Xebec Announces Sale of Tiger Filtration

MONTRÉAL, Jan. 31, 2023 /CNW Telbec/ - Xebec Adsorption Inc. ("Xebec" or the "Corporation"), a global provider of sustainable gas solutions, announced today the sale of its wholly-owned United Kingdom-based subsidiary, Tiger Filtration Limited, further to the Corporation's previously announced ongoing sale and investment solicitation process (the "SISP"), to a wholly-owned subsidiary of the FORUM Family Office ("FORUM") based in Munich. FORUM operates a portfolio of mid-sized companies, which are active in industrial niche businesses.

Osler, Hoskin & Harcourt LLP and Stevens & Bolton LLP acted as Xebec's legal advisors in connection with the transaction. The Corporation's financial advisor is National Bank Financial Inc. The Endeavour Partnership LLP acted as UK legal counsel to FORUM in connection with the transaction.

Xebec will provide further updates as developments warrant. Information regarding the SISP and the Corporation's proceedings under the Companies' Creditors Arrangement Act and in the United States under Chapter 15 of the Bankruptcy Code (collectively, the "CCAA Proceedings") are available on the Deloitte Restructuring Inc. (the "Monitor")'s website at https://www.insolvencies.deloitte.ca/Xebec. Information regarding CCAA Proceedings can also be obtained by calling the Monitor at 514-393-6722 or toll free at 1-888-393-6722 and via email at [email protected].

Related link:
https://www.xebecinc.com

SOURCE Xebec Adsorption Inc.

Investor Relations: Xebec Adsorption Inc., [email protected], [phone]