The acquired OTC company will be majority owned and controlled by ILUS. Details of the acquisition will be announced at the start of the new year, as transfer agent procedures and new management appointments are currently being completed. The acquired entity, hereafter referred to as Emergency Response Technologies (ERT), will be developed as a Special Purpose Vehicle for the finance and accelerated growth of the Emergency Response assets which are currently owned by ILUS. These assets will be merged into ERT, for a stock consideration, with ILUS retaining control of ERT and reaping the potential benefits of its accelerated expansion.
Following ERT’s acquisition of Emergency Response assets from ILUS, it intends to pay a special equity dividend to ILUS Shareholders and ERT has appointed its own legal counsel with whom it is finalizing the matter. ERT plans to follow the required corporate action process in order to dividend out a substantial amount of “ERT” shares to ILUS Shareholders. The structure of the dividend is such that following its intended payment to ILUS Shareholders, ILUS will retain its controlling interest in ERT.
Following in the footsteps of ILUS’ Industrial subsidiary,
Having been approached, the ILUS management team is currently in discussions regarding a merger with a NASDAQ listed company. Therefore, a non-binding term sheet has been signed with the NASDAQ company for purposes of further exploring the merger opportunity for ILUS or its subsidiaries. Following initial meetings, both parties are currently conducting their due diligence, and should negotiations develop to the point that a deal is deemed probable, announcements will be made accordingly.
On
The raising of bridge finance for QIND and the expansion of ERT with its own funding arrangements in place forms a critical part of ILUS’ structuring in preparation for the new year. The company aims to avoid taking on substantial debt and dilutive funding in 2024, given that its core subsidiaries should be in a position to sustain their own capital requirements. This creates the opportunity for ILUS to start paying down its debt and in this regard, the company hopes to reach suitable agreements with its lenders.
As ILUS focuses on the expansion and uplist of its key subsidiaries, ERT and QIND, the company will be simultaneously disposing of non-core assets without losing its rights, or potential advantages from them as they continue their expansion outside of ILUS. This decision has been made by management so that ILUS should not have to raise capital for businesses which are not critical to its progress or Shareholder value.
ILUS is therefore in discussions to sell non-core assets such as its urban mining business, Replay Solutions, to CGrowth Capital (CGRA). Management’s assessment is that CGRA’s mining business is well aligned for the expansion of Replay Solutions, especially in terms of its skills and current operations, and has the necessary capital for the short to medium-term advancement of Replay Solutions. ILUS therefore plans to sell Replay Solutions to CGRA for stock, which although it will have very little impact in terms of cash on the ILUS balance sheet, it will eliminate the requirement for ILUS to raise capital for Replay Solutions, which the urban mining company will require for its expansion in 2024. However, the stock obtained from the sale of Replay Solutions will have a tangible value to ILUS going forward. As part of the deal, which is in its closing stages, ILUS will retain its rights to Replay Solutions for the US market.
ILUS CEO,
For further information on ILUS, please see its communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
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Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Website: https://ilus-group.com Twitter: ILUS_INTL
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