Toronto, Ontario, May 06, 2024 (GLOBE NEWSWIRE) — Emmanuel Mounouchos (Mr. Mounouchos) today announced that on March 14, 2024, he acquired 1,000 common shares (Common Shares) of Avante Corp. (Avante) through the facilities of the TSX Venture Exchange, and on March 21, 2024, Mounouchos acquired 6,000 common shares (Common Shares) of Avante through the facilities of the TSX Venture Exchange.

Following the acquisition of the aggregate 7,000 Common Shares, Mr. Mounouchos owns, directly or exercises control or direction over 2,556,890 Common Shares, representing 9.596% on a non-diluted basis; however, assuming the exercise of 800,000 stock options into Common Shares, Mounouchos beneficially owns directly or exercises control or direction over 3,356,890 Common Shares representing 12.23% on a partially diluted basis.

The acquisition of the Common Shares by Mr. Mounouchos occurred through the facilities of the TSX Venture Exchange for investment purposes. Mr. Mounouchos may, in the future, purchase, hold, vote, trade, dispose or otherwise deal in the securities of Avante in such manner as he deems advisable. Mr. Mounouchos is member of senior management and the board of directors of Avante and has no current intention, but may in the future form an intention, with respect to a merger, reorganization or similar corporate transaction involving Avante, a sale of a material amount of assets of Avante, any change in the board of directors or management of Avante, any material change in Avante’s capitalization or dividend policy, any material change in Avante’s business or corporate structure, any change in Avante’s articles or bylaws, any proposal to delist any securities of Avante or to have Avante cease to be a reporting issuer, any solicitation of proxies from security holders or any similar action with respect to Avante.


The early warning report will be filed by Mr. Mounouchos in accordance with applicable securities laws and will be available on Avante’s profile on SEDAR+ at www.sedarplus.ca, or may be obtained directly from Avante by telephoning the contact below or mailing Avante at its head office: 1959 Leslie Street, Toronto, Ontario M3B 2M3.

Company Contact:

Emmanuel Mounouchos, Chief Executive Officer
416-923-6984 x 200

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