SOURCE: Asantae Holdings International Inc.

Asantae Holdings International Inc.

November 16, 2011 09:01 ET

Asantae Announces Private Placement and Debt Settlements

VANCOUVER, BC--(Marketwire - Nov 16, 2011) - Asantae Holdings International Inc. (TSX-V: JVA) ("Asantae" or the "Company") 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-half of one transferable common share purchase warrant (each a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase an additional common share of the Company at an exercise price of $0.25 per common share for a period of 18 months from the date of issue.

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.

In connection with the Private Placement, Asantae advises that it intends to settle outstanding indebtedness of up to $400,000 through the issuance of Units at a deemed price of $0.15 per Unit, subject to the approval of the Exchange.

Asantae also confirms that the Company will not be closing any further tranches on its private placement previously announced on August 24, 2011.

In addition, Asantae announces that it has issued promissory notes in respect of loans in the aggregate of $127,500, including an aggregate $72,500 borrowed from certain directors of the Company. Pursuant to the terms of the promissory notes, the loans are for a term of one year and subject to 12% interest. Subject to the approval of the Exchange, the Company will also issue up to 212,500 bonus shares in consideration for the loans.

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 Asantae

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.

Contact Information

  • For further information respecting the Company please contact:

    Daniel Lundell
    CFO/COO
    10153 E Hampton Ave, Ste 101
    Mesa, Arizona, 85209 USA
    Phone: 480-278-8712
    Fax: 480-383-6147