H2O Innovation Inc.

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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...

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H2O Innovation Inc.

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

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8020 Admin

28 minutes ago

8020 Admin posted a press release H2O Innovation Executes its Business Plan: Delivering Sustained Financial Improvement and Making a Strategic Acquisition in H2O INNOVATION INC.

Key Financial Highlights



  • Successful completion of the acquisition of 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;



  • Revenue growth of 13.5 % over the same period of the previous fiscal year, reaching $33.3 M for the second quarter of fiscal year 2020;



  • Gross profit margin before depreciation and amortization expenses represented 24.8 % of the Corporation’s total revenues for the second quarter of fiscal year 2020, compared to 21.3 % for the second quarter of previous fiscal year;



  • Adjusted EBITDA1 reached $2.3 M, or 6.9 % of revenues, for the second quarter of fiscal year 2020 compared to $1.4 M, or 4.7 % of revenues, for the comparable quarter of previous fiscal year;



  • Net loss amounted to ($0.9 M) for the second quarter of fiscal year 2020, compared to a net loss of ($1.2 M) for the comparable quarter of previous fiscal year;



  • Net debt1 of $18.0 M as at December 31, 2019, from $9.8 M as at June 30, 2019.



All amounts in Canadian dollars unless otherwise stated.

QUEBEC CITY, Feb. 12, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces its financial results for the second quarter of fiscal year 2020 ended December 31, 2019.


“We keep executing our business plan focused on growing predominantly our specialty products offering and O&M service footprint. Through our unique business model, we are promoting high customer retention, thus high recurring sales allowing us to significantly de-risk the business. These efforts, on a twelve-month period, have resulted in revenue growth of 13.5 % while the adjusted EBITDA has increased by 68.0% over the same period. On a last twelve months basis, we have clearly shown the scalability of our business model as our revenues have increased by 19.8 %, punctuated by the acquisitions of Hays and Genesys. During the same last twelve months basis, the adjusted EBITDA has progressed significantly from $4.8 M to $8.5 M, showing an improvement of 76.5 %. Our strategy is working and our customers benefit today from a more complete and diversified offering of products and services allowing them to grow their business as a distributor or to benefit from an integrated and accountable customer care,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=HEO%3ACA&qmodStoryID=6286790234652647 

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8020 Admin

14 days ago

8020 Admin posted a press release H2O Innovation announces the release of its financial results for the second quarter of fiscal year 2020 in H2O INNOVATION INC.


QUEBEC CITY, Jan. 29, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces that it will release its financial results for the second quarter of fiscal year 2020 on Wednesday, February 12, 2020, 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 second 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, February 12, 2020 at 10:00 a.m. (EST)
Dial in number: 1-877-223-4471 or 647-788-4922


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


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8020 Admin

15 days ago

8020 Admin posted a press release H2O Innovation Named to 2020 OTCQX® Best 50 in H2O INNOVATION INC.

QUEBEC CITY, Jan. 28, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO, OTCQX: HEOFF) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce it has been named to the 2020 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.


The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2020 OTCQX Best 50 were ranked based on their performance in 2019. 


“The whole team is delighted with this mention! Our priority in the coming quarters will be to improve H2O Innovation’s liquidity on securities. We plan to put more effort into our investor relations campaigns to raise awareness of H2O Innovation in North America as well as internationally. We also want to demonstrate that the Corporation is stronger and more diversified than ever, thanks to the latest transactions which have solidified our unique business model”, stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


For the complete 2020 OTCQX Best 50 ranking, visit https://www.otcmarkets.com/files/2020_OTCQX_Best_50.pdf.


The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.


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


A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60ddc599-93b8-4da6-ac84-bde7a8d1ad4a


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2020 OTCQX® Best 50



2020 OTCQX® Best 50



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8020 Admin

1 month ago

8020 Admin posted a press release H2O Innovation: Piedmont Secures New FRP and Coupling Orders Totalling $3.5 M, Including The Largest Sea Water Reverse Osmosis Desalination Plant in H2O INNOVATION INC.


QUEBEC CITY, Jan. 09, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce its independent subsidiary, Piedmont, a global leader in corrosion resistant equipment for desalination plants in the industrial and municipal markets, secured several fiber reinforced polyester (FRP) cartridge filter housings and couplings orders, totalling $3.5 M.


Piedmont secured a purchase order for the FRP filter housing scope for what will be the largest sea water reverse osmosis (SWRO) desalination plant in the World. Located in the Middle East, it will treat up to 900,000 m3/day. “We couldn’t be prouder to have won this incredible project. This will certainly help us to win other major projects while growing our backlog and strengthening our reference list,” stated Ties Venema, Managing Director of Piedmont.


For that same business line, Piedmont has also been awarded other major projects. In Tunisia more specifically, for the second time in a row, the team will be providing FRP filter housings for two (2) medium sized (50,000 m3/day) SWRO desalination plants. The team will also deliver, in a couple of months, an important project in Saudi Arabi, that will include four (4) FRP units, treating a total of 24,480 m3/day. Moreover, Piedmont was recently added to the approved vendor list by the Egyptian army.  This will allow them to bid on the upcoming large-scale desalination plants and will provide good growth opportunities in this booming region.


Furthermore, Piedmont won several other projects, for both coupling and FRP business lines, in North America, Latin America, Europe, the Middle East, North Africa, India and Singapore during the last five (5) months. “Our current order book is higher than it has ever been in the company, which gives us confidence with respect to a significant growth of the Piedmont business when compared to our last fiscal year,” added Ties Venema.


About Piedmont
Piedmont is a global leader in corrosion resistant equipment for desalination plants and meets critical customer demand for a wide range of applications in the industrial and municipal markets. For more information, visit www.piedmontpacific.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 for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water & wastewater projects, and 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 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 


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8020 Admin

3 months 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  


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8020 Admin

3 months 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.

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8020 Admin

3 months 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 


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8020 Admin

3 months 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.

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8020 Admin

3 months 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 


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8020 Admin

3 months 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 

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H2O Innovation Inc.

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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...

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8020 Admin

28 minutes ago

8020 Admin posted a press release H2O Innovation Executes its Business Plan: Delivering Sustained Financial Improvement and Making a Strategic Acquisition in H2O INNOVATION INC.

Key Financial Highlights



  • Successful completion of the acquisition of 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;



  • Revenue growth of 13.5 % over the same period of the previous fiscal year, reaching $33.3 M for the second quarter of fiscal year 2020;



  • Gross profit margin before depreciation and amortization expenses represented 24.8 % of the Corporation’s total revenues for the second quarter of fiscal year 2020, compared to 21.3 % for the second quarter of previous fiscal year;



  • Adjusted EBITDA1 reached $2.3 M, or 6.9 % of revenues, for the second quarter of fiscal year 2020 compared to $1.4 M, or 4.7 % of revenues, for the comparable quarter of previous fiscal year;



  • Net loss amounted to ($0.9 M) for the second quarter of fiscal year 2020, compared to a net loss of ($1.2 M) for the comparable quarter of previous fiscal year;



  • Net debt1 of $18.0 M as at December 31, 2019, from $9.8 M as at June 30, 2019.



All amounts in Canadian dollars unless otherwise stated.

QUEBEC CITY, Feb. 12, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces its financial results for the second quarter of fiscal year 2020 ended December 31, 2019.


“We keep executing our business plan focused on growing predominantly our specialty products offering and O&M service footprint. Through our unique business model, we are promoting high customer retention, thus high recurring sales allowing us to significantly de-risk the business. These efforts, on a twelve-month period, have resulted in revenue growth of 13.5 % while the adjusted EBITDA has increased by 68.0% over the same period. On a last twelve months basis, we have clearly shown the scalability of our business model as our revenues have increased by 19.8 %, punctuated by the acquisitions of Hays and Genesys. During the same last twelve months basis, the adjusted EBITDA has progressed significantly from $4.8 M to $8.5 M, showing an improvement of 76.5 %. Our strategy is working and our customers benefit today from a more complete and diversified offering of products and services allowing them to grow their business as a distributor or to benefit from an integrated and accountable customer care,” stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=HEO%3ACA&qmodStoryID=6286790234652647 

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8020 Admin

14 days ago

8020 Admin posted a press release H2O Innovation announces the release of its financial results for the second quarter of fiscal year 2020 in H2O INNOVATION INC.


QUEBEC CITY, Jan. 29, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) announces that it will release its financial results for the second quarter of fiscal year 2020 on Wednesday, February 12, 2020, 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 second 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, February 12, 2020 at 10:00 a.m. (EST)
Dial in number: 1-877-223-4471 or 647-788-4922


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


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8020 Admin

15 days ago

8020 Admin posted a press release H2O Innovation Named to 2020 OTCQX® Best 50 in H2O INNOVATION INC.

QUEBEC CITY, Jan. 28, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO, OTCQX: HEOFF) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is pleased to announce it has been named to the 2020 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.


The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2020 OTCQX Best 50 were ranked based on their performance in 2019. 


“The whole team is delighted with this mention! Our priority in the coming quarters will be to improve H2O Innovation’s liquidity on securities. We plan to put more effort into our investor relations campaigns to raise awareness of H2O Innovation in North America as well as internationally. We also want to demonstrate that the Corporation is stronger and more diversified than ever, thanks to the latest transactions which have solidified our unique business model”, stated Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.


For the complete 2020 OTCQX Best 50 ranking, visit https://www.otcmarkets.com/files/2020_OTCQX_Best_50.pdf.


The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.


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


A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60ddc599-93b8-4da6-ac84-bde7a8d1ad4a


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2020 OTCQX® Best 50



2020 OTCQX® Best 50



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8020 Admin

1 month ago

8020 Admin posted a press release H2O Innovation: Piedmont Secures New FRP and Coupling Orders Totalling $3.5 M, Including The Largest Sea Water Reverse Osmosis Desalination Plant in H2O INNOVATION INC.


QUEBEC CITY, Jan. 09, 2020 (GLOBE NEWSWIRE) -- (TSXV: HEO) – H2O Innovation Inc. (“H2O Innovation” or the “Corporation”) is proud to announce its independent subsidiary, Piedmont, a global leader in corrosion resistant equipment for desalination plants in the industrial and municipal markets, secured several fiber reinforced polyester (FRP) cartridge filter housings and couplings orders, totalling $3.5 M.


Piedmont secured a purchase order for the FRP filter housing scope for what will be the largest sea water reverse osmosis (SWRO) desalination plant in the World. Located in the Middle East, it will treat up to 900,000 m3/day. “We couldn’t be prouder to have won this incredible project. This will certainly help us to win other major projects while growing our backlog and strengthening our reference list,” stated Ties Venema, Managing Director of Piedmont.


For that same business line, Piedmont has also been awarded other major projects. In Tunisia more specifically, for the second time in a row, the team will be providing FRP filter housings for two (2) medium sized (50,000 m3/day) SWRO desalination plants. The team will also deliver, in a couple of months, an important project in Saudi Arabi, that will include four (4) FRP units, treating a total of 24,480 m3/day. Moreover, Piedmont was recently added to the approved vendor list by the Egyptian army.  This will allow them to bid on the upcoming large-scale desalination plants and will provide good growth opportunities in this booming region.


Furthermore, Piedmont won several other projects, for both coupling and FRP business lines, in North America, Latin America, Europe, the Middle East, North Africa, India and Singapore during the last five (5) months. “Our current order book is higher than it has ever been in the company, which gives us confidence with respect to a significant growth of the Piedmont business when compared to our last fiscal year,” added Ties Venema.


About Piedmont
Piedmont is a global leader in corrosion resistant equipment for desalination plants and meets critical customer demand for a wide range of applications in the industrial and municipal markets. For more information, visit www.piedmontpacific.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 for municipal, industrial, energy and natural resources end-users. The Corporation’s activities rely on three pillars which are i) water & wastewater projects, and 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 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 


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8020 Admin

3 months 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  


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8020 Admin

3 months 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.

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8020 Admin

3 months 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 


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8020 Admin

3 months 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.

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8020 Admin

3 months 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 


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8020 Admin

3 months 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 

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