|By Marketwired .||
|December 12, 2013 05:24 PM EST||
MONCTON, NEW BRUNSWICK -- (Marketwired) -- 12/12/13 -- 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.
Vice President, Administration and Acting CFO