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XLTEK completes US$22.5 million IPO

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GMP Securities

On April 25, 2006, Excel-Tech Ltd. ("XLTEK") completed its initial public offering of 4,500,000 common shares at a price of $5 per share for aggregate gross proceeds of $22.5 million. GMP Securities L.P. acted as lead underwriter of a syndicate that also included Canaccord Capital Corporation, Raymond James Ltd. and Versant Partners Inc. XLTEK is a medical technology company that designs, develops and sells proprietary medical devices used to monitor the central and peripheral nervous systems and used in the diagnosis of related disorders. The underwriters of the offering were represented by Fasken Martineau with a team that included Rubin Rapuch, Georges Dubé and Jamie Pennell.


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