Asantae Announces Private Placement and Debt Settlements
November 16 2011 - 9:01AM
Marketwired
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.
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
Avidus Management Group, Inc. (TSXV:JVA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Avidus Management Group, Inc. (TSXV:JVA)
Historical Stock Chart
From Sep 2023 to Sep 2024