Again, I find it interesting that today's release is not being given the focus it deserves.
Xebec (TSX:XBC) announces $59M in credit facilities from National Bank of Canada
- Xebec Adsorption (XBC) has secured C$59 million in credit facilities with National Bank of Canada’s Technology and Innovation Banking Group
- The credit facilities will support Xebec's growth and its Cleantech Service Network acquisition strategy
- These credit facilities represent the broadest access to debt financing available to the company to date
This is yet another evolution in their development as they are now able to attract a significant and qualified credit facility from a national bank. This in of itself should help them to mitigate fees incurred across their previous smaller facilities. This will allow them to smooth out operating cash flow without using the cash they raised.
And this statement is the most interestng to me:
- The credit facilities will support Xebec's growth and its Cleantech Service Network acquisition strategy
If this instrument is specifically for building out their CSN acquisition strategy then it was also likely a precursor for another acquisition. We still have the acquistion LOI they announced but didnt elaborate on previously, but this tells me that there are a few more on the horizon that they will be moving on shortly. They did say they wanted to rollup 25 or so over the next several years.
The day to day shareprice is entertaining but the moves being made by management is really where the company performs. Step by step XBC is becoming a world class organization.