AVANTE LOGIXX INC. ANNOUNCES CHANGES TO NAMED EXECUTIVE OFFICERS AND RENEWED FOCUS ON ORGANIC GROWTH AND LEAN OPERATING STRUCTURE
11 April 2022 - 9:00PM
Avante Logixx Inc. (TSX.V: XX) (OTC: ALXXF)
(“
Avante” or the “
Company”) is
planning for organic growth, by continuing to provide outstanding
customer service and by implementing complementary services. In
addition, the Company is reducing administrative expenses,
including the removal of its head office location, implementing
leaner overhead structures and lowering its operating expenses.
Management will provide greater detail on growth and cost reduction
plans in July when the Company expects to report financial results
for its fourth fiscal quarter ending March 31, 2022.
Today, Manny Mounouchos, Avante’s Chief
Executive Officer, is announcing changes with respect to four of
its named executive officers.
Craig Campbell, President &
CEO of Avante, is no longer with the Company effective
immediately.
Han Koren, President of Logixx
Security Inc., has resigned effective April 22, 2022 to pursue an
exciting new venture with another organization. The Company would
like to thank Han for his many achievements since joining in
December 2019, including integrating several prior acquisitions to
create a national platform for Logixx Security to service the local
and national security requirements of its corporate and enterprise
customers across Canada. The Company is grateful for his leadership
and significant success in growing the business notwithstanding a
challenging environment arising from the COVID-19 pandemic.
Bryan Kelly has agreed to
transfer from the Company’s other subsidiary to Logixx Security
effective April 22, 2022, as its Executive Vice President and
General Manager. Prior to this, Mr. Kelly was responsible for the
day-to-day leadership of Avante Security, where he excelled at
improving new installation timelines, customer service and customer
retention. He has decades of experience in the security industry
including a prior role at Logixx Security with direct
responsibility and accountability for service delivery across
Canada. The Company is confident of Bryan’s ability to leverage his
knowledge and customer contacts for the long-term benefit of Logixx
Security.
As of March 31, 2022, Scott
Goodman, Chief People & Legal Affairs Officer of
Avante, has left the Company to pursue other interests. The Company
would like to extend its thanks to Mr. Goodman for his efforts
since joining the organization in October 2018 and wishes him well
in his future endeavours.
This news release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities described herein in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. This
news release does not constitute an offer of securities for sale in
the United States. The securities described herein
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and such securities may not be
offered or sold within the United States absent registration under
U.S. federal and state securities laws or an applicable exemption
from such U.S. registration requirements.
About Avante Logixx Inc.
Avante Logixx Inc. (TSXV: XX) is a Toronto based
provider of high-end security services operating with two
subsidiaries. Logixx Security supports enterprise customers across
Canada, while Avante Security serves residential customers located
in Toronto and Muskoka regions of Ontario, Canada. With experienced
teams, a focus on customer service and development of innovative
solutions, we remain committed to providing our shareholders with
exceptional returns. Please visit our website at
www.avantelogixx.com.
For further information, please contact:
Emmanuel (Manny) MounouchosChief Executive Officer, Avante
Logixx Inc.(416) 923-6984manny@avantesecurity.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward-Looking Information
All statements in this press release, other than
statements of historical fact, may constitute “forward looking
information” with respect to Avante within the meaning of
applicable securities laws. Forward-looking information is often,
but not always, identified by the use of words such as “seek”,
“anticipate”, “plan”, “continue”, “planned”, “expect”, “project”,
“predict”, “potential”, “targeting”, “intends”, “believe”,
“potential”, and similar expressions, or describes a “goal”, or a
variation of such words and phrases or state that certain actions,
events or results “may”, “should”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. Forward-looking
information is subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from those expressed or implied by the
forward looking information, including, without limitation, the
list of risk factors identified in Avante’s Management Discussion
& Analysis (MD&A), Annual Information Form (AIF) and other
continuous disclosure, which list is not exhaustive of the factors
that may affect any of Avante’s forward-looking information. In
connection with the forward-looking statements contained in this
and subsequent press releases, Avante has made certain assumptions
about its business and the industry in which it operates and has
also assumed that no significant events occur outside of Avante’s
normal course of business. Although management believes that the
assumptions inherent in the forward-looking statements are
reasonable as of the date the statements are made, forward-looking
statements are not guarantees of future performance and,
accordingly, undue reliance should not be put on such statements
due to the inherent uncertainty therein. Avante’s
forward-looking information is based on the beliefs, expectations,
and opinions of management on the date the statements are made, and
Avante does not assume any obligation to update forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by applicable law. For the
reasons set forth above, readers should not place undue reliance on
forward-looking information.
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