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Not for distribution to U.S. news wire services or for dissemination in the United States
TORONTO-Ontario, April 11, 2022 (GLOBE NEWSWIRE) -- 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) Mounouchos
Chief Executive Officer, Avante Logixx Inc.
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.
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.