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

4 hours 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 


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8020 Admin

6 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


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8020 Admin

7 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 


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8020 Admin

8 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 

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Media Relations

6 months ago

Media Relations posted an update Mr. Frederic Dugre, Président and CEO of H2O Innovations (HEO.TSXV), presenting to packed audience in H2O INNOVATION INC.

Mr. Frederic Dugre, Président and CEO of H2O Innovations (HEO.TSXV), presenting to packed audience, hosted MI3 Communications in St George de Beauce.


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Media Relations

6 months ago

Media Relations posted an update President and CEO, Mr. Frederic Dugre of H20 tonight in Chicoutimi, QC in H2O INNOVATION INC.

With over 750 waste water treatment station across North America and 100 Million in Revenues, Mr. Mario Drolet and MI3 Communications of Montrteal have the pleasure to host the President and CEO, Mr. Frederic Dugre of H20 tonight in Chicoutimi, QC. (HEO. TSXV)


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Media Relations

7 months ago

Media Relations posted an update Mr. Fredrick Dugre, President, and CEO of H20 Innovations presents in H2O INNOVATION INC.

Tonight, in Quebec City, QC in the beautiful "ant let Continental Restaraunt", Mr. Fredrick Dugre, President, and CEO of H20 Innovations presents to a packed audience at the Mi3 Communications “Investor Growth Series and Dinner”




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Media Relations

7 months ago

Media Relations posted an update H20 Innovations management presenting this evening to Investors in H2O INNOVATION INC.

H20 Innovations presents this evening at the Mi3 Communications “Investor Growth Series and Dinner”


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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...

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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

4 hours 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 


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8020 Admin

6 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


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8020 Admin

7 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 


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8020 Admin

8 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 

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Media Relations

6 months ago

Media Relations posted an update Mr. Frederic Dugre, Président and CEO of H2O Innovations (HEO.TSXV), presenting to packed audience in H2O INNOVATION INC.

Mr. Frederic Dugre, Président and CEO of H2O Innovations (HEO.TSXV), presenting to packed audience, hosted MI3 Communications in St George de Beauce.


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Media Relations

6 months ago

Media Relations posted an update President and CEO, Mr. Frederic Dugre of H20 tonight in Chicoutimi, QC in H2O INNOVATION INC.

With over 750 waste water treatment station across North America and 100 Million in Revenues, Mr. Mario Drolet and MI3 Communications of Montrteal have the pleasure to host the President and CEO, Mr. Frederic Dugre of H20 tonight in Chicoutimi, QC. (HEO. TSXV)


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Thumb 8020 media relations

Media Relations

7 months ago

Media Relations posted an update Mr. Fredrick Dugre, President, and CEO of H20 Innovations presents in H2O INNOVATION INC.

Tonight, in Quebec City, QC in the beautiful "ant let Continental Restaraunt", Mr. Fredrick Dugre, President, and CEO of H20 Innovations presents to a packed audience at the Mi3 Communications “Investor Growth Series and Dinner”




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Thumb 8020 media relations

Media Relations

7 months ago

Media Relations posted an update H20 Innovations management presenting this evening to Investors in H2O INNOVATION INC.

H20 Innovations presents this evening at the Mi3 Communications “Investor Growth Series and Dinner”


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