Avante Logixx Expands its Commercial Security Footprint With the Acquisition of Veridin Systems Canada Inc.

Not for distribution to U.S. news wire services or for dissemination in the United States

TORONTO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Avante Logixx Inc. XX ("Avante" or the "Company") is pleased to announce that it has acquired all of the outstanding shares of Veridin Systems Canada Inc. ("Veridin") pursuant to a share purchase agreement dated September 17, 2018 ("Agreement") with 1245893 Ontario Inc. ("1245893") and Vision Dynamics CCTV Inc. ("Vision" and together with 1245893, the "Vendors"). Veridin is a highly regarded security systems integrator focused on commercial accounts that provides security systems, access control systems, CCTV systems, video alarm verification and analytics, and alarm monitoring to a nationwide client base and is an excellent strategic fit for Avante.

"I am thrilled to welcome Veridin, its CEO Colin Doe, and his team to the Avante platform. Veridin represents our first true strategic transaction as we leverage our platform to provide exceptional solutions to commercial and national accounts," said Craig Campbell, CEO of Avante Logixx. "Veridin has a very strong reputation and excellent long-term customer relationships and has realized significant revenue growth as a leading provider to the cannabis sector. We are confident that Veridin will be a great addition to the Avante platform as we continue to execute on our strategic plan to become a national leader in technology enabled security solutions."

Veridin is a commercial security systems integrator based in Mississauga, ON, that has a nationwide customer footprint. Veridin's services include security systems, CCTV systems, video alarm verification and analytics, and alarm monitoring. Avante management expects that the acquisition will have an immediately accretive financial impact and aligns extremely well with Avante renewed strategic vision. Avante plans to leverage the collective networks of both companies to grow business focused on multi-site national accounts. As Avante continues to expand this service offering, Veridin's access to tightly controlled product lines will be strategically important to our ability to compete for and service enterprise level accounts. Veridin generated approximately $5.0 million of revenue in the past twelve months for the period ended Sept 3, 2018.

Veridin's CEO, Colin Doe, will remain as President of Veridin. Pursuant to the Agreement, a portion of the purchase price was satisfied by the issuance of 1,190,476 common shares in the capital of the Company (the "Shares") to 1245893. Such Shares have a deemed value of $500,000 based on the volume-weighted average trading price of the Shares on the TSX Venture Exchange for the 10 trading day period ended September 14, 2018.

Insidus Capital acted as financial advisor for the Vendors regarding this transaction.

The proposed transaction is arm's length and no advisory fees are payable or to be paid by the Company in connection with the transaction.

About Avante Logixx Inc.

Avante Logixx Inc. XX is a Toronto based provider of technology enabled security solutions. We acquire, manage and build industry leading businesses which provide specialized, mission-critical solutions that address the needs of our customers. Our businesses continuously develop innovative solutions that enable our customers to achieve their objectives. With an experienced team and a proven track record of solid growth, we are taking steps to establish a broad portfolio of security businesses to provide our customers and shareholders with exceptional returns. Please visit our website at www.avantelogixx.com and consider joining our investor email list.

Avante Logixx Inc.

Forward-Looking Information

All statements in this press release, other than statements of historical fact, may constitute "forward looking information" with respect to Avante within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or a variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. This forward-looking information includes statements with respect to, among other things, discussions of future plans and forecasts and statements as to management's expectations and intentions with respect to the Company's acquisition of Veridin and the expected financial impact of such acquisition.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward looking information, including, without limitation, the Company realizing on the anticipated value of the acquisition of Veridin, the Company maintaining its projected growth, general economic conditions or conditions in the financial markets and the risks identified in Avante's Management Discussion & Analysis, Annual Information Form and other continuous disclosure, which list is not exhaustive of the factors that may affect any of Avante's forward-looking information. In connection with the forward-looking statements contained in this and subsequent press releases, Avante has made certain assumptions about its business and the industry in which it operates and has also assumed that no significant events occur outside of Avante's normal course of business, including assumptions made about the business of Veridin and the Company's ability to leverage their collective networks. Although management believes that the assumptions inherent in the forward-looking statements are reasonable as of the date the statements are made, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein. Avante's forward-looking information is based on the beliefs, expectations and opinions of management on the date the statements are made, and Avante does not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.