TORONTO, Feb. 21, 2012 /CNW/ - Allegiance Equity Corporation (TSX VENTURE: ANQ) The TSX has given final approval to the purchase by Palm American Investment Inc. of 350,000 common shares of Allegiance Equity Corporation (TSXV:ANQ) at $0.27 per share. The private placement shares are restricted and cannot be sold or transferred until June 30th 2012.
Purpose of Financing
The funds will be used for general corporate purposes and the maintenance of its patents. Allegiance is very fortunate that its partners absorb thew majority of the expenses for research product development regulatory filings and ongoing trials.
Allegiance develops products for mass market opportunities having clearly identified product deficiencies and dissatisfied patients and consumers who suffer widespread diseases and conditions including diabetes, Alzheimer's and Dementia and inflammatory skin conditions. Allegiance then obtains patents, regulatory approvals and licenses these technologies for royalty's upfront fees and royalties. Allegiance's strategy utilizes leading-edge scientific technology to create valuable, proprietary and effective natural treatments, recognized as safe and effective by North American regulatory authorities, at a fraction of the cost and time it takes to develop a prescription drug. Allegiance then obtains patents and regulatory approvals.
Proprietary Technologies and Recent Developments
Allegiance and its partners developed and patented CinGx™ and Relieva™ providing millions of dollars in licensing opportunities. Both products are ready for market and the company is in engaged in negotiations with major potential licensees world-wide.
Allegiance has partnered with DSE Health Solutions Inc. for the marketing of Relieva™ and Nealanders International Inc. for the marketing CinGx™, both world class companies and leaders in their respective industries
Allegiance Equity Corporation recently developed CinGx™, a unique product to treat and prevent Type 3 Diabetes resulting from the impact of Diabetes on brain function.
CinGx™ is a formula combining two extracts which act synergistically to control glucose metabolism, improve cognitive function and simultaneously minimize the risk of developing and treating CVD, diabetes, dementia and Alzheimer's.
CinGx™ is a proprietary additive that enhances the value of any food, beverage or nutritional supplement and can be combined with most other ingredients
Only CinGx™ improves blood glucose metabolism while increasing mental and physical capacity.
Interest of Management
Palm American Investment Inc. will continue to be the controlling shareholder of Allegiance holding 2,060,997 common shares. Palm American Investment Inc. is controlled by David Solomon, Marilyn Bloovol and members of their family
There will be 7,641,087 common shares of Allegiance issued and outstanding.
Additional information relevant to the Company's activities, including the Company's press releases can found on SEDAR at www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept responsibility FOR THE ADEQUACY OR ACCURACY FOR THIS PRESS RELEASE, WHICH HAS BEEN PREPARED BY MANAGEMENT.
Contacts: Allegiance Equity Corporation David Solomon President (416) 630 1221 Email [email protected]
SOURCE Allegiance Equity Corporation