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Avante Corp Announces Appointment of Chief Executive Officer and Change to Board of Directors

By January 10, 2018December 27th, 2018No Comments

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TORONTO, Jan. 10, 2018  – Avante Corp Inc. (TSXV: XX)(“Avante” or the “Company”) announced today that Mr. Craig Campbell has been appointed as Chief Executive Officer (CEO) of the Company effective today. Mr. Campbell has also been appointed to the board of directors of the Company (the “Board”). The appointments are subject to regulatory approval.

The appointment of Mr. Campbell as CEO is the culmination of Avante’s review of strategic alternatives previously announced by the Company on October 3, 2017. The Board believes that the execution of the Company’s business plan under Mr. Campbell’s stewardship to be the best path forward for the Company to maximize value for shareholders.

Craig Campbell is the founder and CEO of Resilience Capital Inc., a Toronto-based investment company that invests in stable, profitable operating companies (with a focus on the security industry) that have high growth potential and a sustainable, competitive advantage. Previously, Mr. Campbell was the founder and CEO of Total Security Management (TSM), a provider of full-service security solutions to Canadian financial institutions. Under Mr. Campbell’s stewardship, TSM grew into Canada’s largest privately-held security firm, with almost 3,000 employees. In 2013, Mr. Campbell sold the TSM brand and its Canadian guard services unit to a global protection firm. Mr. Campbell received the Entrepreneur of the Year Award by Ernst & Young in 2004 and, in 2010, he was named one of Canada’s Top 40 Under 40™. Mr. Campbell is an alumnus of Harvard Business School’s Owner/President Management program and is a graduate of the Rotman School of Management’s Director’s Education Program.

The size of the Board has also been increased to seven and, subject to regulatory approval, Mr. Andrew (Drew) Coles has been appointed as an additional director of the Company.

Mr. Coles previously served as the CEO and a trustee of InnVest REIT, a real estate investment trust formerly listed on the Toronto Stock Exchange. As its former CEO, Mr. Coles led the $2.1 billion enterprise value privatization of InnVest REIT, generating a 37% premium between transaction announcement and closing. As part of his previous role with InnVest REIT, Mr. Coles also served as Chairman, Choice Hotels Canada, one of Canada’s largest hotel franchisors. Prior to his role at InnVest REIT, Mr. Coles led the hotel investment management program for Oxford Properties’ luxury hotel portfolio. This portfolio included The Fairmont Banff Springs, Park Hyatt Toronto and other luxury hotels in Canada. Mr. Coles brings strong fiduciary, governance, transactional and public company experience to the Board of Avante.

Mr. Campbell will replace Mr. Rodney Wechsler, who was serving as interim CEO of the Company in addition to his role as Chief Operating Officer (COO) of the Company and will continue with Avante in the capacity of COO. The Board thanks Mr. Wechsler for stepping into the interim CEO role at an important time for the Company.

The Company also wishes to announce that Mr. George Rossolatos has agreed to step down from the Board to make room for the incoming directors. Mr. Rossolatos previously served as the Company’s CEO and has recently commenced a new role with a new employer. The Company thanks Mr. Rossolatos for his significant contributions to Avante during his tenure and wishes him success in his future endeavours.

Mr. Campbell commented: “It is my belief that Avante is a premier physical security and technology company with significant potential for shareholder value, which belief drove my initial investment in the Company. I look forward to working with the board and management of the Company to continue to build upon Avante’s successes for the benefit of all shareholders.”

Leland Verner, Avante’s Chairman, commented: “On behalf of the Avante Corp Board of Directors, I am very pleased to welcome both Craig Campbell and Drew Coles as our newest members. With his appointment today, Craig becomes our third CEO since Avante was founded in 1996. He is an experienced executive with a strong and diverse background in our industry and we are excited by his commitment to continue our business acquisition strategy.”


About Avante Corp

Avante Corp Inc. (XX.V) is a Toronto based provider of technology enabled security solutions. We acquire, manage and build industry leading businesses which provide specialized, mission-critical solutions that address the needs of our customers. Our businesses continuously develop innovative solutions that enable our customers to achieve their objectives. With an experienced team and a proven track record of solid growth, we are taking steps to establish a broad portfolio of security businesses to provide our customers and shareholders with exceptional returns. Please visit our website at and consider joining our investor email list.

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All statements in this news release, other than statements of historical fact, may constitute “forward looking information” with respect to Avante within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. This forward-looking information includes statements with respect to, among other things, the effective date of the consolidation of the Common Shares.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward looking information, including, without limitation, the Company being unable to complete the steps necessary to cause the consolidation to occur on the timelines stated in this news release and the risks identified in Avante’s Management Discussion & Analysis, Annual Information Form and other continuous disclosure, which list is not exhaustive of the factors that may affect any of Avante’s forward-looking information. In connection with the forward-looking statements contained in this and subsequent press releases, Avante has made certain assumptions about its business and the industry in which it operates and has also assumed that no significant events occur outside of Avante’s normal course of business. Although management believes that the assumptions inherent in the forward-looking statements are reasonable as of the date the statements are made, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein. Avante’s forward-looking information is based on the beliefs, expectations and opinions of management on the date the statements are made, and Avante does not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking information as there can be no assurance that the credit agreement will be entered into or on the terms described in this news release or at all.

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