Methes Energies Announces Closing of Public Offering of Common Stock
May 27 2014 - 1:26PM
Marketwired
Methes Energies Announces Closing of Public Offering of Common
Stock
LAS VEGAS, NV--(Marketwired - May 27, 2014) - Methes Energies
International Ltd. (NASDAQ: MEIL), a renewable energy company that
produces and sells biodiesel fuel and biodiesel processing
equipment, today announced the closing of its previously announced
underwritten public offering of 2,500,000 registered shares of its
common stock, par value $0.001 per share, at a price to the public
of $2.00 per share. In connection with the offering, the Company
has also granted the underwriter a 30-day option to purchase up to
an additional 375,000 shares of common stock from the Company to
cover over-allotments, if any.
The Company intends to use the net proceeds of the offering
primarily to perform the preparatory work necessary to increase the
production capacity and for other improvements at its Sombra plant,
and for working capital and general corporate purposes.
National Securities Corporation, a wholly owned subsidiary of
National Holdings, Inc. (OTCBB: NHLD), acted as sole book-running
manager for the offering. The Company offered and sold these
securities pursuant to its existing shelf registration statement
(File No. 333-195271), including a base prospectus, as declared
effective by the Securities and Exchange Commission (the "SEC") on
May 14, 2014.
A final prospectus supplement describing the terms of the
offering was filed with the SEC and formed a part of the effective
registration statement. Copies of the prospectus supplement and the
accompanying base prospectus may be obtained by contacting the
book-running manager at the following address:
National Securities Corporation 410 Park Ave, 14th Floor New
York, NY 10022 Attn: Kim Addarich Telephone: (212)-417-8164 Email:
prospectusrequest@nationalsecurities.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Methes
Energies International Ltd., and shall not constitute an offer,
solicitation or sale of any security in any 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 state or jurisdiction.
About Methes Energies International Ltd.
Methes Energies International Ltd. is a renewable energy company
that offers a variety of products and services to biodiesel fuel
producers. Methes also offers biodiesel processors that are unique,
truly compact, fully automated state-of-the-art and continuous flow
that can run on a wide variety of feedstocks. Methes markets and
sells biodiesel fuel produced at its showcase production facility
in Mississauga, Ontario, Canada, and at its 13 MGY facility in
Sombra, Ontario, to customers in the U.S. and Canada, as well as
providing multiple biodiesel fuel solutions to its
clientele. Among its services are selling commodities to its
network of biodiesel producers, selling their biodiesel production
and providing clients with proprietary software to operate and
control their processors. Methes also remotely monitors the
quality and characteristics of its clients' production, upgrades
and repairs their processors and advises clients on adjusting their
processes to use varying feedstock to improve the quality of their
biodiesel. For more information, please visit www.methes.com.
Forward-looking Statements
This press release contains forward-looking statements
regarding future events and financial performance. In some cases,
you can identify these statements by words such as "may," "might,"
"will," "should," "except," "plan," "intend," "anticipate,"
"believe," "estimate," "predict," "potential," or "continue," the
negative of these terms and other comparable terminology. These
statements involve a number of risks and uncertainties and are
based on numerous assumptions involving judgments with respect to
future economic, competitive and market conditions and future
business decisions, all of which are difficult or impossible to
predict accurately and many of which are beyond the Company's
control. There are or may be important factors that could cause our
actual results to materially differ from our historical results or
from any future results expressed or implied by such forward
looking statements. These factors include, but are not limited to,
those discussed under the section entitled "Risk Factors" in our
Annual Report on Form 10-K for the year ended November 30,
2013, filed on February 25, 2014, as amended, which is available at
the U.S. Securities and Exchange Commission website at
www.sec.gov. The forward-looking statements in this
press release are based upon management's reasonable belief as of
the date hereof. The Company undertakes no obligation to revise or
update publicly any forward-looking statements for any
reason.
Contacts: Methes Energies International Ltd. Michel G. Laporte
Chairman and CEO 702-932-9964
Methes Energies (PK) (USOTC:MEIL)
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