Xebec Announces $1 Million Private Placement

Xebec Adsorption (TSXV:XBC) provide gas filtration, generation and purification solutions to the renewable energy sector. They announced their intention of a private placement for $1 million, maturing in 36 months.
As quoted in the press release:

The Corporation shall, at maturity, reimburse the principal amount of the Debentures by the delivery of, at the option of the Corporation, cash or common shares of the Corporation (the “Common Shares”), at a conversion price of $0.15 per Common Share.
The Debentures may also be converted into Common Shares, at any time prior to the Maturity Date, at the request of a holder of Debentures, at a conversion price of $0.15 per Common Share, at the end of each quarter after the closing of the Private Placement.

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