This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Asantae Announces New President, Name Change And Private Placement

VANCOUVER AND MESA, AZ, May 22, 2013 /PRNewswire/ - Asantae Holdings International Inc. (TSX-V: JVA; OTC: ASNHF) (the "Company") is pleased to report several key corporate developments.

Appointment of Douglas Ridley as President The Company is pleased to announce the appointment of Douglas Ridley as President.  Mr. Ridley has previously been an advisor to the Company's Board of Directors and management team during its turn-around that commenced late 2011.  He will assume his new position upon closing of the private placement that is also announced today.

Mr. Ridley has extensive experience in network marketing management both in the sales field and corporate roles, in both private and public companies.  Doug led another network marketing start-up (Quorum International) to $125 million annual sales in less than three years, with $20 million in profit.  More recently he has been instrumental in the turn around of two smaller network marketing companies.  As a successful distributor Doug led a field organization of over 10,000 people that generated $25 million in annual sales volume.

Doug has over 25 years of experience in network marketing and brings a track record of performance, leadership, and demonstrable results.  "We are fortunate to have someone of Doug's talents and abilities as part of the team.  His vast experience both in the highest levels of corporate management and field leadership has allowed everyone from our board members to distributors to know we've positioned ourselves for success," said CEO, Dan Lundell.  He further stated, "We have been pleased with Doug's influence on the company's dramatic improvements over the past year and expect him to have a much greater impact on our growth well into the future as President."

New Company Name Asantae announces that, subject to the approval of the TSX Venture Exchange, the Company will be changing its name to Avidus Management Group Inc. Its new trading symbol will be "AVD."  All other entities and related companies names will remain the same.

Private Placement The Company announces a private placement pursuant to which the Company will issue up to 13,000,000 units (each a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $650,000.

Each Unit will be comprised of one common share and one transferable common share purchase warrant (each a "Warrant") and each whole Warrant will entitle the holder thereof to purchase an additional common share of the Company at an exercise price of $0.10 per share for 36 months from the Closing Date of the Private Placement.

The securities issued in connection with the private placement and any shares issued in connection with the exercise of Warrants will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.  Closing of the private placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs