NEW YORK, NY, Aug. 08, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — ILUS International Inc. (OTC: ILUS) is a mergers and acquisitions firm focused on acquiring and growing public safety technology-based businesses around the world. The Company confirms settlement of two promissory notes from GPL Ventures, LLC (GPLV), each valued at $500,000. ILUS has also confirmed that it has received additional funding of $5.6 million from RB Capital Partners, Inc. (RBCP) for its next phase of acquisitions.
As previously recorded in his disclosures, the 6e April 28 and 21, 2021e 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 between RBCP and GPLV.
Including the settlement of the GPLV Notes, ILUS received $4.5 million in financing from RBCP. The additional funding is used by the company to continue its expansion, including completing agreed-upon acquisitions. In addition, ILUS’ majority-owned entity, Quality Industrial Corp. (OTCQB: QIND), received $1.1 million in financing from RBCP which was used for a payment of the first tranche of an acquisition in progress. All funding obtained by ILUS has been and will continue to be documented in company filings.
ILUS CEO Nick Link said: “We are pleased to confirm the removal of the GPL debt along with the funding we have received from RB Capital. With the good quality funding available to us, we remain in a very good position to achieve our short and medium term objectives, including the closing of our next phase of already agreed acquisitions. Our reliable financial partners fully support our business and the ambitious growth strategy that we have put in place and will continue to put in place.
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Certain information in this press release contains “forward-looking information,” including “forward-looking 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, (i) the projected financial performance of the Company; (ii) the realization and use of the proceeds of the sale of the shares offered hereunder; (iii) the anticipated development of the Company’s businesses, projects and joint ventures; (iv) execution of the Company’s growth vision and strategy, including with respect to future mergers and acquisitions activity and global growth; (v) the sources and availability of third party funding for the Company’s projects; (vi) the completion of the Company’s projects that are currently underway, under development or otherwise under consideration; (vi) the renewal of current agreements with customers, suppliers and other material agreements of the Company; and (vii) future liquidity, working capital and capital requirements. Forward-looking statements are provided to enable potential investors to understand management’s beliefs and opinions regarding the future so that they can use those beliefs and opinions as a factor in evaluating an investment. These statements are not guarantees of future performance and should not be unduly relied upon. These 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 projections of future performance or results expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this presentation are based on what management of the Company believes to be reasonable assumptions, there can be no assurance that the 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. Readers are 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 nonpublic 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, question and answer sessions, public conference calls and webcasts which may also 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 matters. Information we post on social media may be considered material information. Therefore, in light of SEC guidelines, we encourage investors, the media, and others interested in our business to review the information we post on the following social media and media outlets:
website: https://ilus-group.com Twitter: OTC_ILUS
Note: ILUS Coin is not part of ILUS International Inc (Ilustrato Pictures International Inc), so the public is recommended to follow the correct media channels relating to the public OTC company: ILUS.