LAS VEGAS, NV -- June 10, 2025 -- InvestorsHub NewsWire -- Avant
Technologies Inc. (OTCQB:
AVAI) (“Avant” or the “Company”), today announced that it has
entered into a non-binding letter of intent (“LOI”) for a potential
business combination with Ainnova Tech, Inc. (Ainnova). Ainnova,
the Company’s joint venture partner, is a leading healthcare
technology company focused on revolutionizing early disease
detection using artificial intelligence (AI). Ainnova’s technology
portfolio includes its cutting-edge AI-powered platform technology,
Vision AI, several key algorithms, and its proprietary automated
retinal camera, which is currently in development.
Under the terms of the LOI, Avant and Ainnova would become a
combined entity, with Ainnova rolling 100% of its outstanding
equity and equity equivalents - or all its business - into the
combined public company, with the deal structure to be determined
later by the parties based on further due diligence findings and
other considerations.
Avant and Ainnova expect to announce additional details
regarding the business combination when a definitive agreement is
executed, which is expected in late June or early next quarter. Any
transaction would be subject to board and equity holder approval of
both companies, regulatory approvals, and other customary
conditions.
Avant and Ainnova executives believe that now is the time to
strengthen their partnership and merge into a single entity before
the Company’s pre-submission meeting with the U.S. Food and Drug
Administration in early July, in preparation for the planned
clinical trial of Ainnova’s Vision AI platform for early detection
of diabetic retinopathy.
In late 2024, the two companies formed Ai-nova Acquisition Corp.
(AAC) to advance and commercialize Ainnova’s technology portfolio.
During that time, the two companies completed further due diligence
and focused on an opportunity to work together as one company. The
Board of Directors and management team of Avant remain fully
committed to executing the Company’s strategic plan, which is
focused on enhancing long-term value.
Vinicio Vargas, Chief Executive Officer at Ainnova and a member
of the Board of Directors of Ai-nova Acquisition Corp., said of the
business combination, “We believe bringing the two companies
together will offer tremendous value for shareholders, it will
simplify the process of advancing our technology to market, and it
will deliver value to our customers and partners as we promote our
technology portfolio globally.
“We feel the joint venture has been a success and both companies
have worked well together toward a common goal, so we believe that
we can be even more successful and use our resources more
effectively as one company to further AI in healthcare.”
About Ainnova Tech, Inc.
Ainnova is a Nevada-based health tech startup with headquarters
in San Jose, Costa Rica, and Houston, Texas. Founded by an
experienced and innovative team that is dedicated to leveraging
artificial intelligence for early disease detection. Recognized
with multiple global awards and renowned partnerships with
hospitals and medical device companies, we proudly introduce Vision
AI - our cutting-edge platform designed to prevent
blindness and detect the early onset of diabetes. Explore how
Ainnova is revolutionizing healthcare through advanced technology
and proactive solutions.
About Avant Technologies Inc.
Avant Technologies Inc. is an emerging technology company
developing solutions in artificial intelligence in healthcare. With
a focus on pushing the boundaries of what is possible in AI and
machine learning, Avant serves a diverse range of industries,
driving progress and efficiency through state-of-the-art
technology.
More information about Avant can be found at https://avanttechnologies.com
You can also follow us on social media at:
https://twitter.com/AvantTechAI
https://www.linkedin.com/company/avant-technologies-ai
https://www.facebook.com/AvantTechAI
https://www.youtube.com/@AvantTechAI
Forward-Looking Statements
Certain statements contained in this press release may
constitute “forward-looking statements.” Forward-looking
statements provide current expectations of future events based on
certain assumptions and include any statement that does not
directly relate to any historical or current fact. Actual results
may differ materially from those indicated by such forward-looking
statements because of various important factors as disclosed in our
filings with the Securities and Exchange Commission located at
their website (http://www.sec.gov). In addition to these factors,
actual future performance, outcomes, and results may differ
materially because of more general factors including (without
limitation) general industry and market conditions and growth
rates, economic conditions, governmental and public policy changes,
the Company’s ability to raise capital on acceptable terms, if at
all, the Company’s successful development of its products and the
integration into its existing products and the commercial
acceptance of the Company’s products. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date after the date of
the press release.
Contact:
Avant Technologies Inc.
info@avanttechnologies.com
Avant Technologies (QB) (USOTC:AVAI)
Historical Stock Chart
From Jun 2025 to Jul 2025
Avant Technologies (QB) (USOTC:AVAI)
Historical Stock Chart
From Jul 2024 to Jul 2025
