Mr. Paul Baehr reports

IBEX SHAREHOLDERS APPROVE SALE OF THE COMPANY

At an annual and special meeting held today, IBEX Technologies Inc. shareholders approved the previously announced proposed amalgamation of IBEX and 15720273 Canada Inc., a newly incorporated wholly owned subsidiary of BBI Solutions OEM Ltd., whereby BBI will acquire all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash. The total consideration is approximately $37.9 million.

The Amalgamation was approved by IBEX shareholders with a positive vote of approximately 99.83% of the shares voted and by a positive vote of approximately 99.80% of the "minority" shares voted as required by applicable securities regulations. More than 75% of IBEX's outstanding shares as of the record date were voted at the meeting.

Closing of the Amalgamation is expected to take place on Monday, April 8, 2024. IBEX first announced the transaction with BBI on February 9, 2024.

Fasken Martineau DuMoulin LLP is acting as legal counsel to IBEX in connection with the Amalgamation.

ABOUT IBEX

IBEX manufactures and markets proteins for biomedical use through its wholly-owned subsidiary IBEX Pharmaceuticals Inc. (Montreal, QC). For more information, please visit the Company's website at www.ibex.ca.

ABOUT BBI

BBI is an international provider of immunoassay products and services to the global diagnostics and life sciences industries. The company offers high-performance recombinant and native reagents across the entire immunodiagnostic workflow, including antigens, antibodies, enzymes and complementary reagents. It also offers a one-stop service for lateral flow assay development and lateral flow point of care manufacturing. Our core purpose is serving the science of diagnostics and in doing so we supply the majority of the main IVD players globally.

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.

We seek Safe Harbor.