Avante Logixx Inc. Announces Results of Annual and Special Meeting
Avante Logixx Inc. Announces Grant of Incentive Options
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/06/16 -- Avante Logixx Inc. ("Avante") (TSX VENTURE: XX)(OTC: ALXXF) is pleased to announce that shareholders have elected Mike Pilato and Rose Baker and re-elected Messrs. Bruce Bronfman, Joseph Leeder, Emmanuel Mounouchos, George Rossolatos and Leland Verner as directors of Avante at its annual and special meeting of shareholders held earlier today. As previously announced on August 8, 2016, Wes De Shane did not stand for re-election and Avante wishes to thank him for his time, efforts and support during his term as a director.
Shareholders also approved all other matters set forth in the Notice of Meeting and Management Information Circular dated August 5, 2016 as follows: (a) the re-appointment of BDO Canada LLP as the auditors of the Corporation; (b) the ratification of Avante''s 10% rolling stock option plan; (c) the fixing of the number of directors of the Corporation at seven (7); and (d) a special resolution empowering the directors to determine from time to time the number of directors of the Corporation, subject to the limitations set forth in the Corporation''s articles and the provisions of the Business Corporations Act (Ontario). Full details of the matters approved at the shareholder meeting are contained in the Notice of Meeting and Management Information Circular dated August 5, 2016 available under Avante''s profile on SEDAR at .
Subsequent to the shareholders meeting, as a result of Mike Pilato and Rose Baker''s election and Mr. De Shane''s departure, the directors re-constituted membership in Avante''s committees as follows:
Corporate Governance and Nominating Committee
Bruce Bronfman (Chair)
Emmanuel Mounouchos
Mike Pilato
Audit Committee
Joseph Leeder (Chair)
Bruce Bronfman
Mike Pilato
Compensation Committee
Rose Baker (Chair)
Bruce Bronfman
Joseph Leeder
Also subsequent to the shareholders meeting, the directors authorized the granting of an aggregate of 525,000 common shares to the directors of the Corporation at an option price of $0.26 per share subject to the terms and conditions of the Corporation''s 10% rolling stock option plan approved September 29, 2015 and ratified by shareholders earlier today. All options granted to the directors have a term of five years and vest immediately. Pursuant to the terms of the Corporation''s 10% rolling stock option plan approved by ratified by shareholders earlier today, a total of 8,138,205 options are available to be issued. Including the grant of options to the directors referenced above, there are 1,558,205 options currently available to the granted under the terms of the stock option plan.
About Avante Logixx ( )
Avante Logixx Inc. (TSX VENTURE: XX) is a Toronto based security, monitoring, system integration and technology company. Its subsidiaries, Avante Security Inc. (), INTO Electronics Inc., (), LVS Inc. (), and the recently acquired City Wide Locksmiths Ltd. () together provide best in class security systems and services for residential and commercial clients, and high-rise condominium applications, with industry leadership in designing and installing complex security systems, access control, intelligent video analytics, high-end lock services and smart home automation. Avante''s group of companies strives to be best in class in each of its verticals including an industry leading rapid alarm response offering combined with alarm system and live video analytics monitoring. Avante''s Executive Services team provides unparalleled end-to-end security solutions for high profile and high net worth families to ensure their safety in a comprehensive yet discrete manner, including an executive transportation option. Avante''s International Travel Security team helps corporations protect traveling employees working abroad in medium/high risk jurisdictions and has executed travel details in over 60 countries. Avante continuously develops innovative products and applications within its core competencies. Please visit our website at and consider joining our investor email list.
FORWARD LOOKING STATEMENTS
All statements in this press release, other than statements of historical fact, are "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 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) 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.
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 release.
Contacts:
Avante Logixx Inc.
George Rossolatos
CEO
(416) 923-6984 x221
Leland Verner
Chairman
(416) 823-7474
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Datum: 06.09.2016 - 14:56 Uhr
Sprache: Deutsch
News-ID 1456393
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