TORONTO, ONTARIO–(Marketwired – Sept. 16, 2015) – Avante Logixx Inc. (TSX VENTURE:XX)(OTCBB:ALXXF)(“Avante” or the “Corporation”) is pleased to report that for corporate and operational efficiencies the Board has resolved to effect certain senior management role changes as described below. George Rossolatos will hold the title of CEO of Avante Logixx Inc. and Emmanuel Mounouchos will hold the titles of President and CEO of Avante Security Inc., the Corporation’s wholly-owned subsidiary. Co-CEO titles for these executives will be relinquished. These management role changes will be effective immediately subject to finalization of the terms of amended employment agreements for the executives. The Board has determined that moving forward with one CEO for Avante Logixx Inc. is in the best interests of the Corporation and allows the Corporation to better advance its financing and acquisitions strategies. The change also permits Mr. Mounouchos to focus on his core competencies, being sales, operations, product innovation and new channel development at the subsidiary level.
Leland Verner, Chairman of the Board, stated, “We are excited about the change in senior management roles as it allows both of our senior executives to focus on their managerial strengths thereby improving operations and realizing further efficiencies. It also reduces any confusion in the marketplace as to the roles of co-CEOs.”
Mr. Rossolatos added, “We continue to be confident about our continued growth of recurring and non-recurring revenues as well as prospects for continuing our acquisition program, and the senior management change contemplated only increases this level of confidence. I look forward to fulfilling my responsibilities as sole CEO for Avante Logixx Inc. including responsibility for executing Avante’s financing and acquisition strategies. I want to thank Mr. Mounouchos and the rest of the Board in showing their faith in my ability to work collaboratively to execute on our business plan.”
Mr. Mounouchos said, “I am pleased with the direction that the Board has taken with respect to senior executive roles. Not burdened with co-CEO responsibilities, I will be able to focus my efforts on sales, operations, product innovations and new channel development for Avante Security Inc., but at the same time be able to participate and provide oversight as a member of the board of Avante Logixx Inc.”
About Avante Logixx (www.avantelogixx.com)
Avante Logixx Inc. (TSX VENTURE:XX)(OTCBB:ALXXF) is a Toronto based security and technology company. Its subsidiaries, Avante Security Inc. (www.avantesecurity.com and www.6minuteresponse.com) and recently acquired INTO Electronics Inc., (www.intoelectronics.com) and LVS Inc. (www.lvssecurity.com), together provide best in class security response and other security services for residential and commercial clients, and high-rise condominium applications, and are industry leaders in designing and installing complex security systems, access control, intelligent video analytics and smart home automation. Its International Travel Security offering helps corporations protect traveling employees working abroad in medium/high risk jurisdictions and has executed travel details in over 60 countries. The company 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.
FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute “forward-looking statements” or “forward-looking information” These statements include, but are not limited to, statements with respect to the entering into of agreements, the closing of transactions and the use of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of transactions, the ability to fulfill certain conditions and obtain regulatory approvals, and the ability to raise funds and use the proceeds as anticipated.
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Avnte Logixx Inc.