Avidus announces increase to non-brokered private placement
VANCOUVER, BC and MESA, AZ, Oct. 11, 2013 /CNW/ - Avidus Management Group Inc. ("Avidus" or the "Company") (TSX-V: AVD, OTC: ASNHF) is pleased to announce an increase to its non-brokered unit private placement previously announced on September 19, 2013 from $500,000 to $750,000. The Company will issue up to 5,000,000 units (each, a "Unit") at a purchase price of $0.15 per Unit (the "Private Placement"), 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.
The company also reports the exercise of 2,157,500 common share warrants in the preceding 60 days, each with an exercise price of $0.10.
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.
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.).
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 listing and trading of the Company's common shares on the Exchange. 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.For further information:
respecting the Company please contact:
Daniel Lundell, CEO/COO
10153 E. Hampton Ave., Suite 101
Mesa, AZ 85209
P: 480-278-8702 / F: 480-907-2641
Sequoia Partners Inc.