SOURCE: Avidus Management Group Inc.

Avidus Management Group Inc.

January 22, 2016 08:00 ET

Avidus Completes Non-Brokered Private Placement

VANCOUVER, BC and MESA, AZ--(Marketwired - January 22, 2016) - Avidus Management Group Inc. ("Avidus" or the "Company") (TSX VENTURE: AVD) (OTC PINK: ASNHF) is pleased to announce that further to its news release dated December 29, 2015, it has completed its non-brokered private placement (the "Private Placement") which consisted of the sale of 20,433,680 common shares of the Company (the "Shares") at a subscription price of $0.075 per Share for gross proceeds of $1,532,526.

No finder's fee or commission was paid in respect of the Private Placement. The net proceeds of the Private Placement are expected to be utilized by the Company for general corporate and working capital purposes.

All securities issued in connection with the Private Placement are subject to a statutory hold period expiring on May 23, 2016 in accordance with applicable securities legislation.

In addition, Avidus is pleased to announce that it is has entered into a strategic relationship with Arrix, a Utah based network-marketing company with substantial operations in North America, Europe, and Asia (https://ariix.com/). The nature of the relationship includes but is not limited to, network support and supply chain management. 

On behalf of the Board of Directors of

AVIDUS MANAGEMENT GROUP INC.

Dan Lundell,
Chief Operating Officer and Chairman

About Avidus

Avidus Management Group Inc. (TSX VENTURE: AVD) (OTC PINK: 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), AKEA and Truestar.

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 with respect to the Company's anticipated revenues, profitability and the Private Placement. 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 EXCEPT AS REQUIRED BY APPLICABLE LAWS.

Contact Information

  • CONTACT
    Avidus Management Group Inc.
    Dan Lundell
    Chief Operating Officer and Director 
    10153 E Hampton Ave, Ste 101, Mesa, AZ, 85209 USA
    P: 480-278-8702 / F: 480-383-6147