Rising Public Company Completes Private Placement
March 08 2013 - 12:00PM
Access Wire
Allegiance Equity Corporation receives
approval
TORONTO - The Toronto Stock Exchange (TSX) gives final approval
for the sale of 823,900 shares of Allegiance Equity Corporation
(TSXV: ANQ) (Allegiance) at $0.15 by way of private placement,
resulting in $123,585 in funding.
The funding will service the following purposes:
- To assist in the commercialization and promotion of
Allegiance’s latest proprietary technology CinG-XTM, including the
implementation of a celebrity based marketing program, and to
capitalize on new opportunities
- To maintain ongoing administrative and operational
expenses
Details of Private Placement:
Palm American Investments Inc. purchased 233,333 common shares; Dr.
Melvin Goldberg purchased 80,000 common shares; and George Anthony
Warburton purchased 510,567 common shares at $0.15 per share. The
shares are restricted and carry the following legend:
WITHOUT PRIOR WRITTEN APPROVAL OF THE EXCHANGE AND COMPLIANCE
WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SHARES MAY NOT BE
SOLD, WITHOUT PRIOR WRITTEN APPROVAL OF THE EXCHANGE AND COMPLIANCE
WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SHARES MAY NOT BE
SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH
THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA
OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL JULY 15TH,
2013.
Interest of Management:
There are presently 9,264,487 common shares and 700,000 share
purchase warrants of Allegiance issued and outstanding. Palm
American Investment Inc. currently holds 2,443,830 common shares
and 700,000 share purchase warrants of Allegiance and is controlled
by David Solomon and Marilyn Bloovol, both are directors and
officers. Dr. Melvin Goldberg is also a director of
Allegiance. All purchasers of the Private Placements are insiders
of Allegiance.
Additional information relevant to Allegiance’s activities,
including Allegiance’s press releases, can found on SEDAR at
www.sedar.com
About Allegiance Equity Corporation:
Allegiance Equity (TSXV: ANQ) is a public company that develops
unique standardized mass-market products for the treatment of
common diseases where present pharmaceutical treatments and Over
the Counter (OTC) products fail to meet the needs of patients.
Allegiance targets markets having clearly identified product
deficiencies and dissatisfied consumers afflicted with common
diseases and conditions including Alzheimer's, dementia, diabetes
and inflammatory skin conditions, Allegiance obtains regulatory
approval and patents for these unique compounds and formulations,
for licensing, and royalty revenues.
http://www.allegianceequity.com/
About CinG-XTM:
CinG-XTM is a combination of standardized extracts acting
synergistically to control glucose metabolism, improve cognitive
function and reduce the risk of developing conditions associated
with blood glucose metabolism and brain function. CinG-XTM
has been approved by Health Canada and Master File
OF12-21-26454-MF001 supports its claims. International PCT Patent
Examiner has favourably reviewed CinG-XTM claims under the
Publication No. WO 2010/048705.
http://www.cingx.com/
For further information please contact:
David Solomon, President and CEO
davidsolomon@allegianceequity.com
(416) 630-1221
(647) 271-7208
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY FOR THIS PRESS RELEASE,
WHICH HAS BEEN PREPARED BY MANAGEMENT.
(TSXV:ANQ)
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