Business
Matiadeka Ventures Inc. announces qualifying transaction with Avante Security Inc.
TORONTO, Feb. 29 /CNW/ - MATIADEKA VENTURES INC. (TSXV:DKA.P) (the "Corporation") made an announc...
About this update from Avante Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Feb. 29 /CNW/ - MATIADEKA VENTURES INC. (TSXV:DKA.P) (the\n"Corporation") made an announcement today, further to its announcements made\nSeptember 27, 2007 and February 12, 2008, concerning its agreement to acquire\nAvante Security Inc. ("Avante"). This acquisition will involve a share\nexchange between Avante and the Corporation and will be the Corporation's\narm's length qualifying transaction (the "Qualifying Transaction") pursuant to\nthe policies of the TSX VentureExchange Inc. (the "Exchange").\n\n\nABOUT AVANTE SECURITY\n\n\nAvante is a private company that was incorporated under the laws of the\nProvince of Ontario on April 9, 1996 with its head office located in Toronto,\nOntario. Avante is engaged in the business of designing, installing and\nmonitoring complex residential and commercial security systems and providing\nalarm response, executive protection and mobile and static guard services in\nthe Greater Toronto Area.\n\n\nAvante has developed proprietary hardware and software for wireless\nsecurity, which provides monitoring for data and video, home automation and\nremote monitoring, demand/response energy management and metering\napplications. Avante's Secure 724 S-WIP is a smart interactive portal module\nthat uses proprietary hardware to convert wired information to a wireless\nformat without the need of a personal computer or server. Secure 724 transmits\ndata in multiple formats to wireless mobile devices and/or PC's. With 724\nS-WIP BlackBerry software, a BlackBerry can remotely control and obtain data\nfrom the 724 S-WIP module installed in a dwelling.\n\n\nThe acquisition of Avante by the Corporation will provide Avante with a\nvehicle to become a public issuer on the Exchange. Each shareholder of Avante\nwill receive shares in the capital of the Corporation in exchange for shares\nheld by them in Avante. It is estimated that upon completion of the Qualifying\nTransaction the shareholders of Avante will hold 29,000,000 shares (73%) and\nthe shareholders of the Corporation will hold 10,750,000 shares (27%).\n\n\nABOUT MATIADEKA VENTURES\n\n\nThe Corporation is classified as a capital pool company pursuant to the\npolicies of the Exchange. The principal business of the Corporation is\nidentifying and evaluating assets or businesses with a view to comple...