Avidus completes private placement
VANCOUVER, BC and MESA, AZ, March 4, 2014 /PRNewswire/ - Avidus Management Group Inc. ("Avidus" or the "Company") (TSXV: AVD) (OTC: ASNHF) is pleased to announce that, further to its news release dated February 20, 2014, the Company has completed a non-brokered private placement of 8,044,224 units (the "Units") at a price of $0.10 per Unit for gross proceeds of approximately $804,224 (the "Offering").
Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase an additional common share of the Company at an exercise price of $0.20 per common share for a period of three years from the date of issue. All securities issued in connection with the Offering are subject to a four-month statutory hold period expiring on July 5, 2014 in accordance with the applicable securities legislation.
The Company confirms that neither finders fees nor broker warrants were issued in conjunction with this Offering.
The net proceeds from the Offering will be used to complete the previously announced Akea acquisition and general corporate purposes.
Avidus Management Group Inc. (TSXV: AVD, OTC: ASNHF), based in Mesa, Arizona, develops, acquires and operates growth direct sales and network marketing companies in the consumer health and wellness market. Avidus brands include Asantae (www.asantae.com) and Akea (www.akealife.com).
The Avidus leadership team has a combined experience of 100 years in network marketing and direct selling. For more information, visit www.avidusmanagementgroup.com.
Neither the TSX Venture Exchange nor its Regulations 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.
Forward Looking Statements
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, including the completion of the Acquisition and the private placement of Units. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, the Company's ability to develop new products which will receive market acceptance, to receive market acceptance in new markets outside the United States, to engage and retain qualified key personnel, employees and affiliates, to obtain capital and credit and to protect its intellectual property rights.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
SOURCE Avidus Management Group Inc.