VANCOUVER, BC and MESA, AZ, Sept. 19, 2013 /CNW/ - 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
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,
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.
For further information:
For further information respecting the Company please contact:
Avidus Management Group, Inc.
Dan Lundell, CEO/COO
10153 E Hampton Ave, Ste 101, Mesa, AZ, 85209 USA
P: 480-278-8712 / F: 480-383-6147
Sequoia Partners Inc.