Mr. Paul Baehr reports

IBEX COMPLETES SALE OF THE COMPANY

IBEX Technologies Inc. has completed the sale of the company by amalgamating with 15720273 Canada Inc., a newly incorporated wholly owned subsidiary of BBI Solutions OEM Ltd. In the amalgamation, BBI acquired all of the issued and outstanding shares of IBEX at a price of $1.45 per share in cash. The total consideration for the sale of IBEX was approximately $37.9-million.

As previously announced, the amalgamation was approved by IBEX shareholders at an annual and special meeting held on April 3, 2024, with a positive vote of approximately 99.83 per cent of the shares voted.

In connection with the sale, IBEX has applied for delisting from the TSX Venture Exchange, which is expected to occur on or about Thursday, April 11, 2024. Trading in IBEX's shares on the TSX Venture Exchange has been halted and will remain halted until delisting. IBEX will also apply to the provincial securities commissions for revocation of its status as a reporting issuer.

ABOUT IBEX Technologies Inc.

IBEX manufactures and markets proteins for biomedical use through its wholly owned subsidiary IBEX Pharmaceuticals Inc.

About BBI Solutions OEM Ltd.

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. The company's core purpose is serving the science of diagnostics and in doing so the company supplies the majority of the main IVD players globally.

We seek Safe Harbor.