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.
About Avidus
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,
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 Avidus Management Group Inc.