NEW YORK, NY -- May 31, 2024 -- InvestorsHub NewsWire -- ILUS
International Inc. (OTC:
ILUS) is a mergers and acquisitions company focused on
acquiring and growing businesses in the public safety and
industrial sectors. The company recently signed a binding term
sheet with Actelis Networks, Inc. (NASDAQ: ASNS) for ASNS to
acquire its 61% stake in the ILUS Industrial subsidiary, Quality
Industrial Corp (OTC: QIND), subject to customary terms for
closing.
At the closing, Actelis will issue to the sellers 19.99% of its
common stock and preferred non-voting shares for the balance of the
consideration. The companies aim to close the transaction, pending
regulatory requirements and due diligence, within 60 days. The
preferred shares shall not be convertible to common stock before
six months after the closing or until a registration statement is
effective, whichever occurs sooner. The exact number of shares of
the Company to be issued to the sellers will be based on a ratio of
valuations of ASNS and QIND to be determined between the parties
before closing.
After the transaction is completed, QIND will operate as the
industrial subsidiary of ASNS, working alongside Actelis Networks,
Inc. (Actelis), which will function as the technology subsidiary of
ASNS. ASNS will consolidate the financials of both of its
subsidiaries.
ILUS CEO, Nicolas Link, stated, "We believe that the acquisition
of our stake in QIND by Nasdaq-listed ASNS will accelerate the
growth of our Industrial subsidiary as well as ILUS itself.
Following the completion of the transaction, our resultant stake in
ASNS should significantly enhance our ILUS balance sheet and
provide an improved platform for us to raise additional capital for
the expansion of QIND and to complete planned acquisitions. As a
company, should we elect to convert our preferred non-voting ASNS
shares when the option becomes available, we could become the
largest ASNS shareholder. This transaction is aimed at being the
first in a series of transactions intended for the growth of our
businesses and to add substantial value for our Shareholders. Our
unwavering goal has been to uplist our subsidiaries and enhance the
growth of our businesses and this transaction represents a
constructive first step towards reaching that important
milestone."
Actelis is a leading provider of cyber-hardened,
rapid-deployment networking solutions for wide-area IoT
applications. Their solutions cater to various sectors including
federal, state and local government, ITS, military, utility, rail,
telecom, and campus applications. Actelis offers a unique portfolio
of hybrid fiber, environmentally hardened aggregation switches,
high-density Ethernet devices, advanced management software, and
cyber-protection capabilities. Their solutions aim to maximize the
potential of essential networks, providing secure and
cost-effective connectivity for rapid deployment.
QIND is a manufacturer and service provider for the industrial,
oil and gas, and utility sectors. The company is involved in the
design, consultation, supply, installation, and maintenance of
liquefied petroleum gas (LPG) systems. Currently, the company
services nearly 40,000 customers from its 7 operating facilities in
the United Arab Emirates, employing nearly 100 personnel. QIND is
an internationally certified company that provides services to
customers such as Emirates Airlines, Emaar, Government of Dubai,
Dubai Properties, WASL Group, and others.
ILUS and QIND are confident that teaming up with Actelis will
open up new group expansion opportunities. QIND can leverage
Actelis' advanced technology and smart-grid solutions to deliver
remote monitoring, automated delivery, and billing, as well as
real-time forecasting and supply chain optimization. Additionally,
Actelis is expanding its business into new geographical regions
with applications in new, critical verticals such as energy,
utilities, and public safety.
Actelis is also exploring additional synergies with ILUS' public
safety subsidiary, Emergency Response Technologies Inc. ("ERT")
(OTC: SAML), although ERT is not part of the current transaction.
ERT specializes in designing, manufacturing, and supplying patented
firefighting technologies and various solutions for the public
safety sector.
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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