Simon got support from Tony & Chris & Tier1 Bank 🙏 Dear Mr Justice Immer,
Please be advised we represent a substantial group of shareholders that want to continue to support
cleantech and energy investment in Canada by restructuring Xebec Adsorption for the benefit of all
stakeholders.
We are cognizant of the looming 5 PM ET phase 2 bid deadline. We understand the Deloitte Monitor
(appointed Officer of the Court) has the power under CCAA to review serious bids and extend SISP deadline as required. There is no prejudice to stakeholders in an effort to save the moral entity, employees, etc., which is the essence of CCAA.
Senator Tony Loffreda, Sponsor of the Fall Economic Statement, has given his support in exploring saving the company and is fully behind our undertaking.
A Tier 1 Bank is reviewing the restructuring and has put a rush on this process and is making it a
priority. A further DIP financing can be looked into should the need arise in the interim.
Let us keep Xebec alive in Quebec and prosper with all divisions intact; Canada’s largest cleantech company by revenue.
Thank you for your prompt attention to the above matter.
Attached to this letter is an email thread supported by an Affidavit (Chris Wardle from Leede Jones Gable). This demonstrates how attempts to provide restructuring support to Xebec Adsorption Inc., prior to the company filing were met by the company.
Simon Arnsby.