VANCOUVER, BC and MESA, AZ, March 24, 2014 /CNW/ - Avidus Management Group Inc. (TSX-V: AVD; "Avidus" or the "Company") is pleased to announce that it has made the $400,000 payment required under the asset purchase agreement (the "Agreement") with Akea, LLC ("Akea") (www.akealife.com), that was entered into last month. Asantae will now be able to proceed to full integration of the Asantae and Akea sales organizations, product lines and systems.
Avidus' CEO, Doug Ridley, commented, "From the outset, the Akea distributors were extremely energized and motivated and their response to the acquisition has far exceeded our expectations. In the first 30 days, revenues from the Akea side of our business have increased by 17% and we expect to see robust growth from the combined companies in 2014. We are currently reviewing several other targets that have the potential to fit the Avidus acquisition model and we are excited about the outlook for 2014 and beyond."
Bill Bernicki, Akea's COO commented "Our distributors have been energized by the Asantae field leadership and we have already seen significant sales growth with this union. The Fast Track Business Building System has proven to have an immediate positive impact on our distributors and we look forward to continuing to build on this momentum."
Avidus Management Group Inc. (TSXV: AVD, OTC: ASNHF), based in Mesa, Arizona, develops, acquires and operates growth direct sales and network marketing companies in the consumer health and wellness market. Avidus brands include Asantae (www.asantae.com) and Akea (www.akealife.com).
The Avidus leadership team has a combined experience of 100 years in network marketing and direct selling. For more information, visit www.avidusmanagementgroup.com.
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 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 completion of the Acquisition and the private placement of Units. 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:
Avidus Management Group Inc.
Doug Ridley CEO/President
10153 E Hampton Ave, Ste 101, Mesa, AZ, 85209 USA
P: 480-278-8712 / F: 480-383-6147
Sequoia Partners Inc.