SOURCE: Avidus Management Group Inc.

Avidus Management Group Inc.

March 12, 2015 09:49 ET

Avidus Completes Shares for Debt Transaction

VANCOUVER, BC and MESA, AZ--(Marketwired - Mar 12, 2015) - 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 January 23, 2015, it has completed a debt settlement with certain arm's length and non-arm's length creditors of the Company to settle aggregate indebtedness in the aggregate amount of $1,956,481.37 by the issuance of 19,564,812 common shares (the "Shares") at a deemed price of $0.10 per Share. 10,744,916 shares were issued to Insiders in conjunction with this debt settlement.

All of the Shares are subject to a statutory hold period expiring on July 12, 2015 in accordance with applicable securities legislation.

Avidus CEO and President said "As announced in January, this shares for debt transaction amounts to a significant reduction in Avidus' current liabilities. Efficiencies created by merging operations of our recently acquired companies coupled with anticipated Q2 sales growth lays the foundation for the Company to achieve its stated goal of profitability.

On behalf of the Board of Directors of AVIDUS MANAGEMENT GROUP INC.
"Doug Ridley"
President, CEO, and a director

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) 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.

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.

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.

Contact Information

  • CONTACTS

    Avidus Management Group Inc.
    Doug Ridley
    CEO/President
    10153 E Hampton Ave, Ste 101
    Mesa, AZ, 85209 USA
    P: 480-278-8702
    F: 480-383-6147

    Sequoia Partners Inc.
    James Beesley
    Email Contact
    P: 778-389-7715