Avante Logixx Enters Into Letter of Intent to Acquire C&B Alarms Ltd.
30 September 2022 - 07:01AM
Avante Logixx Inc. ("Avante
" or the
") (TSXV: XX) is pleased to announce that
it has entered into a non-binding letter of intent (the
“Letter of Intent
”) to acquire certain of the
business and assets of C&B Alarms Ltd. (“C&B
The parties currently intend to negotiate and
enter into a definitive agreement for the Transaction (the
“Agreement”), which will include customary terms
and conditions for a transaction of this nature, including (i)
completion of due diligence by the Company; and (ii) the receipt of
all requisite corporate, shareholder and regulatory approvals.
There can be no assurance that a definitive agreement will be
negotiated or that the Transaction will be completed as proposed,
if at all.
David Coon, founder of C&B has been
operating in Muskoka for more than 40 years. They service over 800
properties throughout the region. In addition many of these
property owners live in the Toronto area serviced by Avante.
“The proposed C&B acquisition complements
our existing client footprint in the Muskoka region and confirms
our commitment to expanding our residential security business”,
said CEO Manny Mounouchos. “We look forward to serving the C&B
clients as customers of Avante, offering them enhanced security
services, including key holder alarm response, secured driving and
video analytics”. Avante maintains a permanently staffed office in
Port Carling, which would be a direct benefit to all of our clients
in the area.
Avante Logixx Inc. (TSXV: XX) is a Toronto based
provider of high-end security services. We acquire, manage and
build industry leading businesses which provide specialized,
mission-critical solutions that address the needs of our customers.
Our businesses continuously develop innovative solutions that
enable our customers to achieve their objectives. With an
experienced team and a proven track record of solid growth, we are
taking steps to establish a broad portfolio of security businesses
to provide our customers and shareholders with exceptional returns.
Please visit our website at www.avantelogixx.com and consider
joining our investor email list.
Emmanuel Mounouchos CEO 416 923 6984
firstname.lastname@example.orgCautionary Statements and
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. This forward-looking
information includes statements with respect to, among other
things, discussions of future plans and forecasts and statements as
to management’s expectations and intentions with respect to the
Transaction the expected financial impact of the Transaction.
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 from those
expressed or implied by the forward looking information, including,
without limitation, the signing of the Agreement on the same terms
and conditions as the Letter of Intent, the timing and closing of
the proposed transaction contemplated by the Letter of Intent, the
Company realizing on the anticipated value of the Transaction, the
Company maintaining its projected growth, general economic
conditions or conditions in the financial markets and the risks
identified in Avante’s Management Discussion & Analysis, Annual
Information Form 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, including
assumptions made about the business of C&B Alarms. 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.
Neither the TSX Venture Exchange Inc.
("Exchange") nor its regulation services provider (as that term is
defined in the policies of the Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
Avante Logixx (TSXV:XX)
Historical Stock Chart
From Feb 2023 to Mar 2023
Avante Logixx (TSXV:XX)
Historical Stock Chart
From Mar 2022 to Mar 2023