TORONTO, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Avante Logixx Inc. (TSXV:XX) (“Avante” or the “Company”) announced today that, effective October 30, 2017, it granted, following its compensation review, options to acquire an aggregate of 375,000 common shares to certain of the directors of the Company at an option price of $0.26 per share subject to the terms and conditions of the Company’s 10% rolling stock option plan approved September 29, 2015 and ratified by shareholders at its recent AGM held September 19, 2017. All options granted to the directors have a term of five years and vest immediately. The Company also granted options to acquire an aggregate of 150,000 common shares to certain executive officers of the Company, at an option price of $0.26 per share. All options granted to the executive officers have a term of five years and vest as follows: (i) 1/3rd vest after the second year anniversary of grant; (ii) an additional 1/3rd vest after the third year anniversary of grant; and (iii) the remaining 1/3rd vest after the fourth year anniversary of the grant. Pursuant to the terms of the Company’s 10% rolling stock option plan, a total of 8,153,205 options are available to be issued. Including the grant of options referenced above, there are 853,205 options currently available to the granted under the terms of the stock option plan.
About Avante Logixx
Avante Logixx Inc. (TSXV:XX) is a Toronto based security, monitoring, system integration and technology company. Its subsidiaries, Avante Security Inc. (www.avantesecurity.com), INTO Electronics Inc., (www.247into.com), City Wide Locksmiths Ltd. (www.citywidelocksmith.ca) and Architronics Limited (www.architronics.com) 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 www.avantelogixx.com and consider joining our investor email list.
Avante Logixx Inc.
Leland Verner
Chairman
(416) 923-6984 x211
leland@avantelogixx.com
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), 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.
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.