VANCOUVER, BC and
MESA, AZ, Sept. 19, 2013 /CNW/ - Avidus Management Group
Inc. ("Avidus" or the "Company") (TSX-V: AVD, OTC: ASNHF) is
pleased to announce a non-brokered private placement (the "Private
Placement") of up to 3,333,333 units of the Company (each a "Unit")
at a subscription price of $0.15 per
Unit, for gross proceeds of up to $500,000, 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.
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.).
This news release may contain forward-looking statements
relating to the Company's operations or to the environment in which
it operates. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict and may be beyond the Company's control. A number of
important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements,
including those set forth in the Company's regulatory filings. In
addition, such statements relate to the date on which they are made
and the Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be
required by applicable securities laws.
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.
SOURCE Avidus Management Group Inc.