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TORONTO, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Avante Logixx Inc. (XX.V) (ALXXF) (“Avante” or the “Company”) is pleased to announce its results of its annual general and special meeting of shareholders held on September 18, 2019 (the “Meeting”).
The Company put forward the following resolutions to be voted on by shareholders at the Meeting, all of which were approved: (i) the election of directors; (ii) to appoint RSM Canada LLP as auditor of the Company for the 2020 fiscal year; (iii) the ratification of the Company’s Stock Option Plan.
A total of 13,353,764 Common Shares of the 21,192,004 Common Shares of the Company that were outstanding as at the record date were voted at the Meeting, representing 63.01% of the Common Shares.
Each of the directors elected at the Meeting, being Craig Campbell, Joseph Leeder, Andrew Coles, Stewart Lyons, Carol Osler, Elizabeth Cynthia Tripp and Sam Duboc, will hold office until the next annual meeting of the Company or until their earlier resignation or removal.
“I would like to thank Mr. Leland Verner for his 16 years of dedication to the company and shareholders including his service as Chair of the Board. I am also appreciative of his personal guidance over the last 18 months. We wish Mr. Verner nothing but success in all future endeavours," said Craig Campbell, CEO and Director of Avante Logixx.
“I am very pleased to announce that Mr. Drew Coles has been appointed Chairperson of the Board of Directors,” said Craig Campbell. Mr. Coles joined the Board in December 2017.
The company is also pleased to welcome Mr. Sam Duboc as the newest member of the Board of Directors. Mr. Duboc is currently Chair and CEO of MindBeacon Health Group. Some of Mr. Duboc’s other professional experience can be highlighted as a co-founder of EdgeStone Capital Partners, one of Canada’s largest leading private equity firms, and co-founder of the Loyalty Group Inc (now LoyaltyOne), the parent company of Air Miles Reward Program and past Chair of the Business Development Bank of Canada. “Mr. Duboc is an excellent addition to our Board, his experience in allocating capital and building businesses will be invaluable as we execute on our strategy and planned growth phase. Welcome!” said Drew Coles, Chair.
Further information with respect to the matters considered at the Meeting can be found in the management information circular dated August 19, 2019, which is available under Avante’s issuer profile at www.sedar.com
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. (XX.V) 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.
Avante Logixx Inc.
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, the intention to create a platform capable of supporting a business with significantly greater scale, Avante’s strategic plan, Avante’s intentions to engage in mergers and acquisitions in the near term, Avante’s intentions to identify, acquire and integrate suitable targets for mergers and acquisitions, the ability to achieve operational efficiencies and provide a better overall customer experience, Avante’s run- rate, opportunities to grow Avante’s revenue and Adjusted EBITDA profile, investments in corporate infrastructure, Avante’s ability to execute and integrate larger acquisitions, and the expected trajectory of corporate costs as a percentage of revenue. 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 ability to identify, acquire and integrate suitable targets for mergers and acquisitions, the ability to control corporate costs, and 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.