Asantae Announces Results of Annual and Special Meeting
August 15 2012 - 8:00AM
PR Newswire (Canada)
VANCOUVER, Aug. 15, 2012 /CNW/ - Asantae Holdings International
Inc. is pleased to announce the results of the Company's Annual and
Special General Meeting (the "AGM") held on August 14, 2012, in
Vancouver, Canada. The Company is pleased to report that at its AGM
the shareholders approved an ordinary resolution to set the size of
its Board of Directors at four. These directors are: The
Honourable John D. Reynolds, P.C., The Honourable Larry Campbell,
Daniel Lundell and newly appointed Terrel Transtrum. Terrel
Transtrum is an industry expert in network marketing. From
his start with Melaleuca in 1988 as Vice-President of customer
service until now, he has assisted, launched and advised multiple
network companies, and coached CEOs and presidents. Terrel has an
accounting degree from Brigham Young University, law degree from
the University of Idaho, and an LL.M. (Master in Tax Law) from the
University of Miami. Chairman Reynolds said, "Terrel's passion and
commitment to excellence in network marketing, make him a valuable
director and member of the Asantae team. His depth of
experience, contacts and leadership will contribute to the
Company's strategic vision and operational objectives." The Company
also appointed Davidson & Company, LLP, Chartered Accountants,
as its auditor with remuneration to be fixed by the directors. In
addition, at the AGM the shareholders also approved the
continuation of its current share option plan. This is the
only equity compensation plan the Company has which allows for a
maximum issuance of 10% of the total number of issued and
outstanding common shares of the Company (the "Plan"). The
Plan has been established to provide incentive to qualified parties
to increase their proprietary interest in the Company and thereby
encourage their continuing association with the Company. The
Plan also provides that the options will be issued to directors,
officers, employees or consultants of the Company or a subsidiary
of the Company. The Company's Chief Executive Officer and
Chief Financial Officer together will be the Administrator under
the Plan until revoked by resolution of the Board of Directors. The
Company is also pleased to announce that, subsequent to its AGM,
its Board of Directors appointed and/or reappointed the following
Executive Officers: The Honourable John D. Reynolds, P.C. (Chairman
of the Board); Daniel Lundell (Chief Executive Officer and Chief
Operating Officer); and Pamela Egan (Chief Financial Officer and
Corporate Secretary). Having played a key role in the
Company's reorganization in 2011, Timothy F. Transtrum has stepped
down as President to pursue other opportunities. The Company
appreciates his commitment and contribution to the Asantae 2.0
transformation. Tim remains a member of the Company's
advisory board. About Asantae Asantae Holdings International Inc.
(www.asantae.com) is a producer and marketer of innovative
nutritional products through a network of independent distributors
(Asantae Independent Affiliates). Asantae's flagship product
RealW8™ addresses the primary threat to public health in the
industrialized world; overweight and obesity. Asantae's
approach to this threat is based on a body of research related to
the brain chemistry of addiction, chronic low-grade inflammation
and oxidative stresses which, according to scientific and medical
research, are the underlying conditions for most modern epidemic
diseases (obesity, heart disease, diabetes, stroke, some cancers,
etc.). According to Market data Enterprises, Inc., the U.S. weight
loss market alone is estimated at $60.9 billion per year. 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 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. Asantae Holdings
International, Inc CONTACT: CONTACTS:Asantae Holdings International
Inc.Dan Lundell, CEO/COOdanlundell@asantae.com10153 E Hampton Ave,
Ste 101, Mesa, AZ, 85209 USAP: 480-278-8712 / F:
480-383-6147Sequoia Partners Inc.James
Beesleyjames@sequoiapartners.caP: 778-389-7715Adam
Rabineradamr@sequoiapartners.ca P: 604-868-7881
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