VANCOUVER, BC AND MESA, AZ, Feb. 26, 2013 /CNW/ - Asantae Holdings International Inc. ("Asantae" or the "Company") (TSX-V: JVA) announces that, further to its news release dated November 26, 2012, the Company has completed a debt settlement with certain non-arm's length creditors of the Company to settle aggregate indebtedness in the aggregate amount of approximately $124,494 by the issuance of 414,981 common shares (the "Shares") at a deemed price of $0.30 per Share.
In settlement of the outstanding debt, a total of 205,333 Shares were issued to Gainey Consultants, Inc., a company owned by John Reynolds, the Company's Chairman and Director, and 209,648 Shares were issued to Two Kings, LLC, a Company owned by Daniel Lundell, the Company's CEO, COO and Director.
All of the Shares issued pursuant to the debt settlement are subject to a four-camonth hold period expiring on June 21, 2013.
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.
Asantae Holdings International Inc. (www.asantae.com) (TSX-V: JVA) is a producer and marketer of 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 stresses which, 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: Asantae Holdings International, Inc
For further information:
Asantae Holdings International Inc.
Dan Lundell, CEO/COO
10153 E Hampton Ave, Ste 101, Mesa, AZ, 85209 USA
P: 480-278-8712 / F: 480-383-6147