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Azure Dynamics signs deal to sell patent portfolio under CCAA process

Published on August 9, 2012; Published on August 9, 2012

Topics :: Azure Dynamics , TSX , BURNABY

BURNABY, B.C. - Azure Dynamics Corp. (TSX:AZD), which is operating under court protection from creditors, said Thursday it has signed a deal to sell its portfolio of patents and related rights and assets.

Terms of the agreement were not immediately available.

The deal follows a process administered by the company under the supervision of a court-appointed monitor.

Azure develops and produces hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles.

The company abandoned a planned financing and sought court protection from its creditors under the Companies' Creditors Arrangement Act earlier this year.

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