NEW YORK, NY -- February 15, 2022 -- InvestorsHub NewsWire --
ILUS International Inc (OTC:
ILUS) is a Mergers and Acquisitions company focused on
acquiring and developing public safety technology-based companies
across the globe. The company has recently completed several
acquisitions and is in the process of reaching agreements on
several more. ILUS confirmed that it has now recently signed three
funding deals for a total of $15 million, putting the company in a
strong cash position to execute its current plans and move on its
next phase of opportunities.
Following an extensive period of thorough due diligence
conducted by the funders, ILUS secured $15 million of funding from
a syndicate of three funds/family offices who are typically focused
on the funding of high growth technology companies. The three
companies are RB Capital, Discover Fund and Luki Ventures. No
dilution is taking place for the funding, which was secured through
fully repayable, 1-year term, non-toxic promissory notes. The
funding also includes a cash warrant option for a further $6
million, should ILUS require it.
ILUS confirmed that the first two draw down tranches of funding
have already been received with the third tranche being received
next week. The funding will be used by ILUS to expand its
operations, streamline production, ramp up marketing and complete
its next round of acquisitions, where ILUS is focused on the
acquisition of high value technology and its own distribution
channels. In addition, over the next quarter, some of the funding
will be used to remove the GPL Ventures, LLC debt and completely
remove them as a noteholder from the company. Although non-toxic,
the ILUS management understands that Shareholders would have more
comfort knowing that this debt is being removed. ILUS have reached
an arrangement with GPL to settle this debt on suitable terms and
this debt is being settled out of this current phase of
funding.
The first of the three funders, RB Capital, is a well-known and
reputable financier in the OTC and public markets. The company is
known for partnering with emerging companies and supporting them to
refinance on better terms, remove historic toxic debt, and
strengthen their balance sheets.
Brett Rosen, Managing Partner of RB Capital added, “After
meeting with the leadership of ILUS and conducting our due
diligence, it became clear that this was a company we wanted to
invest in. We invest in people and their teams, and Nick is the
type of leader we believe can move the company forward with the
right capital behind him.”
The Discover Fund is a well-known fund in the main board
markets, such as NASDAQ. The company typically writes much larger
cheques than their initial investment in ILUS, however they see the
longer-term value in the company.
Luki Ventures is a lesser-known, small boutique family office
which is particularly active in the private sector. The company,
which has been working closely with ILUS for some time, usually
offers tailored medium to long-term finance in the $5 million
range.
ILUS CEO, Nick Link, commented, “This round of funding is
important primarily because it will drive forward our overall
aggressive growth and acquisition strategy, and because of its
significance in the removal of the GPL debt. We remain focused on
protecting the best interests of our Shareholders and our long-term
sustainability.”
ILUS also confirmed that the first phase of its Southeastern
Europe deal is expected to close in the next week or two, with the
company due to receive substantial subsidies within the next six to
eight weeks. ILUS will be moving into a very large facility
provided by the government. This facility will be used to boost
production of ILUS’ commercial electric vehicle range and for
research and development, particularly for its brand new 2023 EV
range. ILUS will take pre-orders for the new vehicles from May this
year and aims to take orders for in excess of 500 vehicles between
then and December 2022.
This week, the ILUS board is in its quarterly strategy meetings
where it is planning for its next phase of rollout and
implementation, whilst streamlining and approving its next
shortlist of acquisitions to pursue. ILUS is also wrapping up the
paperwork on two previously mentioned deals in the coming days or
week, which means it will have concluded its first phase of deals
for complete manufacturing and distribution capability.
ILUS formally apologises for an error made at its recent Annual
Shareholder’s Meeting when it was mentioned that disclosures were
due today (15 February 2022) when they are due in March 2022 for
the year ending December 2021. ILUS has since confirmed its 2021
revenue, which for its first year of operations was very
impressive.
For further information on the companies, please see their
communication channels:
Website:https://ilus-group.com
Twitter: OTC_ILUS
Contact:
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 webcastsalso 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:
OTC_ILUS
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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