NEW YORK, NY, Aug. 08, 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 confirms the settlement of two of GPL Ventures, LLC’s (GPLV) Promissory Notes, each to the value of $500,000. ILUS also confirmed that it has received a further $5.6 million in funding from RB Capital Partners, Inc. (RBCP) for its next phase of acquisitions.
As previously registered in its disclosures, on the 6th of April 2021 and 28th of April 2021 respectively, ILUS issued two $500,000 Promissory Notes to GPLV to fund acquisitions and further business expansion. ILUS is now pleased to confirm that both notes have been settled through an agreement reached between RBCP and GPLV.
Including the settlement of the GPLV notes, ILUS has received $4.5 million in funding from RBCP. The additional funding is being used by the company for further expansion, including the completion of agreed acquisitions. Furthermore, ILUS’ majority owned entity, Quality Industrial Corp. (OTCQB: QIND), has received $1.1 million in funding from RBCP which has been used for a first tranche payment for an in-progress acquisition. All funding obtained by ILUS has and will continue to be documented in the company’s disclosures.
ILUS CEO, Nick Link, commented: “We are pleased to confirm the removal of the GPL debt as well as the funding we have received from RB Capital. With the good quality funding we have available to us, we remain in a very strong position to complete our short and medium-term objectives, including the closing of our next phase of already agreed acquisitions. Our reliable financing partners are fully supportive of our business and the ambitious growth strategy which we have been delivering and will continue to deliver.”
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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 webcastsalso 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:
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