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TORONTO, Apr 25, 2023 – Avante Corp Inc. (TSX.V: XX) (OTC: ALXXF)(“Avante” or the “Company”) would like to respond to the recent misleading claims made by George Christopoulos in his press releases dated March 29, 2023 and April 25, 2023. 

Mr. Christopoulos and his joint actors (the “Dissidents”) are known to the Company and have a history of failed dissident attempts with numerous other issuers, based on self-interested and short-term opportunistic tactics. The misleading attacks against Avante are a further inappropriate attempt to further their self-interested agenda. 

The Avante board of directors (the “Board”) is committed to representing the interests of all of its shareholders. The Board and management of Avante are aligned with the interests of shareholders and in fact hold in excess of 38% of the issued and outstanding shares of Avante.

Avante would like to remind the Dissidents that as part of the strategic review process announced by the Company in 2021, the Company has already engaged in a fulsome sales process which culminated in a change in the management of the Company, renewal of the board of directors and ultimately the sale of Logixx Security Inc. on June 1, 2022.

Since the sale of Logixx Security Inc., Avante has returned to focussing on its core business and developing collateral opportunities in accordance with its business plan. The Company does not respond to rumours or speculation, and though it is open to discussions with its shareholders, it does not provide selective disclosure to any particular shareholder. The Dissidents’ attempts to crowd out the voices of our other shareholders through an aggressive and opportunistic agenda is not conducive to the open dialogue the Board encourages.

Finally, the Board wishes to thank its shareholders for their continued confidence. While each member of the Board, received the approval of over 93% of the votes cast at the last shareholder meeting just a few months ago (other than Mr. Bronfman who was appointed to replace the former Chair after his unfortunate passing), the Board is nonetheless grateful for the numerous, unsolicited expressions of support it has received from shareholders in response to the Dissidents.

Advisors

Norton Rose Fulbright Canada LLP is acting as legal counsel to the Company.

About Avante Corp

Avante Corp Inc. (TSXV: XX) is a Toronto based provider of high-end security services. 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 www.avantecorp.ca and consider joining our investor email list.

Emmanuel Mounouchos
Founder, CEO & Board Chair, Avante Corp Inc.
(416) 923-6984
manny@avantesecurity.com

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