NEW YORK, NY, Oct. 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- 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. The company provides the following updates to its Shareholders.
While ILUS’ industrial subsidiary, Quality Industrial Corp.(QIND), awaits comments to its S-1 Registration Statement, which have not yet been received, the company has continued to press forward with the business plan for its Public Safety and Renewables subsidiaries. With all terms agreed for its next acquisition, ILUS is in the final stages of the administrative and internal structuring required to complete the deal. It is intended that the acquisition will serve as a Special Purpose Vehicle for expansion of the company’s Public Safety subsidiary, Emergency Response Technologies (ERT).
This week, ERT held several positive meetings in Europe with a global wildfire equipment manufacturer. The subsidiary plans to acquire a majority stake in the wildfire company and the addition of its patented technology, manufacturing capability, and global distribution network are an important component of ERT’s growth plans. ILUS is focused on adding wildfire equipment as well as US manufactured firefighting vehicles and ambulances to ERT’s portfolio, with the goal of uplisting the subsidiary to a National Exchange during the course of 2024.
ILUS confirms that it has agreed a revised payment plan with AJB Capital Investment LLC for repayment of a $1,200,000 convertible promissory note. Under the revised payment plan, the note must be repaid by mid-2024.
Plans remain firmly in place for ILUS to pay a special equity dividend in the form of QIND stock to ILUS Shareholders of record as of the date of QIND’s NYSE American uplisting. The company is prepared to announce details of the dividend upon confirmation of a date for QIND’s planned uplisting.
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
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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
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