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XLM XL ID Solutions

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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 -

Superior Court of Quebec Approves Proposal Submitted by XL-ID Solutions Inc.

13/02/2014 8:24pm

Marketwired Canada


XL-ID Solutions Inc. (formerly known as Excellium Inc.) (TSX VENTURE:XLM) (the
"Corporation" or "XL-ID"), a Tier II issuer listed on the TSX Venture Exchange
(the "Exchange"), announces that it has received a final order from the Superior
Court of Quebec (the "Court") approving the proposal approved at the meeting of
its creditors which took place on January 24, 2014.


Under the terms of the proposal, an amount of $275,000 will be made available to
Raymond Chabot Inc., as Trustee, for distribution to creditors in the manner set
forth in the proposal, less an amount not to exceed $75,000 to cover fees and
expenses of the proposal. The Court order authorizes XL-ID to proceed with the
reorganization of XL-ID's share capital under section 191 of the Canada Business
Corporations Act, pursuant to which its outstanding common shares will
effectively be cancelled for no consideration and XL- ID's majority shareholder
and only secured creditor, General Financial Corporation, will be the sole
shareholder. Trading in XL-ID shares has been halted, and XL-ID will be delisted
from the Exchange and will apply to cease to be a reporting issuer shortly.


XL-ID is a security company specialized in biometrics identity systems,
proactive security management and in the integration of security products for
the institutional and industrial markets. XL-ID is active in electronic
identification, comprising background checks, biometric identification and
management of large events and summits. For further information about XL-ID,
please visit its website at www.XL-ID.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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
XL-ID Solutions Inc.
Claude Roussin
Vice President, Administration and Acting CFO
(514) 360-4550

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