IBEX Technologies Signs Definitive Agreement for Sale of the Company for $1.45 Cash Per Share

MONTREAL, Feb. 12, 2024 (GLOBE NEWSWIRE) -- IBEX Technologies Inc. (“IBEX” or the “Company”) (TSX Venture: IBT) is pleased to announce that it has entered into a binding acquisition agreement dated February 9, 2024 (the “Acquisition Agreement”) and related agreements with 15720273 Canada Inc. (the “Purchaser”), a newly-incorporated, wholly-owned subsidiary of BBI Solutions OEM Limited (“BBI”), whereby BBI will acquire all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash. The transaction will be effected by way of an amalgamation of IBEX and the Purchaser under the Canada Business Corporations Act (the “Amalgamation”) to form an amalgamated corporation (“Amalco”). Under the Amalgamation, each issued and outstanding common share of IBEX will be exchanged for one redeemable preferred share of Amalco, which will immediately be redeemed for $1.45 cash per share. The total consideration is approximately $37.9 million.

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