Avante Logixx Inc. Announces Notice of Disposition of Common Shares

TORONTO, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Avante Logixx Inc. announces that Emmanuel Mounouchos ("Mounouchos") announces, pursuant to early warning disclosure requirements of National Instrument 62‐103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, disposed of 1,500,000 common shares ("Common Shares") of Avante Logixx Inc. (the "Company" or "Avante") (TSX-V:XX) on August 10, 2017 at a price of $0.33 per Common Share and 500,000 Common Shares on August 23, 2017 at a price of $0.33 per Common Share through the market on the TSX Venture Exchange.Prior to the sale of these Common Shares, Mounouchos had ownership and control of 16,204,455 Common Shares, representing approximately 19.87% of the then issued and outstanding Common Shares of the Company and an aggregate of 150,000 Options (the "Options"). Of this amount, Mounouchos owned, directly or indirectly, 2,004,955 Common Shares and beneficially owned 14,199,500 Common Shares though a trust. As a result of this disposition of Common Shares, Mounouchos reduced his ownership in the Company by 2.45% to approximately 17.42% of the issued and outstanding Common Shares.

Mounouchos sold the Common Shares for investment purposes only. Other than outstanding the Options, Mounouchos has no further rights to acquire any other securities of the Company. Mounouchos may, depending on market and other conditions, increase or decrease his beneficial ownership, control or direction over Common Shares of the Company or other securities of the Company, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

A copy of the Early Warning Report is available at www.sedar.com.

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.

The issuance of this news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.

For more information, please contact

Emmanuel Mounouchos 
Mannymoun@gmail.com (416) 508-3573