Source: Xebec Adsorption Inc.
  • Xebec Adsorption (XBC) is filing an application with the Superior Court of Québec under the Companies’ Creditors Arrangement Act
  • The initial order is expected to provide a stay of proceedings and creditor claims in order to allow the Xebec group to implement further restructuring initiatives
  • Trading of the company’s common shares on the Toronto Stock Exchange is expected to be halted until a review is undertaken by the TSX
  • Xebec is a global provider of clean energy solutions for renewable and low-carbon gases used in energy, mobility and industrial applications
  • Xebec Adsorption Inc. (XBC) opened trading at C$0.51

Xebec Adsorption (XBC) is filing an application with the Superior Court of Québec under the Companies’ Creditors Arrangement Act.

The initial order is expected to provide a stay of proceedings and creditor claims in order to allow the Xebec group to implement further restructuring initiatives and initiate a Court-approved solicitation process to solicit interest in a sale of the assets and business segments of the corporation and its subsidiaries.

The board of directors of the Xebec group determined that it was in the best interests to seek creditor protection under the CCAA.

As a result of the CCAA filing, trading of the company’s common shares on the Toronto Stock Exchange is expected to be halted until a review is undertaken by the TSX regarding the suitability of the corporation to remain listed on the TSX.

The corporation will provide a further update on these matters once more information is available.

Xebec is a global provider of clean energy solutions for renewable and low-carbon gases used in energy, mobility and industrial applications.

Xebec Adsorption Inc. (XBC) opened trading at C$0.51.


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