ILUS Signs Letter of Intent to Acquire a British Manufacturer of Autonomous Vehicles While Completing its Next Phase of Restructuring for Anticipated Growth
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NEW YORK, NY, Feb. 20, 2024 (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. On February 16, 2024, the Company signed a letter of intent with a British company which has manufacturing and assembly facilities in the United Arab Emirates from which it manufactures and supplies autonomous vehicles as well as defense and public safety solutions. The definitive agreement is expected to be signed in the first quarter of 2024 and is currently intended to be structured as an equity deal of
The acquisition target is an integrated technology company that designs, develops, and manufactures advanced solutions utilizing proprietary robotics and autonomous systems which are engineered to transform operational capabilities for the defense and security sectors. The company’s groundbreaking proprietary autonomous technology meets NATO standards for operational land, water, and air requirements in its relevant sectors.
The Global Defense market has been estimated to reach over
“This acquisition and those in the pipeline are expected to add incredible value to the ILUS Group. The revenue generating company which services several customers globally has a significant technology valuation and multiple large high probability orders in its pipeline. We are working hard to add further value across the group and are excited to bring in this new deal and others we have been negotiating,” said ILUS Managing Director, John-Paul Backwell.
As previously announced, ILUS acquired control of Samsara Luggage Inc. (OTC: SAML) on January 5, 2024. SAML is currently undergoing a corporate action to change the company name and ticker and it will function as a Special Purpose Vehicle for ILUS’s Emergency Response Technologies (ERT) division. ILUS is currently in the progress of merging its emergency response assets into SAML. Once completed, ILUS will in return receive a stock consideration in SAML of which it intends to dividend out an appropriately proportioned amount of stock consideration to ILUS Shareholders.
Furthermore, ILUS is in discussions with RB Capital regarding the consolidation of its existing promissory notes into one single promissory note. The company believes that the new consolidated note will provide more time and flexibility in repaying the note and prevent further conversions in the short to medium term.
In light of the aforementioned targeted acquisition, further acquisitions which are in negotiation and the restructuring which is underway in preparation for a previously mentioned business combination with a NASDAQ listed company, as well as to prevent any requirement for a reverse split to be conducted, the Board and the Majority Stockholder of ILUS have determined that it is in the best interests of the Company to amend its Articles of Incorporation, to affect an increase in the number of shares authorized common stock from 2,000,000,000 shares at par value
ILUS CEO, Nicolas Link, concluded: “We have been working extremely hard with our advisors, attorneys, and auditors to get every aspect of our company structured and aligned for an imminent business combination agreement to be signed. I am currently in the USA with JP Backwell for the final stage of the business combination transaction with the NASDAQ company. We anticipate that the moves we are currently making will allow us and our Shareholders to realize the significant value that has been created over the past few years.”
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
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
FAQ
What company did ILUS sign a letter of intent with?
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When did ILUS acquire control of Samsara Luggage Inc.?
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