AVANTE LOGIXX INC. APPOINTS WADE BURTON TO ITS BOARD OF DIRECTORS
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TORONTO-Ontario, July 18, 2022 (GLOBE NEWSWIRE) —
Avante Logixx Inc. (TSX.V: XX) (OTC: ALXXF) (“Avante” or the “Company”) is pleased to announce that Mr. Wade Burton, has been appointed to Avante’s Board of Directors, effective July 18, 2022.
Wade Burton is President and Chief Investment Officer at Hamblin Watsa Investment Counsel Ltd., in its capacity as investment manager of Fairfax Financial Holdings Limited and certain affiliates thereof (“Fairfax”).
Fairfax beneficially owns and controls (indirectly through its insurance company subsidiaries) 5,297,434 of the issued and outstanding common shares of Avante, representing approximately 19.9% of all issued and outstanding common shares. Mr. Burton was nominated by Fairfax to join the Avante Board of Directors pursuant to Fairfax’s director nomination right in its convertible debenture subscription agreement dated November 13, 2019.
Emmanuel Mounouchos, Chief Executive Officer and Board Chair said “on behalf of the Board of Directors, we are pleased to appoint Wade to Avante’s board. Wade has been active in his role at Fairfax supporting the Company over the last several years and I know that he will provide excellent insight into the capital markets, financing activities and business operations as a board member. I look forward to working with Wade on our company’s board.”
About Fairfax Financial Holdings Limited
Fairfax is a holding company incorporated under the Canada Business Corporations Act which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
The common shares of Avante are held by Fairfax for investment purposes and in the future, it may discuss with management and/or the board of directors any of the transactions listed in clauses (a) to (k) of item 5 of Form F1 of National Instrument 62-103 – The Early Warning System and Related Take-over Bid and Insider Reporting Issues and it may further purchase, hold, vote (if applicable), trade, dispose or otherwise deal in the securities of Avante, in such manner as it deems advisable to benefit from changes in market prices of Avante securities, publicly disclosed changes in the operations of Avante, its business strategy or prospects or from a material transaction of or with Avante.
An early warning report will be filed by Fairfax in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or may be obtained directly from Fairfax upon request from John Varnell, Vice President, Corporate Development at (416) 367-4941.
About Avante Logixx Inc.
Avante Logixx Inc. (TSXV: XX), provides high-end security services through its wholly owned subsidiary, Avante Security Inc., serving residential customers located in Toronto and Muskoka regions of Ontario, Canada. With an experienced team, a focus on customer service excellence and development of innovative solutions, we remain committed to providing our shareholders with exceptional returns. Please visit our website at www.avantelogixx.com.
Emmanuel Mounouchos
CEO and Board Chair
Avante Logixx Inc.
416 923 6984
manny@avantesecurity.com
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