XPEL Exchanges Debt For Equity
XPEL EXCHANGES DEBT FOR EQUITY
-Completes Warrant Financing-
SAN ANTONIO, TEXAS, February 25, 2005…XPEL Technologies Corp. (CNQ: XPEL.U) announced today the exchange of its outstanding convertible debt for common shares in the Company. MG&R Limited of Boerne, Texas, has been issued 312,500 shares of XPEL common stock for the retirement of its US$125,000 long-term note.
The Company also announced that on January 13th of this year, it successfully completed the exercise of 954,549 common stock purchase warrants totaling approximately US$382,000.
J. Christopher Cuevas, XPEL’s Chief Financial Officer, stated, “We appreciate the confidence in XPEL’s vision our debt holders and shareholders have shown us as we continue growing the business. The support of these groups has allowed us to accelerate our plans for building a world-class automotive aftermarket products Company.”
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.
The CNQ has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
Chief Executive Officer
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)