OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Secures$15 Million in Funding From Three Funders
ILUS International Inc (OTC: ILUS) has secured $15 million in funding through three investors, RB Capital, Discover Fund, and Luki Ventures, with no shareholder dilution. The funds will enhance operations, marketing, and help remove existing debt from GPL Ventures. ILUS anticipates significant growth with plans to finalize acquisition deals and boost production of its electric vehicle range with subsidies from a Southeastern Europe deal. The CEO emphasized the funding's importance for aggressive growth and shareholder value.
- Secured $15 million in funding without dilution.
- Funding will be used for expansion, marketing, and debt removal.
- Plans to boost production for a new electric vehicle range.
- Anticipates substantial subsidies from a Southeastern Europe deal.
- None
NEW YORK, NY, Feb. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company has recently completed several acquisitions and is in the process of reaching agreements on several more. ILUS confirmed that it has now recently signed three funding deals for a total of
Following an extensive period of thorough due diligence conducted by the funders, ILUS secured
ILUS confirmed that the first two draw down tranches of funding have already been received with the third tranche being received next week. The funding will be used by ILUS to expand its operations, streamline production, ramp up marketing and complete its next round of acquisitions, where ILUS is focused on the acquisition of high value technology and its own distribution channels. In addition, over the next quarter, some of the funding will be used to remove the GPL Ventures, LLC debt and completely remove them as a noteholder from the company. Although non-toxic, the ILUS management understands that Shareholders would have more comfort knowing that this debt is being removed. ILUS have reached an arrangement with GPL to settle this debt on suitable terms and this debt is being settled out of this current phase of funding.
The first of the three funders, RB Capital, is a well-known and reputable financier in the OTC and public markets. The company is known for partnering with emerging companies and supporting them to refinance on better terms, remove historic toxic debt, and strengthen their balance sheets.
Brett Rosen, Managing Partner of RB Capital added, “After meeting with the leadership of ILUS and conducting our due diligence, it became clear that this was a company we wanted to invest in. We invest in people and their teams, and Nick is the type of leader we believe can move the company forward with the right capital behind him.”
The Discover Fund is a well-known fund in the main board markets, such as NASDAQ. The company typically writes much larger cheques than their initial investment in ILUS, however they see the longer-term value in the company.
Luki Ventures is a lesser-known, small boutique family office which is particularly active in the private sector. The company, which has been working closely with ILUS for some time, usually offers tailored medium to long-term finance in the
ILUS CEO, Nick Link, commented, “This round of funding is important primarily because it will drive forward our overall aggressive growth and acquisition strategy, and because of its significance in the removal of the GPL debt. We remain focused on protecting the best interests of our Shareholders and our long-term sustainability.”
ILUS also confirmed that the first phase of its Southeastern Europe deal is expected to close in the next week or two, with the company due to receive substantial subsidies within the next six to eight weeks. ILUS will be moving into a very large facility provided by the government. This facility will be used to boost production of ILUS’ commercial electric vehicle range and for research and development, particularly for its brand new 2023 EV range. ILUS will take pre-orders for the new vehicles from May this year and aims to take orders for in excess of 500 vehicles between then and December 2022.
This week, the ILUS board is in its quarterly strategy meetings where it is planning for its next phase of rollout and implementation, whilst streamlining and approving its next shortlist of acquisitions to pursue. ILUS is also wrapping up the paperwork on two previously mentioned deals in the coming days or week, which means it will have concluded its first phase of deals for complete manufacturing and distribution capability.
ILUS formally apologises for an error made at its recent Annual Shareholder’s Meeting when it was mentioned that disclosures were due today (15 February 2022) when they are due in March 2022 for the year ending December 2021. ILUS has since confirmed its 2021 revenue, which for its first year of operations was very impressive.
For further information on the companies, please see their communication channels:
Website:https://ilus-group.com
Twitter: OTC_ILUS
Contact:
Email:IR@Ilus-Group.com
Source: ILUS
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