OTTAWA, June 25, 2012 /CNW/ - Seprotech Systems Incorporated (TSXV: SET) ("Seprotech" or the "Company") advises that it has entered into a financial advisory agreement with Jacob Securities Inc. (the "Agreement").
Jacob Securities Inc. ("Jacob") is an independent full-service investment bank providing underwriting and financial advisory services to companies in the renewable power, infrastructure, energy and mining sectors. The firm, which is headquartered in Toronto, primarily services small and mid-cap issuers in North America and around the world. The firm has comprehensive coverage of the complete energy spectrum - from renewable energy and clean technology to conventional utilities to oil and gas to energy linked natural resources such as coal, uranium, lithium and rare earth.
Jacob does not currently own directly any common shares of Seprotech and the relationship between Jacob and the Company is entirely arms-length. Jacob has also contracted to sponsor the TSX Venture Exchange listing for the Company's recently announced merger by way of reverse takeover with the WESA Group Inc.
Under the terms of the agreement, Jacob will provide Seprotech with advisory services to support the Company's positioning within the capital markets. The agreement provides for a monthly retainer of $5,000, increasing to $7,500 monthly at such time as trading in Seprotech's common shares recommences. The agreement is for an initial term of 12 months, and may be extended by mutual agreement. Source of funds for these services is from the Company's operating revenues. No indirect consideration is involved.
Seprotech is a provider of pre-engineered water and wastewater treatment solutions to the municipal/land development, resource sector and military market place, including Reverse Osmosis water purification systems, ROTORDISK® biological sewage treatment package plants and CrystalBlue™ membrane-based water recycling systems.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Some of the statements in this press release, including those relating to the Company's strategies and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions, are forward-looking statements within the meaning of securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. The Company does not undertake any obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events, except as required by law.
SOURCE Seprotech Systems Incorporated