Exro - Status Updates

FTI Consulting Canada Inc. was appointed Receiver and Manager (the "Receiver") of all of the assets, undertakings and properties of Exro Technologies Inc., DPM Technologies Inc. and Cellex Energy Inc. (collectively, the "Companies") pursuant to an Order of the Court of King's Bench of Alberta dated November 14, 2025. The Receivership Order also granted a stay of proceedings in respect of claims arising on or prior to the date of the receivership.

Prior to the receivership, Exro Technologies Inc.'s common shares were delisted from the Toronto Stock Exchange on October 30, 2025, and the Companies subsequently ceased operations.

Pursuant to a Court-approved Sales and Solicitation Process ("SSP"), the Receiver marketed the Companies' assets. The SSP concluded with the completion of a transaction that was approved by the Court and closed on February 10, 2026. The successful transaction was completed through a credit bid by the secured creditor.

As a result of the credit bid transaction and the extent of the secured indebtedness, there were no recoveries for unsecured creditors or shareholders in the receivership proceedings.

On May 29, 2026, the Court approved the Receiver's activities and conduct throughout the receivership proceedings and granted an order providing for the discharge of FTI Consulting Canada Inc. as Receiver upon completion of the administration of the receivership estates.

On May 29, 2026, the Companies were adjudged bankrupt pursuant to a Bankruptcy Order granted by the Court of King's Bench of Alberta, and FTI Consulting Canada Inc. was appointed Trustee in Bankruptcy of the bankrupt estates.

The Trustee continues to administer the bankruptcy estates in accordance with the Bankruptcy and Insolvency Act and the orders of the Court. Further updates will be posted to this website as they become available.