Avante Logixx Inc.

Canaccord Genuity Acts as Financial Advisor to Avante Logixx Inc. on its Sale to SSC Security Services Corp.

*This transaction officially closed June 1, 2022

Canaccord Genuity is pleased to announce that on February 9, 2022, its client, Avante Logixx Inc. (“Avante”) (TSXV: XX) (OTC: ALXXF), announced that it has entered into a definitive arrangement agreement whereby SSC Security Services Corp. (“SSC”) (TSXV: SECU) (OTCQX: SECUF) has agreed to acquire Avante for a combination of cash and SSC shares. In addition, SSC will assume approximately $9.4 million of Avante’s senior funded debt, which excludes $8.264 million of principal amount of unsecured convertible debentures held by certain subsidiaries of Fairfax Financial Holdings Limited. Canaccord Genuity acted as financial advisor to Avante and provided a fairness opinion to both the Avante board of directors, as well as the special committee thereof.

Pursuant to the terms of the definitive agreement, Avante shareholders will receive: $0.52 per Avante share in cash (“Cash Consideration”), plus 0.4155 of an SSC share for each Avante share (“Share Consideration”). Based on the VWAP of the SSC shares on the TSXV for the 20 trading days ending on February 8, 2022, the Share Consideration has an implied value of approximately $1.23 per Avante share which, when added to the Cash Consideration (together, the “Consideration”), implies a total Consideration of approximately $1.75 per Avante share, or an aggregate equity value of approximately $37.1 million. The Consideration represents a 62% premium to the closing price of the Avante shares on the TSXV as at February 8, 2022 and a 39% premium over the VWAP of the Avante shares on the TSXV based on the 20 trading days ending on February 8, 2022 (in each case, based on the VWAP of the SSC shares on the TSXV for the 20 trading days ending on February 8, 2022).

Avante is a Toronto-based provider of full service, elite security solutions for high-net-worth residential customers, as well as premium security protection for leading enterprise and commercial clients across Canada, through its operating subsidiaries Avante Security Inc. and Logixx Security Inc., respectively.

SSC is a leading provider of physical and cyber security services to corporate and public sector clients across Canada.

The Canaccord Genuity team included Dan Daviau, Barry Goldberg, Mark Silvestre, Kevin Romano, Matthew Wiebe, and Jack Xia from Investment Banking.