Aegis arranges non-brokered private placement of common shares

VANCOUVER , Dec. 31 /CNW/ - Aegis Investment Management (Golf), Inc. ("Aegis" or the "Company"), formerly Avian Capital Inc. ("Avian") (AVA-P), announced today a non-brokered private placement of up to 3,000,000 common shares at a price of $0.50 per share, for gross proceeds of up to CDN$1.5 million. The securities issued will be subject to a four-month hold period. The offering is subject to the approval of the TSX Venture Exchange. Proceeds of the private placement are expected to be used for franchise marketing, debt repayment, and general working capital.

The common shares of the Company are expected to commence trading on the TSX Venture Exchange on January 4, 2010 , under the symbol AIM.

About Aegis Investment Management (Golf), Inc.

Aegis currently has one golf training center franchise operating, in Memphis , Tennessee, one Quantum Business Golf Franchise operating in Vancouver , British Columbia, and eight Regional Franchisors operating in the United States , Canada , the Middle East and China . The Company has a total of 225 franchises awarded across their three franchise brands, and have been selected as a Top 50 Franchise in North America for four years in a row.

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.

FORWARD LOOKING INFORMATION

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 - in particular, disclosure of its plan to offer up to 3,000,000 common shares for gross proceeds of up to $1.5 million , and its intentions with respect to the use of the proceeds of the offering are forward-looking statements. 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. In particular, there is no assurance that any or all of the securities offered will be sold. Material factors which could cause actual results or events to differ materially from a conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on 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 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 AEGIS 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."

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For further information: Tom Matzen, President and CEO, Aegis Investment Management (Golf), Inc., Telephone: [phone], Email: [email protected], Website: www.aegisinvestmentmanagement.com, Telecopier: 1-800-416-6325