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XLM XL ID Solutions

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0.00 (0.00%)
Share Name Share Symbol Market Type
XL ID Solutions TSXV:XLM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Excellium Inc. Announces Changes to its Board of Directors and Exploration of Strategic Alternatives

29/08/2013 11:49pm

Marketwired Canada


Excellium Inc. (TSX VENTURE:XLM) (the "Corporation" or "Excellium"), a Tier II
issuer listed on the TSX Venture Exchange (the "Exchange"), announces that David
Holt, Denis Losier, Ross Finlay and Jean Pouliot have resigned their positions
as directors of Excellium, effective immediately. They are replaced by Bernard
Imbeault, Claude Roussin and Sylvain Lemieux, who will join Monique Imbeault
(Chair) and Jean-Claude Siew (President and CEO) on the Board. These nominations
are welcome additions as all individuals are very involved in the business. Mrs.
Imbeault wishes to thank the departing directors for their contribution.


Bernard lmbeault is Chairman Emeritus of Imvescor Restaurant Group, a company he
founded in 1968 where he was CEO for over forty years. Mr. Imbeault holds a BA
in Economic Science, a Masters in Commercial Science (Management) and a Masters
in Business Administration (Finance). He has also completed postgraduate studies
at the Ecole nationale d'administration (ENA) in France. In 2003, Mr. Imbeault
received an honorary Doctorate in Business Administration from the Universite de
Moncton in New Brunswick and in 2004, an honorary Doctorate in Law from Mount
Allison University in New Brunswick. In 2003, Mr. Imbeault was awarded the Ernst
& Young Atlantic Entrepreneur of the Year as well as the Top 50 CEO Award from
the Atlantic Business Magazine. He also received the Paul Harris Award from the
Rotary Club of Greater Moncton for his service to the community. In 2005, he was
the Laureate recipient of the Junior Achievement New Brunswick Business Hall of
Fame and in 2006, Mr. Imbeault was Atlantic Business Magazine's CEO of the Year.


Claude Roussin is Vice-President - Administration and Secretary at Excellium and
continues as Acting CFO. Mr. Roussin is an experienced administrator. He has
evolved within national distribution and retailing companies where he has
acquired an expertise in internal control, financial analysis, information
management and general administration. Throughout his career, he has had
experience with the accounting, financial, judicial and managing aspects of
company management. Mr. Roussin is known as a Member of the Private Companies'
Board of Directors as corporate secretary and as a Member of the committee
responsible for the strategic orientation and positioning of a Quebec restaurant
chain.


Sylvain Lemieux is Vice-President, Business Development and Special Projects at
Excellium. In 1995, Mr. Lemieux co-founded Unicom (now Excellium Inc.), where he
held the position of Director of Technologies and oversaw the Unidac, Unigea and
Unic-ID projects. Mr. Lemieux supervised every step of the research and
development. In 1997, Mr. Lemieux led Unicom's technical team responsible for
the design and development of the Unigea software, which manages the logistics
coordination, the accreditation and the security during important events. M.
Lemieux was responsible for development and maintenance during various important
events that have used Unigea where he was in charge of the technical and
accreditation team.


The Corporation continues to experience operational and financial challenges due
to difficult market conditions and a lower volume of sales. This has resulted in
negative operating cash flows, ongoing working capital deficits and cash
shortfalls. In order to address the challenges and uncertainties facing the
Corporation, the Board has authorized senior management to explore strategic
alternatives in an effort to maximize shareholder value, including the potential
sale of all or part of the Corporation, a privatization transaction, or the
entering into of strategic partnerships or other business combinations. While
undertaking this process, the Board and senior management team remain highly
focused on executing Excellium's long-term operational plan and improving its
financial and operational performance.


There can be no assurance that the Board's exploration of strategic alternatives
will result in any transaction being pursued, entered into or consummated.
Excellium does not intend to discuss or disclose developments with respect to
this process until the Board has approved a definitive course of action.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Excellium Inc.
Jean-Claude Siew
President and CEO
(514) 798-8899

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