ILUS Signs Letter of Intent to Acquire a British Manufacturer of Autonomous Vehicles While Completing its Next Phase of Restructuring for Anticipated Growth - Seite 2

Furthermore, ILUS is in discussions with RB Capital regarding the consolidation of its existing promissory notes into one single promissory note. The company believes that the new consolidated note will provide more time and flexibility in repaying the note and prevent further conversions in the short to medium term.

In light of the aforementioned targeted acquisition, further acquisitions which are in negotiation and the restructuring which is underway in preparation for a previously mentioned business combination with a NASDAQ listed company, as well as to prevent any requirement for a reverse split to be conducted, the Board and the Majority Stockholder of ILUS have determined that it is in the best interests of the Company to amend its Articles of Incorporation, to affect an increase in the number of shares authorized common stock from 2,000,000,000 shares at par value $0.001 to 3,500,000,000 at par value $0.001. The Information Statement being filed today is furnished solely for the purpose of informing Shareholders.

ILUS CEO, Nicolas Link, concluded: “We have been working extremely hard with our advisors, attorneys, and auditors to get every aspect of our company structured and aligned for an imminent business combination agreement to be signed. I am currently in the USA with JP Backwell for the final stage of the business combination transaction with the NASDAQ company.  We anticipate that the moves we are currently making will allow us and our Shareholders to realize the significant value that has been created over the past few years.”

For further information on ILUS, please see its communication channels:

Website: https://ilus-group.com

Twitter: @ILUS_INTL

Email: [e-mail]

Source: ILUS

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https://ilus-group.com

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