ILUS Finalizes Acquisition and Provides Shareholder Update

NEW YORK, NY, Oct. 06, 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. The company has finalized its next acquisition and made exceptional progress across its Public Safety and Renewables subsidiaries, in line with the business plan presented to Shareholders at its last Annual Shareholders Meeting.

ILUS’ Industrial subsidiary, Quality Industrial Corp. (QIND), successfully filed its S-1 Registration Statement on the 19^th of September, 2023. The subsidiary is now awaiting comments from the SEC, following which the Registration Statement will be updated with the underwritten offering. As communicated previously, following effectiveness of the S-1, QIND intends to uplist to the NYSE American. The subsidiary is currently in a quiet period.

As per the business plan presented to Shareholders in January 2023, and following in the footsteps of QIND, ILUS has finalized the acquisition of a company as a Special Purpose Vehicle to roll out the next phase of its subsidiary business plan.

“Over the past few months, our team has been extremely focused on delivering the business plan for our Public Safety and Renewables subsidiaries in particular. Although market conditions have been exceptionally challenging and filing of the QIND S-1 took an immense and lengthy effort by our QIND team, we have nonetheless made vital progress across our businesses and completed several stages of the important negotiations necessary for us to roll out the next chapter of our business plan,” said ILUS Managing Director, JP Backwell.

“We have a broad set of skills and experience on our team, including the likes of Dan Peters and several very experienced and committed team members. Each subsidiary has its own CEO or Managing Director who have continued to work with JP and myself to progress their businesses behind the scenes. No part of our business has been neglected and while some have been at the forefront of news over the past few months, we have ensured that the leadership of each subsidiary has continued to make simultaneous progress. We now look forward to announcing our next strategic acquisition and exhibiting results of the progress made in our businesses,” added ILUS CEO, Nicolas Link.