/NOT FOR RELEASE OVER US NEWSWIRE SERVICES OR DISSEMINATION IN THE US/
MONTREAL, March 18 /CNW Telbec/ - (All amounts are in Canadian dollars)
GLV Inc. ("GLV" or the "Company"; ticker symbols GLV.A, GLV.B) announced today that it has entered into a revised private placement financing agreement, on a bought-deal basis, with a syndicate of underwriters led by RBC Capital Markets and National Bank Financial to sell an aggregate of 4,900,000 Subordinate Voting Shares (the "Shares") of GLV at a price of $8.90 per Share, for gross proceeds of $43,610,000.
The offering is expected to close on or about March 31, 2010 and is subject to certain conditions including the receipt of all required regulatory approvals.
The Company intends to use the net proceeds of the offering for general corporate purposes.
The securities offered have not been, 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 any applicable exemption from the registration requirement of such Act.
This press release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
About GLV Inc.
GLV is a leading global provider of technological solutions used in water treatment as well as in pulp and paper production. GLV is present in some 30 countries and, as of the date hereof, has approximately 2,350 employees.
Notice Regarding Forward-Looking Statements
Certain statements set forth in this press release and other communications to the public that describe management's 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. These may be observations concerning, among others, strategies, expectations, planned activities or actions to come. Forward-looking statements are recognized by the use of terms such as "forecast", "project" "could", "plan", "aim", "estimate" and other similar terms, possibly used in the future or conditional, notably in regard to certain assumptions.
GLV's management would like to point out that forward-looking statements involve a number of risks and uncertainties such that GLV Inc.'s actual and future results could differ materially from those indicated. Factors of uncertainty and risk that might result in such differences include trends in the demand for GLV Inc.'s products and services and cost of its raw materials, fluctuations in the value of various currencies, pressures exerted on prices by the competition and general changes in economic conditions. There can be no assurance as to the materialization of the results, performance or achievements as expressed in or underlying the forward-looking statements. Unless required to do so pursuant to applicable securities legislation, management assumes no obligation as to the updating or revision of the forward-looking statements as a result of new information, future events or other changes.
Additional information about the risk factors to which GLV is exposed is provided in the "Risk Management" section of the Management's Report for the interim period ended December 31, 2009, available on SEDAR (www.sedar.com) and the Company's website (www.glv.com).
SOURCE GLV Inc.
For further information: For further information: Marc Barbeau, C.A., Executive Vice-President and Chief Financial Officer, (514) 284-2224, email@example.com; www.glv.com