Toronto, Ontario, Sept. 18, 2024 (GLOBE NEWSWIRE) — Emmanuel Mounouchos (the Acquiror) today announced that he has acquired 1,369,894 common shares (Common Shares) of Avante Corp. (Avante) at a price of $0.8228 per Common Share for a total purchase price of $1,127,183.03 in a private transaction.
Following the acquisition of the aggregate 1,369,894 Common Shares, the Acquiror owns, directly or exercises control or direction over 3,936,784 Common Shares, representing 14.77% on a non-diluted basis; however, assuming the exercise of 800,000 stock options into Common Shares, the Acquiror beneficially owns directly or exercises control or direction over 4,736,784 Common Shares representing 17.78% on a partially diluted basis.
The Acquiror acquired the Common Shares for investment purposes and may, in the future, purchase, hold, vote, trade, dispose or otherwise deal in the securities of Avante in such manner as he deems advisable. The Acquiror is member of senior management and the board of directors of Avante and has no current intention, but may in the future form an intention, with respect to a merger, reorganization or similar corporate transaction involving Avante, a sale of a material amount of assets of Avante, any change in the board of directors or management of Avante, any material change in Avante’s capitalization or dividend policy, any material change in Avante’s business or corporate structure, any change in Avante’s articles or bylaws, any proposal to delist any securities of Avante or to have Avante cease to be a reporting issuer, any solicitation of proxies from security holders or any similar action with respect to Avante.
The early warning report will be filed by the Acquiror in accordance with applicable securities laws and will be available on Avante’s profile on SEDAR+ at www.sedarplus.ca, or may be obtained directly from Avante by telephoning the contact below or mailing Avante at its head office: 1959 Leslie Street, Toronto, Ontario M3B 2M3.
Emmanuel Mounouchos
Founder, CEO & Board Chair, Avante Corp
416.923.6984
manny@avantesecurity.com
