NEW YORK, NY, April 19, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – ILUS International Inc. (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety, industrial, defense and renewable sectors. Having recently filed strong 2022 annual results and confirmed that its industrial subsidiary, Quality Industrial Corp. (OTC: QIND), is preparing its application for listing on the New York Stock Exchange American (NYSE), ILUS also confirms that it is submitting its application for uplisting to the OTCQB, before moving forward with its own senior exchange listing plans after the uplist of QIND.
As QIND’s majority Shareholder, ILUS has agreed for QIND to be uplisted to the NYSE American. After originally beginning preparation for a senior exchange listing with another advisory firm, ILUS chose to expedite this process and approved QIND’s appointment of Exchange Listing, LLC (Exchange Listing) as Capital Market Advisor for its NYSE American application. Given that extensive progress had been made prior to Exchange Listing’s appointment, ILUS believes that QIND’s uplist remains on track to take place during the summer of 2023. Further information on the successful track record of Exchange Listing and its Founder and CEO, Peter Goldstein, is covered in QIND’s press release regarding the appointment.
While QIND is preparing its NYSE American application, ILUS is now commencing with its application for uplist from the OTC Pink Market to the OTCQB Venture Market, which is the mid-tier of the OTC equity market. ILUS will very soon be submitting its application, with the approval process usually taking four weeks, unless OTC Markets finds reason to deny or delay the application.
ILUS determined that it is not worthwhile for QIND to uplist to the OTCQB due to the expected timeframe of its application to the NYSE American, and the company plans to pursue its own senior exchange listing after the uplisting of QIND, subsequent to a share lock-up opportunity being made available to Shareholders.
“We are excited with the progress that QIND is making towards uplisting to the NYSE American and the value that this adds to ILUS and our Shareholders, including through an expected exponential increase in our ILUS balance sheet and greater access to capital for the execution of our more ambitious growth plans. The planned uplist of ILUS itself to the OTCQB should cement our progress made in becoming fully audited and SEC Reporting and serve to separate our company from many of the more speculative OTC companies,” said ILUS Managing Director, John-Paul Backwell.
“We regard QIND’s uplist to the NYSE American and an ILUS uplist to the OTCQB as waypoints on our path towards an ILUS senior exchange listing. It has been a very busy few months for ILUS behind the scenes and we have made important progress across each of our subsidiaries. Therefore, we will be releasing several positive business progress and subsidiary updates as well as announcements over the coming weeks,” said ILUS CEO, Nicolas Link.
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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 webcasts also 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:
website: https://ilus-group.com Twitter: OTC_ILUS
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