AVANTE LOGIXX INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

TSXV TRADING SYMBOL: XX

TORONTO, Nov. 11 /CNW/ - Avante Logixx Inc. (TSXV: XX) (the "Corporation") is pleased to announce that it has, subject to final approval from the TSX Venture Exchange Inc. (the "Exchange"), completed the sale of 6,920,000 units ("Units") of the Corporation for gross proceeds of $1,730,000 by way of a non-brokered private placement.  The Units were sold at a price of $0.25 per unit. Each Unit consists of one common share ("Common Share") and one warrant ("Warrant") of the Corporation. Each whole Warrant will entitle the holder to purchase one Common Share at a price of $0.40 during the first 24 months following closing. The securities issued in connection with the private placement will be subject to a four-month hold period under applicable securities laws. The Corporation has, after giving effect to the private placement, 54,568,843 issued and outstanding Common Shares. The proceeds are to be used for, among other things, to fund working capital, ongoing research and development activities and to fund current liabilities.

The Offering was made to "accredited investors" in the Province of Ontario.

About the Corporation

Avante manufactures and markets the innovative Smartboxx™ which provides "anytime, anywhere" true two-way communication. The company is focused on the expanded commercialization of its energy management, security and automation interactive cellular based technology for applications in the utility, property management and telecommunications markets.  Customizable through a variety of plug-an-play modules, including Zigbee, the SmartBoxx™ is a next-generation technology for information monitoring and control services.  Avante also provides premium executive security services using its innovative technologies.

The Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.

FORWARD LOOKING STATEMENTS

Certain statements in this release may constitute forward-looking statements.  Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of The Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

%SEDAR: 00024271E

For further information:

Leland Verner, Chairman, [phone], [e-mail]
George Rossolatos, Co-CEO, [phone], [email protected]