ProSep announces closing of rights offering



    - For total gross proceeds of $5 million -

    MONTREAL, Aug. 24 /CNW/ - ProSep Inc. (TSX: PRP), dedicated to providing
process solutions to the oil and gas industry, today announces the successful
closing of its previously announced rights offering (the "Rights Offering"). A
total of 38,461,538 Common Shares of the Company available under the Rights
Offering were issued for gross proceeds of $5 million.
    As per the Additional Subscription Privilege detailed in the Short Form
Prospectus, the allocation of unexercised Rights will be completed by
Computershare Investor Services Inc., ProSep's Subscription Agent.
Shareholders who subscribed for additional Common Shares will be advised of
their additional allocation by the Subscription Agent, or through their CDS
Participant.
    The proceeds of the Rights Offering will be used for general working
capital.

    About ProSep Inc.

    ProSep Inc. is dedicated to providing process solutions to the oil and
gas industry. ProSep designs, develops, manufactures and commercializes
technologies to separate oil, water and gas generated by oil and gas
production. For more information, please visit www.prosepinc.com.

    Caution concerning forward-looking statements
    This press release may contain forward-looking statements, including
statements regarding the business and anticipated financial performance of
ProSep Inc. These statements are based, among others, on the Company's current
assumptions, expectations, estimates, objectives, plans and intentions
regarding projected revenues and expenses, the economic and industry
environments in which the Company operates or which could affect its
activities, the Company's ability to attract new clients and consumers as well
as its operating costs, raw materials and energy supplies which are subject to
a number of risks and uncertainties. Forward-looking statements can generally
be identified by the use of the conditional tense, the words "may", "should",
"would", "believe", "plan", "expect", "intend", "anticipate", "estimate",
"foresee", "objective" or "continue" or the negative of these terms or
variations of them or words and expressions of similar nature. Actual results
could differ materially from the conclusion, forecast or projection stated in
such forward-looking information. These statements are subject to a number of
risks and uncertainties that may cause actual results to differ materially
from those contemplated by the forward-looking statements. Some of the factors
that could cause such differences include but are not limited to the Company's
ability to develop, manufacture, and successfully commercialize value added
equipments and services, the availability of funds and resources to continue
its operations and pursue its projects, legislative or regulatory
developments, competition, technological change, changes in government and
economic policy, inflation and general economic conditions in geographic areas
where ProSep Inc. operates. These and other factors should be considered
carefully and undue reliance should not be placed on the forward-looking
statements.





For further information:

For further information: ProSep Inc., Jacques L. Drouin, President &
CEO, (514) 522-5550 ext. 226, jdrouin@prosepinc.com; Patrice Daignault, CFO &
Corporate Secretary, (514) 522-5550 ext. 235, pdaignault@prosepinc.com

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PROSEP INC.

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