TORONTO, April 1, 2015 /CNW/ - Avante Logixx Inc.
(TSXV: XX) ("Avante") is pleased to announce that it has
closed its previously announced acquisition of all of the issued
and outstanding shares of LVS Inc. ("LVS") pursuant to a
share purchase agreement dated March
13, 2015.
Based in the Greater Toronto
Area and founded in 1993 as a high end custom residential
security and automation services integrator, LVS
(www.lvssecurity.com) developed a specialized skillset in high end
residential installations and later a commercial security
capability. LVS generates over $2,800,000 in revenue annually of which
approximately 1/3rd is recurring in nature. The
founder of LVS, Yoram Dushek, will
act as President of LVS pursuant to an employment agreement and
continue to drive strategy and execution.
About Avante Logixx (www.avantelogixx.com
)
Avante Logixx Inc. (TSX VENTURE: XX) is a Toronto based security and technology company.
Its subsidiaries, Avante Security Inc. (www.avantesecurity.com )
and recently acquired INTO Electronics Inc.,
(www.intoelectronics.com ) together provide best in class security
response and other security services for residential and commercial
clients, and high-rise condominium applications, and are industry
leaders in designing and installing complex security systems,
access control, intelligent video analytics and smart home
automation. Its International Travel Security offering helps
corporations protect traveling employees working abroad in
medium/high risk jurisdictions and has executed travel details in
over 60 countries. The company continuously develops innovative
products and applications within its core competencies. Please
visit our websites at www.avantelogixx.com and
www.avantesecurity.com and consider joining our investor email
list. Avante recently conducted a test comparing its rapid
alarm response service with that of other alarm companies.
For the result of this test please see www.6minuteresponse.com.
FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release
constitute "forward-looking statements" or "forward-looking
information" These statements include, but are not limited to,
statements with respect to the entering into of agreements, the
closing of transactions and the use of proceeds. These statements
address future events and conditions and, as such, involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. Such factors include, among
others, the timing of transactions, the ability to fulfill certain
conditions and obtain regulatory approvals, and the ability to
raise funds and use the proceeds as anticipated.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Avante Logixx Inc.