ILUS Completes Acquisition and Provides Dividend, Merger and Subsidiary Update

NEW YORK, NY, Dec. 29, 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 signed contracts to acquire the controlling interest of an OTC listed SEC Reporting company. An update is provided on several matters of importance for Shareholders including the acquisition, an associated dividend for ILUS Shareholders, merger agreement negotiations, subsidiaries, and financing.

The acquired OTC company will be majority owned and controlled by ILUS. Details of the acquisition will be announced at the start of the new year, as transfer agent procedures and new management appointments are currently being completed. The acquired entity, hereafter referred to as Emergency Response Technologies (ERT), will be developed as a Special Purpose Vehicle for the finance and accelerated growth of the Emergency Response assets which are currently owned by ILUS. These assets will be merged into ERT, for a stock consideration, with ILUS retaining control of ERT and reaping the potential benefits of its accelerated expansion.

Following ERT’s acquisition of Emergency Response assets from ILUS, it intends to pay a special equity dividend to ILUS Shareholders and ERT has appointed its own legal counsel with whom it is finalizing the matter. ERT plans to follow the required corporate action process in order to dividend out a substantial amount of “ERT” shares to ILUS Shareholders. The structure of the dividend is such that following its intended payment to ILUS Shareholders, ILUS will retain its controlling interest in ERT.

Following in the footsteps of ILUS’ Industrial subsidiary, Quality Industrial Corp. (OTC: QIND), which effected a name and ticker change in August 2022, ERT also plans to conduct a name and ticker change. ILUS believes that the acquisition will add significant value to its structure and operations, as the acquired entity has its own funding line in place for purposes of expansion, and such access to capital will be non-dilutive to ILUS Shareholders. Therefore, ERT intends to complete a previously mentioned significant acquisition which is already in negotiation, following which it will prepare itself for an uplist to a major stock exchange.