15720273 Canada Inc. entered into a binding acquisition agreement to acquire IBEX Technologies Inc. (TSXV:IBT) from Milfam LLC, McLean Capital Inc., Paul Baehr and others for CAD 35.5 million on February 9, 2024. BBI will acquire all of the issued and outstanding shares of IBEX at a price of CAD 1.45 per share in cash. 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 CAD 1.45 cash per share. The total consideration is approximately CAD 37.9 million. Upon completion of the Amalgamation, shareholders will cease to hold shares of IBEX and IBEX will be delisted from the TSX Venture Exchange.

The Amalgamation is subject to approval by at least two-thirds of the votes cast by IBEX shareholders present in person or represented by proxy and entitled to vote at the Meeting. The Board of Directors of IBEX, after consultation with its financial and legal advisors, has unanimously approved entering into the Acquisition Agreement. Paul Baehr, Chairman, President and Chief Executive Officer of IBEX, and all of IBEX?s other directors and senior officers, holding in the aggregate approximately 10.39% of IBEX?s outstanding shares, have entered into Support and Voting Agreements with the Purchaser under which they have each agreed irrevocably to support and vote their shares in favour of the Amalgamation. In addition, McLean Capital Inc. of Laval, Québec, and entities managed and advised by MILFAM LLC, holding in the aggregate approximately 36.76% of IBEX?s outstanding shares, have entered into similar Support and Voting Agreements with the Purchaser under which they have each agreed irrevocably to support and vote their shares in favour of the Amalgamation. As a result, shareholders holding in the aggregate approximately 47.15% of IBEX?s outstanding shares have entered into Support and Voting Agreements with the Purchaser.

Fort Capital Partners provided a fairness opinion to the Board of Directors of IBEX in connection with the Amalgamation. Laurel Hill Advisory Group has been retained as IBEX?s shareholder communications advisor. Fasken Martineau DuMoulin LLP is acting as legal counsel to IBEX in connection with the Amalgamation. Computershare Investor Services Inc. acted as transfer agent to IBEX.