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VANCOUVER, BC AND
Feb. 26, 2013 /PRNewswire/ - Asantae Holdings International Inc. ("Asantae" or the "Company") (TSX-V: JVA) announces that, further to its news release dated
November 26, 2012, the Company has completed a debt settlement with certain non-arm's length creditors of the Company to settle aggregate indebtedness in the aggregate amount of approximately
$124,494 by the issuance of 414,981 common shares (the "Shares") at a deemed price of
$0.30 per Share.
In settlement of the outstanding debt, a total of 205,333 Shares were issued to Gainey Consultants, Inc., a company owned by
John Reynolds, the Company's Chairman and Director, and 209,648 Shares were issued to Two Kings, LLC, a Company owned by
Daniel Lundell, the Company's CEO, COO and Director.
All of the Shares issued pursuant to the debt settlement are subject to a four-camonth hold period expiring on
June 21, 2013.
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.