01:44 PM EDT, 04/03/2024 (MT Newswires) -- IBEX Technologies ( IBXNF ) shareholders on Wednesday approved the proposed amalgamation of IBEX and 15720273 Canada Inc., a newly-incorporated wholly owned subsidiary of BBI Solutions OEM Limited.

BBI will acquire all of the shares of IBEX at $1.45 per share in cash for total consideration of $37.9 million.

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

IBEX shares last traded Tuesday, closing at C$1.44 on the TSX Venture Exchange.