AVANTE LOGIXX CEO TO STEP DOWN
TORONTO-Ontario- September 25, 2017 – Trading symbols: TSX – XX.V, OTC – ALXXF
Avante Logixx Inc. (“Avante”) today announced that Chief Executive Officer, Mr. George Rossolatos, informed the Board of his decision to step down to pursue another business opportunity outside the security space. His new role accepted late Friday will only take effect after December 21, 2017, being Mr. Rossolatos’ final day as CEO after serving out the three month notice period set out in his employment agreement. During the notice period, Mr. Rossolatos will continue to serve as a director of Avante and he will assist in ensuring an orderly transition following his departure.
George Rossolatos said about his departure, “this was a very difficult decision for me as it has been a wonderful experience to be part of the Avante team for over seven years and I am proud of the growth of Avante since joining several years back. Revenues are up fourfold, EBITDA is positive and we have over $3 million in cash and continue looking at viable acquisition opportunities in our pipeline. In addition, Avante has developed a proper infrastructure that enables its group of companies to service and support its customers with a focus on maximizing operational efficiencies. I look forward to continuing to help Avante the best I can going forward.”
Leland Verner, Chairman of the Board, stated “on behalf of the Board and the entire team at Avante, I would like to thank George for his significant contributions to Avante over the past seven years and wish him great success in his new role.”
The Board is taking immediate steps to search for, and evaluate, potential successor CEO candidates which may include certain of Avante’s current key executives. A replacement or interim CEO will be announced on or prior to December 21, 2017.
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.
George Rossolatos CEO (416) 923-6984 x200 email@example.com
Leland Verner Chairman (416) 823-7474 firstname.lastname@example.org