Thermoceramix Announces Bankruptcy Filing

MONTREAL, QUEBEC -- (Marketwired) -- 04/28/16 -- ThermoCeramix Corporation ("ThermoCeramix", "TCX" or the "Company") (TSX VENTURE: TCX) today announced that it has filed a voluntary assignment in bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada) in order to effect an orderly liquidation of its assets, property and operations. In conjunction with this filing, PricewaterhouseCoopers Inc., Licensed Insolvency Trustee ("PwC") (Philippe Jordan, CPA, CMA, CIRP, LIT), has been appointed trustee of the bankrupt estate.

The board of directors of the Company has authorized the voluntary assignment as the Company is not able to meet the obligations owing to its creditors or to fund the operations of the Company or its subsidiaries.

The Company also announced that the directors of the Company have resigned and that the employment of the officers of the Company has been terminated.

Any inquires with respect to the operations of the Company or its assets can be made to PwC at 1250 Rene-Levesque Boulevard West, Suite 2500, Montreal, Quebec H3B 4Y1, Attention: Mrs. Valerie Berger, CPA, CA.

About ThermoCeramix

ThermoCeramix Corporation (TSX VENTURE: TCX) is a technology-licensing company engaged in the development of high-performance, energy-efficient electric heating solutions. The Company's patented and proprietary TCX" heating technology uses sprayed-on heaters applied directly to almost any profile and material that requires heat. The technology is energy-efficient, scalable, and adaptable to almost any size and shape. The Company holds a strong and broad intellectual property portfolio of over 25 patents. The Company's strategy is to commercialize one application of its technology platform through the development, production and sales of the Hibachi, a unique indoor-outdoor grill, and then license the technology for numerous additional consumer, commercial & industrial applications. For more information, please visit the Company's web site at www.thermoceramix.com.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
PricewaterhouseCoopers Inc.
Licensed Insolvency Trustee
Mrs. Valerie Berger, CPA, CA
+1 514 205-5001, ext. 1590
+1 514 205-5694 (FAX)

Source: ThermoCeramix Corporation

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