(MENAFN- GlobeNewsWire - Nasdaq) NEW YORK, NY, April 21, 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. Having previously signed a first phase investment Project deal with the Serbian government which was delayed due to ILUS concerns following the 2022 Serbian General Election and heightened geopolitical tensions in the region, the Serbian Government has since resolved these concerns, allowing ILUS to negotiate a new and improved Phase 1 deal with the government.
The new first phase deal is expected to secure land and facilities for Replay Solutions and ILUS EV Technologies while returning 35% of the gross salaries of all hires and 25% of all capital expenditure made by the two ILUS entities. Total Investment Project incentives were estimated to be $8 million for ILUS EV Technologies and in the region of $6 million for Replay Solutions.
ILUS CEO, Nicolas Link, will be in Serbia early next week to meet with the government and visit the new shortlisted options for rapidly occupiable land and facilities for the Phase 1 deal and also for meetings regarding the Phase 2 deal, which as a significantly larger deal, requires further evaluation.
“In seeking to develop a more stable long-term partnership with ILUS, the Serbian government has resolved to negotiate an improved opportunity for our subsidiaries in the country. Having already invested so much of our time and effort into our Serbian production strategy due to the vast range benefits that it provides to our group companies, I am very pleased that we are able to move forward with this strategy. Despite pressure from the market, our patient“watch and wait” approach may ultimately pave the way for an improved Replay Solutions and ILUS EV Technologies deal which should further benefit future investment projects that we have planned in the region,” said ILUS CEO, Nick Link.
Following the filing of its Form 10-K Annual Report and confirmation of ILUS' Industrial subsidiary, QIND's planned uplist to the NYSE American, ILUS will be providing updates and/or announcements on the following within the next two weeks:
ILUS Share Lockup and QIND uplist value to ILUS Shareholders Hyperion Defense Solutions Counter IED Agreement ERT Fixed Firefighting (Fire Suppression) Systems production E-Raptor production QIND NYSE American listing application ERT Acquisitions
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