|By Marketwired .||
|January 10, 2014 02:08 PM EST||
MONCTON, NEW BRUNSWICK -- (Marketwired) -- 01/10/14 -- Excellium Inc. (TSX VENTURE: XLM) (the "Corporation" or "Excellium"), a Tier II issuer listed on the TSX Venture Exchange (the "Exchange"), announces that has changed its name to "XL-ID Solutions Inc." The name change was made pursuant to the previously announced transaction with Site Integration Plus Inc., which closed on December 11, 2013 following receipt of approval from the Superior Court of Quebec. Under the terms of the Court order, the Corporation is authorized to proceed with the change of name without shareholder approval.
The name change takes effect immediately. The Corporation's stock symbol will remain "XLM" on the Exchange.
As announced on December 4, 2013, the Corporation has filed with the Office of the Superintendent of Bankruptcy a notice of intention to submit a proposal to its creditors pursuant to the Bankruptcy and Insolvency Act (Canada). The Corporation intends to submit a proposal to its creditors in January 2014 and will make further announcements in that regard at such 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