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No you are not because the contract was with your employer and not the buyer.
And the employer was not a corporation and even if it was the new owner didn't buy the shares but just the assets.
Does that answer your question?
There are two questions here.
First, in terms of the non-compete, it can be enforce by XYZ.Second, in terms of termination pay at the least you would be entitled to pay pursuant to the Employment Standards Act but in many cases you would be entitled to reasonable termination pay (or notice) if the job is not going to be comparable or if the new employer is not going to recognize your years of service with the old employer.
But XYZ can come after you given that you signed the contract with them.
So you are going to be bound by the contract.