2O Innovation’s position as global player in the specialty chemicals industry dedicated to water treatment. Combining Genesys with the Corporation's PWT business line, H2O Innovation's distribution network is expected to reach, following the transaction, one hundred distributors covering both emerging and strategic markets.


The purchase price of the Acquisition was established at £16.95 M ($28.39 M)2 (the “Purchase Price”), on a cash-free, debt-free basis fully-payable at closing of the Acquisition. The Purchase Price is subject to customary working capital adjustments as of the closing date.


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=HEO%3ACA&qmodStoryID=6171769312796715 

!

H2O Innovation Inc.

publicPublic Group

H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. H2O Innovation is a publicly-traded company listed on Toronto, Alternex and OTCQX...

people4 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200200 2
Add Corporate Feed


H2O Innovation Inc.

publicPublicGroup

H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on ......

people4 Members       (0)

Thumb 8020 monitor 200200 2

8020 Admin

2 hours ago

8020 Admin posted a press release H2O Innovation Announces Completion of the Acquisition of Genesys in H2O INNOVATION INC.


NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. 

All amounts are in Canadian dollars unless otherwise stated.

QUÉBEC CITY, Nov. 15, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to report the completion of the previously announced acquisition, on October 28, 2019, of Genesys Holdings Limited, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a UK privately-owned group of companies specializing in the development and manufacturing of specialty chemicals dedicated to water treatment, at a purchase price of £16.95 M ($28.39 M).


Genesys develops, manufactures and distributes speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides, and offers, through a large distribution network of 70 distributors, a portfolio of over 35 diversified products with unique formulation that are manufactured in its facility located in Cheshire, UK. In addition, Genesys also offers complete laboratory services such as feed water and pre-treatment tests, membrane autopsies and cleaning program design.


This transaction will help strengthen H2O Innovation’s specialty chemicals business line in many ways. First, it will enable the Corporation to build a strong portfolio of products by combining the strengths of both the phosphonate technology and dendrimer chemistry. This extended and diversified product offering should enable H2O Innovation to cover a wider range of applications related to membrane filtration, and thus, improve its specialty chemicals’ sales. Furthermore, the combination of Genesys and PWT sales distribution networks will allow to build one of the largest distribution platforms for specialty chemicals, including 100 distributors active in more than 70 countries. Finally, since PWT is already manufacturing its products in California (USA) while Genesys is blending theirs in Cheshire (UK), the merger of the two companies will allow the Corporation to optimize its manufacturing strategy in order to lower freight costs for our customers and reduce delivery time.


“Through our innovative product line and first-class service, Genesys has become a leading name in the membrane market. All our branded formulations have been developed in-house and are produced at our UK factory in Cheshire. Although Genesys is highly profitable and has grown strongly over the years, we realize that the next stage in growth can only be achieved in combination with a larger organization”, said Ted Darton, President and Co-founder of Genesys.


“Whilst there was a significant level of interest in our business, we chose H2O Innovation as it became apparent, they were the perfect partner and ultimately represented the right home for our business and more importantly our employees. H2O Innovation will maintain the family feel that Genesys has developed by looking after its staff and distributors. As there are significant areas of synergy for both companies, we fully endorse the acquisition knowing it will be highly beneficial to all those involved”, added Ursula Annunziata, Director and Co-founder of Genesys.


The purchase price was established at £16.95 M ($28.39 M), on a cash-free, debt-free basis fully payable at closing of the acquisition. Genesys’ acquisition has been financed through committed credit facility as well as proceeds from an equity offering for gross proceeds of $22 M, including an overnight marketed public offering of subscription receipts for anticipated gross proceeds of $14 M as well as a concurrent brokered private placement of subscription receipts with BDC Capital Inc., Caisse de dépôt et placement du Québec and Investissement Québec for aggregate proceeds of $8 M. The acquisition will also be financed by such amount needed to be drawn on the term loan made available in an amount of $12 M.


Prospective disclosures


Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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. Forward-looking statements include the use of the words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will” and other similar terms as well as those usually used in the future and the conditional. Those forward-looking statements involve a number of risks and uncertainties, which may result in actual and future results of the Corporation to be materially different than those indicated. Information about the risk factors to which the Corporation is exposed is provided in the Annual Information Form dated September 24, 2019 available on SEDAR (www.sedar.com). Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com  


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

23 hours ago

8020 Admin posted a press release IIROC Trading Resumption - HEO in H2O INNOVATION INC.


VANCOUVER, Nov. 14, 2019 /CNW/ - Trading resumes in:


Company: H2O Innovation Inc.


TSX-Venture Symbol: HEO (all issues)


Resumption (ET): 10:45 AM


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/November2019/14/c7377.html

For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly.

!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release H2O Innovation Completes $22 M Equity Offering in H2O INNOVATION INC.


- NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. -

All amounts are in Canadian dollars unless otherwise stated.

QUÉBEC CITY, Nov. 14, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to report the closing of its previously announced equity offering of aggregate amount of $22 M, which combines a $8 M brokered private placement and a $14 M overnight marketed public offering. BDC Capital Inc., Caisse de dépôt et placement du Québec and Investissement Québec, insiders of the Corporation, have subscribed in the brokered private placement.


Under the public offering (the “Public Offering”), the Corporation issued 13,335,000 units (the “Units”) at a price of $1.05 per Units (the “Offering Price”) for aggregate gross proceeds of $14,001,750, exclusive of the Over-Allotment Option described below. Under the brokered private placement, the Corporation issued 7,647,619 Units for aggregate gross proceeds of approximately $8,030,000 under the same terms and conditions as the Units issued under the Public Offering (the “Concurrent Private Placement” and, collectively with the Public Offering, the “Offerings”). The Offerings were conducted by a syndicate of underwriters led by Desjardins Capital Markets and Canaccord Genuity Corp. (the “Co-Lead Underwriters”) and included Acumen Capital Finance Partners Limited, Beacon Securities Limited, Industrial Alliance Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”).


Prior to the closing of the Offerings, the Corporation gave notice to the Co-Lead Underwriters confirming that the closing conditions set forth in the sale and purchase agreement entered into by the Corporation in connection with the acquisition of Genesys Holdings Limited, Genesys International Limited, Genesys Manufacturing Limited and Genesys North America, LLC by a wholly-owned subsidiary of the Corporation (the “Acquisition”) have been satisfied, other than the payment of the purchase price, which will be satisfied with, among others, the proceeds of the Offerings. The closing of the Acquisition is scheduled to occur shortly after the closing of Offerings. Given the delivery of the escrow release condition notice, Units, composed of one (1) common share in the capital of the Corporation (a “Common Share”) and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), were issued directly to the subscribers instead of subscription receipts of the Corporation. Each Warrant shall entitle the holder to purchase an additional Common Share at an exercise price of $1.40 at until November 15, 2021.


The Corporation has granted the Underwriters an option to purchase up to an additional 952,380 Units under the Public Offering at the Offering Price, exercisable in whole or in part at the sole discretion of the Co-Lead Underwriters, at any time up to thirty (30) days after the date hereof (the “Over-Allotment Option”), for additional gross proceeds of up to $ 1.0 M.


In connection with the Offerings, the Corporation paid to the Underwriters an aggregate cash commission of approximately $970,000 and also issued, as additional compensation, 923,796 non-transferable common share purchase warrants (the “Broker Warrants”). The Broker Warrants will be exercisable at a price per Common Share equal to the Offering Price until May 14, 2021.


The securities offered pursuant to the Public Offering were distributed under a short from prospectus of the Corporation dated November 6, 2019, which is available on SEDAR at www.sedar.com. The Warrants will commence trading on the TSX Venture Exchange today under the symbol HEO.WT.


The securities issued and issuable to the Concurrent Private Placement Offering are subject to a statutory resale restriction until March 15, 2020.


Certain insiders of H2O Innovation have participated in the Offerings, which participation constitutes a “related party transaction” as defined under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”) and TSXV Corporate Finance Policy 5.9 – Protection of Minority Security Holders in Special Transactions. The Offerings will be exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders exceeds 25% of the Corporation’s market capitalization. None of the Corporation’s directors has expressed any contrary views or disagreements with respect to the foregoing. The Corporation did not file a material change report 21 days prior to the expected closing date of the Offerings as the details of the participation of the insiders of the Corporation had not been confirmed at that time.


The following insiders have entered into a subscription agreement with the Corporation and the Co-Lead Underwriters for a total of 7,019,048 Units in the Offerings amounting to $7,370,000, as follows:



  • BDC Capital Inc. subscribed for 2,619,048 Units (for an amount of $2,750,000);

  • Caisse de dépôt et placement du Québec subscribed for 2,304,762 Units (for an amount of $2,420,000); and

  • Investissement Québec subscribed for 2,095,238 Units (for an amount of $2,200,000).


Other insiders of the Corporation, including directors or officers of the Corporation, may have participated in the Public Offering.


The securities offered pursuant to the Offerings have not 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 an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


Prospective disclosures


Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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, performance and achievements and the estimate of amounts that cannot yet be determined. Forward-looking statements include the use of words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will”, and other similar expressions, as well as those usually used in the future and the conditional. 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 Corporation to be materially different than those indicated. Factors that could cause or contribute to such differences include, but are not limited to, failure to obtain final TSX Venture Exchange approval of the Public Offering and those risk factors discussed in the Annual Information Form of the Corporation dated September 24, 2019 available on SEDAR (www.sedar.com). Certain of the forward-looking statements included in this press release may be considered “financial outlook” for purposes of applicable Canadian provincial and territorial securities laws. Readers are cautioned that such financial outlook information contained in this press release should not be used for the purposes other than for which it is disclosed herein or therein, as the case may be. Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release IIROC Trading Halt - HEO in H2O INNOVATION INC.


VANCOUVER, Nov. 14, 2019 /CNW/ - The following issues have been halted by IIROC:


Company: H2O Innovation Inc.


TSX-Venture Symbol: HEO (all issues)


Reason: Pending News


Halt Time (ET): 09:24


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/November2019/14/c7797.html



For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly.

!
Thumb 8020 monitor 200200 2

8020 Admin

1 day ago

8020 Admin posted a press release H2O Innovation Announces Election of Board of Directors and Appointment of Auditor in H2O INNOVATION INC.


QUEBEC CITY, Nov. 13, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) held this afternoon its Annual General Meeting of Shareholders (the “Meeting”) at its registered office located in Quebec City, Canada.


Shareholders elected or re-elected the following directors to the Corporation’s Board of Directors: Lisa Henthorne, Chairman of the Board of Directors, Richard Hoel, Vice-Chairman of the Board of Directors, Frédéric Dugré, President and Chief Executive Officer, Pierre Côté, René Vachon, Robert Comeau and Stéphane Guérin. Stephen A. Davis left his position on the Board of Directors. Among these seven (7) directors, six (6) are independent.


During the Meeting, shareholders appointed Ernst & Young LLP as auditor of the Corporation for the fiscal year ending June 30, 2020. 


About H2O Innovation 
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and aftermarket services; ii) specialty products, including a complete line of maple product and equipment, specialty chemicals, consumables, specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com 

Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

2 days ago

8020 Admin posted a press release H2O Innovation's 2020 First Quarter Results: Growth Fueled by Acquisition and Specialty Products in H2O INNOVATION INC.

Key financial highlights



  • Revenue growth of 15.8 % over the same period of the previous fiscal year, reaching $28.2 M for the first quarter of fiscal year 2020;



  • Recurring revenues1 represented 80.2 % of the Corporation’s total revenues for the first quarter of fiscal year 2020;



  • Gross profit margin before depreciation and amortization expenses represented 23.8 % of the Corporation’s total revenues for the first quarter of fiscal year 2020, compared to 22.6 % for the first quarter of previous fiscal year;



  • Consolidated backlog, combining Projects and O&M, stood at $153.3 M as of September 30, 2019, compared to $139.9 M for the period ended September 30, 2018;



  • Adjusted EBITDA2 reached $1.6 M, or 5.8 % of revenues, for the first quarter of fiscal year 2020 compared to $1.3 M, or 5.2 % of revenues, for the comparable quarter of previous fiscal year;



  • Net loss amounted to ($1.0 M) for the first quarter of fiscal year 2020, compared to a net loss of ($0.3 M) for the comparable quarter of previous fiscal year;



  • Cash flows from operating activities reached $2.2 M for the first quarter of fiscal year 2020, compared to $0.7 M reached during the comparable quarter of previous fiscal year;



  • Net debt of $8.2 M as at September 30, 2019, from $9.8 M as at June 30, 2019.



All amounts in Canadian dollars unless otherwise stated. 

QUEBEC CITY, Nov. 13, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces its financial results for the first quarter ended September 30, 2019.


“The first quarter of this new fiscal year was impacted positively by the acquisition of Hays completed last fiscal year and by the organic growth of our specialty products sales. In the last couple of quarters, H2O Innovation has been pursuing its growth through strategic acquisitions, enabling greater customers’ retention and more cross-selling between our various business lines. Our focus to grow organically and with acquisitions in the Specialty Products and Operation & Maintenance business pillars has allowed us to increase our recurring revenues at 80% and to improve our gross profit margin simultaneously to 23.8%. Moreover, the acquisition of Genesys, announced earlier in November, should also allow us to further improve our margins and diversify our Specialty Products sales,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=HEO%3ACC&qmodStoryID=8259416699914603 

!
Thumb 8020 monitor 200200 2

8020 Admin

10 days ago

8020 Admin posted a press release H2O Innovation: Utility Partners Renews Three (3) O&M Contracts, totaling $30.1 M in H2O INNOVATION INC.


QUEBEC CITY, Nov. 05, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce Utility Partners, LLC (“UP”), its business line providing operation and maintenance services (“O&M”) in North America, recently renewed three (3) contracts. These contracts, valued at $30.1 M, bring the Corporation’s O&M business backlog to $112.8 M.


Utility Partners has renewed three (3) municipal contracts in the states of Mississippi, Vermont and New Hampshire. The first contract is renewed for an initial period of six (6) years, with three (3) renewal options of two (2) years each. UP has been in a successful partnership with this Mississippi client for over a decade. The second contract was renewed for a 5-year period, and the third, for three (3) additional years.


“Utility Partners is proud to gain these renewals. It shows, once again, the continued belief and trust that our clients and community residents have in our team”, added Bill Douglass, Vice-President of the Operation & Maintenance division of H2O Innovation and Managing Director of Utility Partners.


About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects; ii) specialty products and services, including a complete line of specialty chemicals, consumables, specialized products for the water treatment industry as well as control and monitoring systems; and iii) operation and maintenance services for water and wastewater treatment systems. For more information, visit www.h2oinnovation.com.


About Utility Partners
Utility Partners operates, maintains, and repairs water and wastewater treatment plants, distribution equipment and other water utilities for all of its municipal customers. It currently employs 435 employees for the operation of more than 175 utilities in two (2) Canadian provinces and eleven (11) US states, mainly on the US Gulf coast, Southeast, Northeast (New England) and the West Coast. For more information, visit www.utilitypartnersllc.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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com 

Contact:
Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

16 days ago

8020 Admin posted a press release H2O Innovation Announces the Release of its Financial Results for the First Quarter of Fiscal Year 2020 and the Date of its Shareholders' Annual General Meeting in H2O INNOVATION INC.


QUEBEC CITY, Oct. 30, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces that it will release its financial results for the first quarter of fiscal year 2020 on Wednesday, November 13, 2019, at approximately 8:00 a.m. (EST). The Corporation will also host a conference call, on the same day, at 10:00 a.m. (EST).


Financial analysts and investors are invited to attend this conference call during which the 2020 first quarter results will be presented. The call will begin with a presentation by management followed by a question-and-answer period. A slide presentation will be available on the Corporate Presentations page of the Investors section of the Corporation’s website.


Time and date: Wednesday, November 13, 2019 at 10:00 a.m. (EST)
Dial in number: 1-877-223-4471 or 647-788-4922


Finally, Lisa Henthorne, Chair of the Board, and Frédéric Dugré, President and Chief Executive Officer, are pleased to invite shareholders and all other interested parties to attend the Annual General Meeting of the Shareholders, which will also be held on November 13, 2019 at 1:00 p.m. (EST) at the Corporation’s headquarters located at 330, rue St-Vallier Est, Suite 340, Quebec City (Quebec), G1K 9C5. During this meeting, they will review the results of fiscal year ended on June 30, 2019 and also comment the results of the first quarter of fiscal year 2020.


About H2O Innovation 
H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water & wastewater projects, and aftermarket services; ii) specialty products, including a complete line of specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems. For more information, 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 NYSE Euronext Growth Paris accepts responsibility for the adequacy or accuracy of this release.


Source:
H2O Innovation Inc.  
www.h2oinnovation.com

Contact:

Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com


 Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

17 days ago

8020 Admin posted a press release H2O Innovation Announces Pricing of Overnight Marketed Financings in H2O INNOVATION INC.


- NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES. -

All amounts are in Canadian dollars unless otherwise stated.

QUEBEC CITY, Oct. 29, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce the pricing of its previously announced overnight marketed public offering (the “Public Offering”), whereby it will enter today into an underwriting agreement (the "Underwriting Agreement") with a syndicate of underwriters co-led by Desjardins Capital Markets and Canaccord Genuity Corp. (the “Co-Lead Underwriters”) and including Acumen Capital Finance Partners Limited, Beacon Securities Limited, Industrial Alliance Securities Inc. and Haywood Securities Inc. (collectively, the “Underwriters”) to sell 13,335,000 subscription receipts of the Corporation (the “Subscription Receipts”) at a price of $1.05 per Subscription Receipt for an aggregate gross proceeds of approximately $14.0 M, exclusive of the Over-Allotment Option described below.


Further, the Corporation is also pleased to confirm the firm commitment of certain institutional shareholders and insiders of the Corporation participating in the equity offering on a brokered private placement basis for an aggregate gross proceeds of approximately $8.0 M under the same terms and conditions as the Subscription Receipts issued under the Public Offering (the “Concurrent Private Placement” and, collectively with the Public Offering, the “Offerings”). The 7,647,619 Subscription Receipts to be issued in the Concurrent Private Placement (and any underlying securities) will be subject to a four (4) month hold from the closing date of the Offerings. No change of control will occur as a result of the Offerings.


The Subscription Receipts shall be exchangeable into units (the “Units”) of the Corporation on a one-for-one basis without additional payment or further action on the part of the holders thereof. Each Unit shall be composed of one (1) common share in the capital of the Corporation (a “Common Share”) and one half of one (0.5) common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase an additional Common Share at an exercise price of $1.40 at any time for a period of 24 months following the closing date.


The Corporation has also granted the Underwriters an option to purchase up to an additional 952,380 Subscription Receipts under the Public Offering at the Offering Price, exercisable in whole or in part at the sole discretion of the Co-Lead Underwriters, at any time up to thirty (30) days after the closing date (the “Over-Allotment Option”), for additional gross proceeds of up to $ 1.0 M.


The Corporation will file today an amended and restated preliminary short form prospectus in each of the provinces of Canada amending and restating the preliminary short form prospectus filed on October 28, 2019 to reflect the terms of the Offerings. There will not be any sale of Subscription Receipts until a receipt for the final short form prospectus has been issued.


Proceeds


The Corporation intends to use the net proceeds of the Offerings to partially finance the purchase price of the previously announced acquisition of Genesys Holdings Limited, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a group of privately-owned companies based in the United Kingdom that develop, manufacture and distribute speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides (the “Acquisition”) and to pay the costs associated with the Acquisition and the Offerings. The Acquisition is expected to close on or about November 12, 2019 upon satisfaction of the customary conditions set out in the sale and purchase agreement entered into on October 28, 2019.


The Acquisition and the costs associated with the Acquisition and the Offerings will also be financed by such amount needed to be drawn on the term loan made available in an amount of $12 million to the wholly-owned UK subsidiary of the Corporation (the “Term Loan”) pursuant to the previously announced amended and restated credit agreement of the Corporation entered into on October 28, 2019 with an arm-length lender. The Term Loan shall be reimbursed by the Corporation by way of quarterly installment on annual amortization of 12.5 % of the principal amount over a period of 3 years. The first instalment shall be due on December 31, 2019.


Conditions to Completion of the Offerings


In the event the closing of the Acquisition occurs concurrently with the closing of the Offerings, the Corporation will issue Units instead of Subscription Receipts.


The issuance of the Subscription Receipts (and underlying Units, underlying Common Shares and underlying Warrants) is subject to customary approvals of applicable securities regulatory authorities, including the TSX Venture Exchange. The Offerings are expected to close on or about November 12, 2019. The Public Offering and the Concurrent Private Placement are conditional upon each other. The Offerings are also conditional upon there being no termination of the Acquisition or announcement of such termination prior to the closing of the Offerings.


United States Offerings


The Subscription Receipts may be placed privately in the United States or to U.S. persons (as defined under Regulation S under the United States Securities Act of 1933, as amended (the “Act”)) only to persons that are Qualified Institutional Buyers under Rule 144A, in transactions exempt from the registration requirements of the U.S. Securities Act, under Rule 144A and under exemptions from registration or qualification under applicable U.S. state securities laws. The securities being offered have not and will not be registered under the Act, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


Prospective disclosures


Certain statements set forth in this press release regarding the Acquisition, the terms of the Offerings, the successful completion of the Acquisition, the successful marketing and completion of the Offerings, the Corporation’s anticipated use of proceeds under the Offerings, the expected timing for closing of the Acquisition, the expected timing for closing of the Offerings, the expected synergies and benefits of the Acquisition and the operations and the activities of H2O Innovation as well as other communications by the Corporation to the public that describe more generally management 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, performance and achievements and the estimate of amounts that cannot yet be determined. Forward-looking statements include the use of words such as “anticipate”, “if”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should” or “will”, and other similar expressions, as well as those usually used in the future and the conditional. 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 Corporation to be materially different than those indicated. Factors that could cause or contribute to such differences include, but are not limited to, failure to obtain TSX Venture Exchange approval of the Offering, failure to satisfy the Escrow Release Conditions prior to the Termination Time and those risk factors discussed in the Annual Information Form of the Corporation dated September 24, 2019 available on SEDAR (www.sedar.com). Certain of the forward-looking statements included in this press release may be considered “financial outlook” for purposes of applicable Canadian provincial and territorial securities laws. Readers are cautioned that such financial outlook information contained in this press release should not be used for the purposes other than for which it is disclosed herein or therein, as the case may be. Unless required to do so pursuant to applicable securities legislation, H2O Innovation assumes no obligation to update or revise forward-looking statements contained in this press release or in other communications as a result of new information, future events and other changes.


About H2O Innovation


H2O Innovation designs and provides state-of-the-art, custom-built and integrated water treatment solutions based on membrane filtration technology for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water and wastewater projects and services; ii) specialty products, which include a complete line of maple equipment and products, specialty chemicals, consumables and specialized products for the water treatment industry; and iii) operation and maintenance services for water and wastewater treatment systems and utilities. For more information, visit www.h2oinnovation.com.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source:


H2O Innovation Inc.
www.h2oinnovation.com 


Contact:


Marc Blanchet
+1 418-688-0170
marc.blanchet@h2oinnovation.com 


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

18 days ago

8020 Admin posted a press release H2O Innovation Expands its Specialty Products Business Pillar and Builds One of the Largest Global Specialty Chemicals Distribution Networks by Acquiring Genesys, and Announces an Equity Offering of Subscription Receipts of at least $22.0 M in H2O INNOVATION INC.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES.

Key Highlights



  • Acquisition of a UK privately-owned group of companies specializing in the development and manufacturing of specialty chemicals dedicated to water treatment;



  • Strengthens H2O Innovation’s specialty chemicals line of products and broadens its range of application;



  • Adds nearly 80 distributors and technical sales professionals in complimentary geographies to build one of the largest specialty chemicals distribution networks worldwide;



  • Complements existing manufacturing capabilities in Vista (California) with chemical blending facility in Cheshire, UK;



  • Acquisition to be financed through committed credit facility as well as proceeds from an equity offering for gross proceeds of at least $22 million, as follows:



    • an overnight marketed public offering of Subscription Receipts for anticipated gross proceeds of at least $14 million



    • a concurrent brokered private placement of Subscription Receipts with certain institutional shareholders of the Corporation for aggregate proceeds of $8 million; and





  • The transaction is expected to be immediately accretive to adjusted EBITDA1 and net earnings before acquisition costs.



All amounts are in Canadian dollars unless otherwise stated.

QUEBEC CITY, Quebec, Oct. 28, 2019 (GLOBE NEWSWIRE) -- (TSXV: HEO) -- H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces it has entered into a binding sale and purchase agreement (the “Acquisition Agreement”) pursuant to which H2O Innovation, through a wholly-owned UK subsidiary, will acquire, from arm’s-length third parties, Genesys Holdings Limited and its subsidiaries, Genesys Manufacturing Limited, Genesys International Limited and Genesys North America, LLC (collectively “Genesys”), a group of privately-owned companies based in the United Kingdom that develop, manufacture and distribute speciality reverse osmosis (RO) membrane chemicals, antiscalants, cleaners, flocculants and biocides (the “Acquisition”). Genesys offers, through a large distribution network, a portfolio of over thirty-five (35) diversified products with unique formulation that are manufactured in its facility located in Cheshire, UK. In addition, Genesys also offers complete laboratory services such as feed water and pre-treatment tests, membrane autopsies and cleaning program design.


“The combination of Genesys’ product offering with our existing PWT product line will create a leading supplier of specialized chemicals for membrane water treatment plants. Once the acquisition is completed, H2O Innovation will deliver to clients an even broader portfolio of products and solutions through one of the largest distribution networks in the world. The expanded operations and network will also improve our efficiency, when it comes to manufacturing, warehousing and freighting. The reputation of Genesys is proven and solid. Their sales relationships are long lasting and growing and we look forward to welcoming the Genesys partners into the H2O Innovation’s family”, said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Established in 2001, Genesys provides chemicals and services to the membrane industry in almost 70 countries around the world. “Through our innovative product line and first-class service, Genesys has become a leading name in the membrane market. All our branded formulations have been developed in-house and are produced at our UK factory in Cheshire. Although Genesys is highly profitable and has grown strongly over the years, we realize that the next stage in growth can only be achieved in combination with a larger organization. Our team has been aware of H2O Innovation for many years and consider them as the perfect partner. They will maintain the family feel that Genesys has developed by looking after its staff and distributors. As there are significant areas of synergy for both companies, we fully endorse the acquisition knowing it will be highly beneficial to all those involved”, said Ted Darton, President and Chief Executive Officer of Genesys.


Management is expecting the Acquisition to be immediately accretive to adjusted EBITDA and net earnings before acquisition costs, as Genesys’ revenues and profitability are recurring in nature. The Acquisition will also strengthen H2O Innovation’s position as global player in the specialty chemicals industry dedicated to water treatment. Combining Genesys with the Corporation's PWT business line, H2O Innovation's distribution network is expected to reach, following the transaction, one hundred distributors covering both emerging and strategic markets.


The purchase price of the Acquisition was established at £16.95 M ($28.39 M)2 (the “Purchase Price”), on a cash-free, debt-free basis fully-payable at closing of the Acquisition. The Purchase Price is subject to customary working capital adjustments as of the closing date.


Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=HEO%3ACA&qmodStoryID=6171769312796715 

!