AVANTE CORP RESPONDS TO DISSIDENT SHAREHOLDER; ENCOURAGES SHAREHOLDERS TO VOTE AT UPCOMING ANNUAL MEETING
14 10월 2023 - 1:09AM
Avante Corp. (TSX.V: XX) (“Avante”
or the “Company”) would like to respond to the
recent misleading statements made by George Christopoulos in his
press release dated October 11, 2023.
Mr. Christopoulos and his joint actors (the
“Dissidents”) are known to the Company and have a
history of failed dissident attempts with numerous other issuers,
based on self-interested and short-term opportunistic tactics. The
misleading attacks against Avante by the Dissidents are a further
inappropriate attempt to further their self-interested agenda.
The Avante board of directors (the
“Board”) is committed to representing the
interests of all of Avante’s stakeholders. The Board is made up of
five directors, all of whom (other than the CEO) are independent of
the Company and all of whom (other than Mr. Bronfman who was
appointed to replace Mr. Verner after his unfortunate passing) were
elected by the shareholders at the last annual meeting of
shareholders. As investors, each member of the Board is aligned
with the interests of shareholders in ensuring the success of
Avante.
The Board of Avante has only recently finalized
the compensation package for senior management, which includes the
long-term incentives disclosed in the Company’s most recent
quarterly statements and the management information circular filed
in connection with its upcoming annual meeting on October 24, 2023.
Other than stock options, the compensation package for senior
management does not involve the issuance or potential issuance of
securities of the Company, does not result in dilution to
shareholders and aligns management incentives with those of
shareholders.
Since the sale of Logixx Security Inc., Avante
has returned to focussing on its core business and developing
collateral opportunities in accordance with its business plan.
Avante recently announced its investment in North Star Support
Group as well as the launch of the Avante Argus app, strengthening
both its client base and its service offerings.
Avante’s strong balance sheet and improved net
income year-over-year from a loss of 4.4M in 2022 to 32K profit in
2023 are a testament to the turnaround and the hard work and
dedication of the Avante management team as it seeks to establish a
broad portfolio of security businesses to provide our customers and
shareholders with exceptional returns.
The Company does not respond to rumours or
speculation, and though it is open to discussions with its
shareholders, it does not provide selective disclosure to any
particular shareholder. The Dissidents’ attempts to crowd out
the voices of our other shareholders through an aggressive and
opportunistic agenda is not conducive to the open dialogue the
Board encourages.
Shareholders are encouraged to review the
disclosure in its management information circular filed on SEDAR+
with respect to the matters to be tabled at the upcoming annual
meeting and encourages shareholders to vote at the meeting.
About Avante Corp.
Avante Corp. (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.avantecorp.ca and consider joining
our investor email list.
Forward-Looking Information
This news release may contain forward-looking
statements (within the meaning of applicable securities laws)
relating to the business of the Company and the environment in
which it operates. Forward-looking statements are identified by
words such as “believe”, “anticipate”, “project”, “expect”,
“intend”, “plan”, “will”, “may” “estimate”, “pro-forma” and other
similar expressions. These statements are based on the Company’s
expectations, estimates, forecasts and projections. The
forward-looking statements in this news release are based on
certain assumptions. They are not guarantees of future performance
and involve risks and uncertainties that are difficult to control
or predict. A number of factors could cause actual results to
differ materially from the results discussed in the forward-looking
statements, including, but not limited to the anticipated growth
and expansion of the Company’s core services, and the list of risk
factors identified in the Company’s Management Discussion &
Analysis (MD&A), Annual Information Form (AIF) and other
continuous disclosure documents available at www.sedar.com. There
can be no assurance that forward-looking statements will prove to
be accurate as actual outcomes and results may differ materially
from those expressed in these forward-looking statements. Readers,
therefore, should not place undue reliance on any such
forward-looking statements. Further, these forward-looking
statements are made as of the date of this news release and, except
as expressly required by applicable law, the Company assumes no
obligation to publicly update any such statement, whether as a
result of new information, future events or otherwise.
Avante Corp.
Emmanuel MounouchosCEO416 923
6984manny@avantesecurity.com
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 (TSXV:XX)
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Avante (TSXV:XX)
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부터 5월(5) 2023 으로 5월(5) 2024