Xebec Adsorption Inc. (TSXV:XBC) entered into a transactional agreement to acquire Compressed Air International Inc. for CAD 2.2 million on December 6, 2018. The consideration is subject to customary closing adjustments. Xebec Adsorption Inc. (TSXV:XBC) completed the acquisition of Compressed Air International Inc. on January 1, 2019. The purchase price of CAD 2.2 million consists of CAD 1.54 million paid in cash, while CAD 0.66 million will be earned out over the next three years. Compressed Air International's principals will remain with Compressed Air after the acquisition.