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,
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.