ILUS Provides an Update on Its Industrial and Emergency Response
Subsidiaries
NEW YORK, NY -- May 10, 2023 --
InvestorsHub NewsWire -- ILUS International Inc. (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and growing companies in the public safety, industrial,
defence and renewable sectors. Having previously announced that its
Industrial subsidiary, Quality Industrial Corp. (OTC: QIND), had
appointed Exchange Listing LLC as Capital Market Advisor for its
NYSE American listing, the company confirms that it has been making
strong progress towards this listing in the late summer of 2023.
With the listing process of QIND underway, ILUS is now preparing
its emergency response subsidiary, Emergency Response Technologies
(ERT), for its own uplisting following its large acquisition
currently in negotiation.
Working closely with the
Exchange Listing team, the ILUS and QIND management teams have made
exceptional progress towards finalizing QIND's NYSE American
listing application. Given that the process for QIND is running
smoothly, ILUS is now focussed on ramping up ERT's progress with
the objective of uplisting ERT to a major stock exchange along an
agreed route at the end of 2023 or early 2024.
ILUS is implementing several
strategic measures to ensure that ERT can confidently uplist to a
major stock exchange along the route agreed with the Exchange
Listing team. These measures include but are not limited
to:
-
Completing the large US vehicle manufacturing acquisition which is
currently in negotiation.
-
Merging the two current ERT companies in the US under ERT North
America with the large US acquisition to be added under this
umbrella, all led by ERT CEO, Dan Peters (former President of Rev
Group's Fire Division (NYSE: REVG)).
-
Merging the four ERT companies in the Middle East under ERT Middle
East, managed by a newly appointed General Manager reporting to Dan
Peters.
-
Consolidating all manufacturing outside the US for all products and
vehicles from the UK and Dubai to Serbia, leveraging Serbian
government incentives in the process. This transition is currently
already underway.
-
Merging the European manufacturing and a European acquisition
currently in negotiation under the ERT Europe umbrella.
The measures taken will streamline ERT's operations and
significantly improve ERT's financials while reducing operational
costs by 20-25%.
"Now that QIND's progress towards the NYSE American has gained
momentum of its own, we are aggressively rolling out our ERT
strategy in line with its own planned route towards a major stock
exchange. Our strategy for uplisting ERT is unique, and we believe
it can be delivered within an impressive time frame after the QIND
uplist, with QIND also serving as a "springboard" for ERT. We
believe that each subsidiary uplisting should bring significant
value to ILUS Shareholders as ILUS remains the parent company
reaping the rewards of all subsidiary growth and success." said
ILUS Managing Director, John-Paul Backwell.
ILUS is in the process moving FireBug's current manufacturing to
Serbia in a phased process which will see all FireBug products and
vehicles sold outside the US manufactured in a facility alongside
the already agreed E-Raptor electric utility vehicle facility in
Kragujevac. There is a separate plan for FireBug manufacturing in
the US to be implemented in conjunction with the planned large
acquisition. The company is also currently discussing a new
automotive manufacturing deal in Serbia, with ILUS Managing
Director traveling to Belgrade next week for further negotiations
on the deal.
"We believe it is important to keep our Shareholders updated on our
progress and strategy as we continually assess, align and pivot if
needed based on macroeconomic and geopolitical factors. Working
with the Exchange Listing team, we are now more capable and
confident to deliver our clear strategy for the uplisting of both
QIND and ERT, with other subsidiaries to follow thereafter, but it
is just as important that we streamline and simplify our operations
to reduce operating costs and position ourselves to win larger
contracts, such as the large ERT and Hyperion Defence contracts we
are currently bidding for in the Middle East and Europe," commented
ILUS CEO, Nicolas Link.
ILUS looks forward to providing further updates this week,
including announcement of the first contract signed by its Defence
subsidiary, Hyperion Defence Solutions, followed by a video podcast
with Nicolas Link and John-Paul Backwell.
For further information on ILUS, please see its communication
channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
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contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
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OTC_ILUS
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