Avidus announces non-brokered private placement
VANCOUVER, BC and MESA, AZ, Sept. 19, 2013 /PRNewswire/ - Avidus Management Group Inc. ("Avidus" or the "Company") (TSX-V: AVD, OTC: ASNHF) is pleased to announce a non-brokered private placement (the "Private Placement") of up to 3,333,333 units of the Company (each a "Unit") at a subscription price of $0.15 per Unit, for gross proceeds of up to $500,000, subject to the approval of the TSX Venture Exchange (the "Exchange").
Each Unit will be comprised of one common share in the capital of the Company and one transferable common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder thereof to purchase an additional common share of the Company at an exercise price of $0.20 per common share for a period of five years from the date of issue; provided, however, that the Company will be entitled to accelerate the expiry date of the Warrants to the date that is 10 days following the date that the Company provides notice to holders that the closing price of the common shares on the Exchange has been equal to or greater than $0.45 for ten consecutive trading days prior thereto.
Finder's fees may be payable in connection with the completion of the Private Placement in accordance with Exchange policies. The net proceeds of the Private Placement are expected to be utilized by the Company for general corporate and working capital purposes.
Avidus Management Group Inc. (TSX-V: AVD, OTC: ASNHF) through its wholly owned subsidiary, Asantae, Inc. (www.asantae.com) develops, produces and markets innovative nutritional products through direct and network marketing channels. The ingredients in Asantae's products have been shown to reduce chronic low-grade inflammation and oxidative stress, and support a healthy immune system that, according to scientific and medical research, are the underlying conditions for most modern epidemic diseases (diabetes, heart disease, obesity, stroke, etc.).
This news release may contain forward-looking statements relating to the Company's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond the Company's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in the Company's regulatory filings. In addition, such statements relate to the date on which they are made and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Avidus Management Group Inc.