Trading symbol - XX.V
TORONTO, July 2, 2013 /CNW/ - Avante Logixx Inc. (the "Corporation")
announced today that it has received approval from the TSX Venture
Exchange (the "Exchange") to proceed with a normal course issuer bid
(the "Bid") whereby the Corporation may purchase, from time to time, up
to 5,107,495 of its common shares, being approximately 9.1% of the
Corporation's issued and outstanding common shares and approximately
10% of the Corporation's Public Float (as that term is defined in the
policies of the Exchange).
The Bid will be conducted in accordance with applicable securities laws
and the policies of the Exchange. Purchases will be made through the
facilities of the Exchange. Haywood Securities Inc. will conduct the
Bid on behalf of the Corporation.
The price which the Corporation will pay for any shares purchased by it
will be the prevailing market price of such common shares on the
Exchange at the time of such purchase.
The Corporation has not purchased any common shares pursuant to a normal
course issuer bid during the previous 12 months. The Bid will commence
no earlier than three trading days following receipt of approval of the
Exchange and will terminate on one year from such date, or such earlier
time as the applicable Bid is completed or at the option of the
The Corporation believes that the current and recent market prices for
the Corporation's common shares do not give full effect to their
underlying value and that, accordingly, the purchase of common shares
under the Bid will increase the proportionate share interest of, and be
advantageous to, all remaining shareholders. The normal course
purchases will also afford an increased degree of liquidity to current
shareholders who would like to dispose of their shares and will serve
to stabilize the market price for the Corporation's shares.
About Avante Logixx Inc.
Avante Logixx Inc. (TSXV: XX) is a Toronto based security and technology
company. Its primary operating division, Avante Security Inc. (www.avantesecurity.com), provides best in class security response and other security services
for residential and commercial applications as well as being an
industry leader in designing and installing complex security systems,
access control, and video analytics. The company continuously develops
innovative products and applications within its core competencies.
Please visit www.avantelogixx.com.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements,
including statements regarding the conduct of the Bid and Exchange
acceptance of the Bid. These statements are subject to a number of
risks and uncertainties. Actual results may differ materially from
results contemplated by the forward-looking statements. When relying on
forward-looking statements to make decisions, investors and others
should carefully consider the foregoing factors and other uncertainties
and should not place undue reliance on such forward-looking statements.
The Company does not undertake to update any forward looking
statements, oral or written, made by itself or on its behalf, except as
required by applicable law.
Neither the Exchange nor its Regulation Services Provider (as the term
is defined in the policies of the Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE: Avante Logixx Inc.
For further information:
Leland Verner, Chairman, (416) 823-7474, email@example.com
George Rossolatos, Co-CEO, (416) 923-6984 x221, firstname.lastname@example.org