NEW YORK, NY -- February 20, 2024 -- InvestorsHub NewsWire --
ILUS International Inc. (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and growing companies in the public safety, industrial,
defense and renewable sectors. On February 16, 2024, the Company
signed a letter of intent with a British company which has
manufacturing and assembly facilities in the United Arab Emirates
from which it manufactures and supplies autonomous vehicles as well
as defense and public safety solutions. The definitive agreement is
expected to be signed in the first quarter of 2024 and is currently
intended to be structured as an equity deal of $3,000,000 with a
mutually agreed leak out agreement which is expected to come into
effect sometime after the intended in-progress business combination
agreement with a NASDAQ company is effective.
The acquisition target is an integrated technology company that
designs, develops, and manufactures advanced solutions utilizing
proprietary robotics and autonomous systems which are engineered to
transform operational capabilities for the defense and security
sectors.? The company’s groundbreaking proprietary autonomous
technology meets NATO standards for operational land, water, and
air requirements in its relevant sectors.
The Global Defense market has been estimated to reach over $718
billion in 2027 although newer data is expected to reflect higher
projected growth due to continued war in Ukraine, increased
geo-political tensions in many regions globally, and an increase in
cyber-terrorism threats. This and several additional factors have
led to increased instability, placing heightened demand on the
defense and security sectors leading to increased growth.
“This acquisition and those in the pipeline are expected to add
incredible value to the ILUS Group. The revenue generating company
which services several customers globally has a significant
technology valuation and multiple large high probability orders in
its pipeline. We are working hard to add further value across the
group and are excited to bring in this new deal and others we have
been negotiating,” said ILUS Managing Director, John-Paul
Backwell.
As previously announced, ILUS acquired control of Samsara
Luggage Inc. (OTC: SAML) on January 5, 2024. SAML is currently
undergoing a corporate action to change the company name and ticker
and it will function as a Special Purpose Vehicle for ILUS’s
Emergency Response Technologies (ERT) division. ILUS is currently
in the progress of merging its emergency response assets into SAML.
Once completed, ILUS will in return receive a stock consideration
in SAML of which it intends to dividend out an appropriately
proportioned amount of stock consideration to ILUS
Shareholders.
Furthermore, ILUS is in discussions with RB Capital regarding
the consolidation of its existing promissory notes into one single
promissory note. The company believes that the new consolidated
note will provide more time and flexibility in repaying the note
and prevent further conversions in the short to medium term.
In light of the aforementioned targeted acquisition, further
acquisitions which are in negotiation and the restructuring which
is underway in preparation for a previously mentioned business
combination with a NASDAQ listed company, as well as to prevent any
requirement for a reverse split to be conducted, the Board and the
Majority Stockholder of ILUS have determined that it is in the best
interests of the Company to amend its Articles of Incorporation, to
affect an increase in the number of shares authorized common stock
from 2,000,000,000 shares at par value $0.001 to 3,500,000,000 at
par value $0.001. The Information Statement being filed today is
furnished solely for the purpose of informing Shareholders.
ILUS CEO, Nicolas Link, concluded: “We have been working
extremely hard with our advisors, attorneys, and auditors to get
every aspect of our company structured and aligned for an imminent
business combination agreement to be signed. I am currently in the
USA with JP Backwell for the final stage of the business
combination transaction with the NASDAQ company. We
anticipate that the moves we are currently making will allow us and
our Shareholders to realize the significant value that has been
created over the past few years.”
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
Related Links
https://ilus-group.com
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. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, considering the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels:
website: https://ilus-group.com
Twitter: ILUS_INTL
Note: ILUS Coin does not sit within ILUS International Inc
(Ilustrato Pictures International Inc), so the public are
recommended to follow the correct Media Channels relating to the
public company OTC: ILUS
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