XPEL Technologies Announces Update in Respect of Its Private Placement Financing

SAN ANTONIO, TEXAS--(Marketwired - Feb. 10, 2017) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

XPEL Technologies Corp. (TSX VENTURE:DAP.U) further to its press release of January 23, 2017, XPEL is pleased to announce that it has received conditional approval from the TSX Venture Exchange in connection with its proposed non-brokered private placement of up to 2,097,903 of its Common Share at a purchase price of US$1.43 per share for gross proceeds of up to US$3,000,000. XPEL is in the process of collecting all necessary documentation from the subscribers and anticipates that the initial closing of the private placement will occur in mid-February 2017.

The Common Shares to be offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of U.S. federal or state securities laws. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the Common Shares offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information concerning the Corporation, please refer to the Corporation's profile on the SEDAR website at www.sedar.com.

About XPEL Technologies Corp.

XPEL is the leading supplier of automotive paint, headlamp and window protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Using XPEL's propriety software and patented materials, our professional design team develops products that deliver the ultimate in vehicle protection, meeting the demands of a broad range of makes and models. XPEL is the developer of the Design Access Program software, and manufacturer of XPEL™ Automotive Paint and Headlamp Protection Products. XPEL has forged the cutting-edge of automotive protection technology, and leads the industry in quality, technical support and customer service. Additional information can be found on XPEL's website at www.xpel.com.

Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on management's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the offering of Common Shares and the timing thereof. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to XPEL. The material facts and assumptions include obtaining approval of the TSX Venture Exchange of the proposed offering; the availability of certain prospectus exemptions in respect of the offering; and the timing of the closing of the offering. The corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this News Release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this News Release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. federal or state securities laws.