Business
Avante Logixx Inc. Announces Repricing of Stock Options
TSXV TRADING SYMBOL: XX TORONTO, Dec. 20, 2011 /CNW/ - (TSX-V: XX) Avante Logixx Inc. (...
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\n\n\nTSXV TRADING SYMBOL: XX\n\n\nTORONTO, Dec. 20, 2011 /CNW/ - (TSX-V: XX) Avante Logixx Inc. (\"Avante\"\n or the \"Corporation\") today announced that it plans to re-price an\n aggregate of 3,145,000 outstanding employee options to acquire Common\n Shares of the Corporation having exercise prices between $0.19 and\n $0.40 with expiry dates between January 2013 and September 2015 (the\n \"Options\"). The Options will be re-priced at $0.10 per share which is\n the lowest price permitted by the policies of the TSX Venture Exchange\n Inc. (the \"Exchange\").\n\n\nThis re-pricing was initiated and approved by independent members of\n Avante's board of directors, whose options are excluded from this\n repricing initiative.  2,300,000 of the Options are held by George\n Rossolatos, the Co-Chief Executive Officer and a director of Avante\n while 100,000 of the Options are held by Raghu Sampath, the Chief\n Financial Officer of Avante.\n\n\nIn accordance with Exchange policies, the re-pricing of any options held\n by Insiders of a company is subject to disinterested shareholder\n approval.  Accordingly, disinterested shareholders of the Corporation\n will be asked to approve the re-pricing of the Options granted to Mr.\n Rossolatos and Mr. Sampath at a special meeting of shareholders of\n Avante to be held on January 26, 2012.\n\n\nAbout Avante Logixx Inc.\n\n\nAvante Logixx Inc. (TSX-V: XX) is a Toronto based security and\n technology company. Its primary operating subsidiary, Avante Security\n Inc. (www.avantesecurity.com), provides best in class security response and other executive security\n services for residential and commercial applications as well as being\n an industry leader in designing and installing complex security\n systems, access control, and video analytics.  The company continuously\n develops innovative products and applications within its core\n competencies.  Please visit www.avantelogixx.com .\n\n\nAdditional information relating to Avante is available on SEDAR at www.sedar.com and on the Company's website at www.avantelogixx.com.\n\n\nPlease join our email list for company news at www.avantelogixx.com\n\n\nThe TSX Venture Exchange Inc. has not reviewed and does not accept\n responsibility for the adequacy or accuracy of this release. The TSX\n Venture Exchange Inc. has in no way pas...