XPEL Completes Private Placement Financing
XPEL COMPLETES PRIVATE PLACEMENT FINANCING
SAN ANTONIO, TEXAS, October 28, 2005…XPEL Technologies Corp. (CNQ: XPEL.U) announced today the completion and closing of a private placement in the amount of US$625,841 priced at US$0.64 per Unit. Each Unit consisted of one common share of the Company and one warrant entitling the holder to purchase an additional common share of the Company for two years from the closing date at a price of US$0.95 per share. The Company has paid a finder’s fee of 5% of the gross proceeds, along with 195,575 “A” warrants exercisable at US$0.64 and 195,575 “B” warrants exercisable at US$0.95, each carrying a 2-year term from today’s closing date. The intended use of proceeds from the financing includes administrative expenses, working capital needs and increased inventory requirements.
XPEL Technologies Corp. (www.xpel.com), publicly traded on the Canadian Trading and Quotation System Exchange, is the worldwide leader in the electronic delivery of top automotive aftermarket products, utilizing the Internet as an integral component for its design, manufacturing, distribution and customer relationship strategies. The Company’s DAP software utility offers Dealers the industry’s most efficient and productive tool set for better serving customers with “best of breed” solutions in real-time. XPEL has clear advantages over the competition through its proprietary corporate framework consisting of an expansive library of installation-friendly window tint, paint and headlight protection products, coupled with a unique web-based remote manufacturing and distribution software, superior installation training curriculum and facilities, and established and growing sales distribution channels.
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Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)