CRAIG CAMPBELL UPDATES MARKET IN RESPECT OF AVANTE LOGIXX INC. HOLDINGS

TORONTO, Jan. 12, 2023 /CNW/ - (TSXV: XX)  –  This news release relates to the common shares (the "Common Shares") of Avante Logixx Inc. ("Avante" or the "Company"). Craig Campbell announces that on October 19, 2022, Resilience Security Partners LP ("Resilience LP") through Resilience Security Partners GP Inc. in its capacity as general partner (the "General Partner"), distributed 2,726,100 Common Shares of Avante held by it as a return of capital (the "Distribution") in connection with the anticipated dissolution and wind-up of Resilience LP. Resilience LP is controlled by Mr. Campbell by virtue of his control over the General Partner, which is wholly-owned by Mr. Campbell.

Prior to the Distribution, Mr. Campbell owned and controlled 294,500 Common Shares in his personal capacity and 60,000 Common Shares through Resilience Special Partner Inc. ("Special Partner"), a corporation wholly-owned by Mr. Campbell. Mr. Campbell also exercised control over 2,726,100 Common Shares held by Resilience LP. Prior to the Distribution, Resilience LP owned and controlled a total of approximately 10.3% of the issued and outstanding Common Shares and Mr. Campbell owned and controlled a total of approximately 11.6% of the issued and outstanding Common Shares (based on 26,489,438 Common Shares outstanding as disclosed in the Company's management discussion and analysis for the three and six month period ended September 30, 2022).

Following the Distribution, Resilience LP owns and controls nil Common Shares representing nil percent of the issued and outstanding Common Shares, and Mr. Campbell's ownership and control has decreased to less than 10% of the issued and outstanding securities of the Company. 1,092,560 Common Shares were distributed to Mr. Campbell by Resilience LP (through a transfer to Special Partner) as part of the Distribution. Mr. Campbell continues to own and control an aggregate of 1,447,060 Common Shares (comprised of the 294,500 Common Shares held by Mr. Campbell in his personal capacity, and 1,152,560 Common Shares held by Special Partner), or 5.5% of the Company's issued and outstanding Common Shares. Mr. Campbell's securityholding percentage is now below the reporting threshold prescribed by applicable securities laws. Resilience LP transferred the Common Shares it held in the Company as a return of capital to its limited partners and as such it did not receive any consideration for the Common Shares.

Mr. Campbell continues to evaluate his holdings in the Company, including potentially disposing of additional securities in the ordinary course of business, but has no current plan or intentions which relate to any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws. Depending on market conditions, Mr. Campbell's view of the Company's prospects and other factors Mr. Campbell considers relevant, Mr. Campbell may acquire securities of the Company from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of its securities of the Company.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Company is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Company's documents on the System for Electronic Document Analysis and Retrieval at www.sedar.com. The Company's head office is located at 1959 Leslie Street, Toronto, Ontario M3B 2M3.

SOURCE Craig Campbell

For more information or to obtain a copy of the Early Warning Report, please contact: Craig Campbell at 416-727-8416.