Excellium Inc. Completes the Sale of Substantially All of its Assets
12 Diciembre 2013 - 4:23PM
Marketwired
Excellium Inc. Completes the Sale of Substantially All of its
Assets
MONCTON, NEW BRUNSWICK--(Marketwired - Dec 12, 2013) - Excellium
Inc. (TSX-VENTURE:XLM) (the "Corporation" or "Excellium"), a Tier
II issuer listed on the TSX Venture Exchange (the "Exchange"),
announces that it has completed the previously announced sale of
substantially all of the assets relating to its electronic security
division (the "Security Division"), which constitute substantially
all of Excellium's assets, to Site Integration Plus Inc. ("SIP").
The terms of the sale of the Security Division to SIP were
disclosed in Excellium's press release dated December 6, 2013,
which is available on SEDAR at www.sedar.com.
The sale of the
Security Division to SIP is further to and consistent with the
strategic review process announced by Excellium on August 29, 2013,
which was undertaken to maximize value for shareholders and other
stakeholders of Excellium. Excellium continues to own and operate
its remaining business unit, the Electronic Identification
division. The board of directors of the Corporation will continue
to explore strategic alternatives and restructuring options, which
may include a privatization of the Corporation or the entering into
of strategic partnerships or business combinations.
Excellium intends to
submit a proposal to its creditors in due course and will make
further announcements in that regard at the appropriate time.
Excellium is a
security company specialized in biometrics identity systems and
proactive security management and in the integration of security
products for the institutional and industrial markets. Excellium is
active in two distinct but complementary lines of business:
electronic security, which includes security management, access
control and video surveillance, and electronic identification,
comprising background checks and biometric identification.
Excellium's common shares are listed on the Exchange under the
trading symbol "XLM" and its continuous disclosure filings are
available on SEDAR at www.sedar.com. For further information about
Excellium, please visit its website at www.excellium.ca.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. The
matters set forth in this press release remain subject to review of
the applicable regulatory authorities.
Excellium Inc.Claude RoussinVice President, Administration and
Acting CFO(514) 798-8899
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