NEW YORK, NY -- April 10, 2024 -- InvestorsHub NewsWire -- ILUS
International Inc. (OTC:
ILUS) is a mergers and acquisitions company that is committed
to acquiring and growing businesses in the public safety,
industrial, defense, and renewable sectors. ILUS has two
subsidiaries, Quality Industrial Corp. (QIND) and Emergency
Response Technologies Inc. (SAML), in which it holds the majority
stake. QIND functions as ILUS' Industrial subsidiary, while SAML
functions as its Public Safety subsidiary.
The ILUS Board of Directors has recently approved the uplisting
of both subsidiaries by reverse merger, following progress in
discussions with National Exchange listed companies. Additionally,
the board has approved the distribution of an equity dividend in
the form of SAML shares to ILUS Shareholders of record on a date to
be defined.
SAML has acquired seven public safety businesses from ILUS, and
the subsidiary is in the process of completing an important new
acquisition to be incorporated into its uplist plans. QIND has
acquired a 51% interest in Al Shola Gas, which delivered nearly $11
million in revenue and $1.8 million in net income in 2023.
Both QIND and SAML are currently in late stages of discussions
with National Exchange listed companies regarding reverse merger
agreements. The parties are progressing with their due diligence,
following which the subsidiaries intend to sign Business
Combination Agreements (BCA) with the respective National Exchange
listed companies. Once the BCAs are signed, the National Exchange
listed companies will file their S-4 Registration Statements, which
will include registration of the QIND and SAML shareholders'
shares. Valuations will be confirmed by fairness opinions
obtained from a team of approved experienced independent financial
experts.
After completion of the two subsidiary uplists, ILUS expects to
complete its own uplist. This current strategy allows ILUS and its
subsidiaries to move to a National Exchange without effecting a
reverse-split and obtain maximum Shareholder value.
ILUS owns 77,669,078 common QIND shares and 150,753,425 common
SAML shares, as well as 350,000 Series B shares converting into
350,000,000 common shares. ILUS also owns 10 million common shares
of a public entity which is expected to soon sign a Letter of
Intent for a Reverse Merger with a NASDAQ listed company in the
very near future.
The ILUS Board believes that it is critical for its subsidiaries
to complete their uplists first in order to obtain maximum value
for ILUS shareholders. This will considerably strengthen ILUS'
balance sheet, allowing ILUS to obtain a substantially more
favorable valuation, which is integral to the success of an uplist.
This follows progress made since the company’s statement made on 29
December 2023, that it had signed a non-binding term sheet with a
NASDAQ company “for purposes of further exploring the merger
opportunity for ILUS or its subsidiaries”.
Having also entered into and continued discussions with
additional National Exchange listed entities, ILUS management has
worked extremely hard to achieve this significant milestone for the
company and its Shareholders and is pleased with the progress
towards delivering this ongoing objective. ILUS remains dedicated
to creating maximum value for its Shareholders and will be making
their respective announcements and providing ongoing shareholder
updates, including timeframes, throughout the respective reverse
merger processes.
While the journey has taken considerably longer than
anticipated, this has not deterred the ILUS management team, and
has in fact allowed the company to execute several strategic moves
which considerably enhance its valuation. ILUS believes it is
essential that moving to a National Exchange creates maximum value
for Shareholders in all the subsidiaries and ultimately at the
parent company level. The company maintains that it will not
compromise on executing its uplists in a stable and robust manner
with the Shareholders best interests in mind, even if this has
meant it has taken a longer period of time.
In a further progress update, the ILUS Board has approved the
payment of a SAML equity dividend to ILUS shareholders of record. A
portion of its SAML Series B shares will be distributed to ILUS
shareholders. The company plans to make an announcement followed by
commencement of the registration process for the equity
dividend.
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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