Le Lézard
Classified in: Business
Subjects: FINANCING AGREEMENTS, MISCELLANEOUS

Avante Logixx Announces a $10 Million Acquisition Facility with RBC


TORONTO, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Avante Logixx ("Avante" of the "Company") (TSXV: XX) is pleased to announce that Royal Bank of Canada ("RBC" of the "Bank") has approved credit lines which include an acquisition line in the amount of $10 million to finance future acquisitions, a revolving operating line of $2 million to be used for working capital and general operating requirements, and a Visa facility of $200,000 to cover operating expenses. A formal credit agreement outlining the terms and conditions is being finalized by the Bank and is expected to be signed by the Company in the coming weeks.

"Today's announcement is another significant step forward for Avante's strategic plan," said Craig Campbell, CEO and Director of Avante Logixx. "We consider the security industry to be attractive and highly fragmented; with the support of Canada's largest bank we have made another significant stride towards accelerating the Company's M&A activity. The facility provides us with the flexibility to enhance shareholder returns while limiting dilution."

About Avante Logixx Inc.

Avante Logixx Inc. (TSXV: XX) is a Toronto based provider of technology enabled security solutions. 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.

Craig Campbell
CEO
(416) 923-6984
[email protected]

For media inquiries, please contact:
Kevin Wright
LodeRock Advisors
(647) 459-0423
[email protected]

Forward-Looking Information

All statements in this news 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 frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. 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 Company's expected uses of the funds available under credit facilities and the entering into of the credit agreement.

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 Company being unable to satisfy any conditions that may be required to enter into the credit agreement in a timely manner or at all, 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. 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 as there can be no assurance that the credit agreement will be entered into or on the terms described in this news release or at all.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


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