Asantae Announces Closing of First Tranche of Non-Brokered Private Placement
September 14 2011 - 4:54PM
Marketwired
Asantae Holdings International Inc. (TSX-V: JVA) ("Asantae" or the
"Company") is pleased to announce it has closed the first tranche
of a non-brokered private placement consisting of 3,361,660 units
(each a "Unit") at a price of $0.15 per Unit for gross proceeds of
$504,249 (the "Offering").
Each Unit is comprised of one common share and one-half of one
transferable common share purchase warrant (each a "Warrant") and
each whole Warrant entitles the holder thereof to purchase an
additional common share of the Company at an exercise price of
$0.25 per share up to and including March 13, 2013.
The securities issued pursuant to the Offering and the shares
issued in connection with the exercise of Warrants, if any, will be
subject to a hold period expiring on January 14, 2012, in
accordance with the policies of the TSX Venture Exchange and
applicable securities laws.
Finder's fees of $27,706 cash have now been paid and 184,706
finder's warrants have now been issued in conjunction with the
first tranche of the Offering. Each finder's warrant entitles the
holder thereof to purchase one common share of the Company at an
exercise price of $0.15 per share up to and including March 13,
2013.
The net proceeds of the Offering will be utilized by the Company
for general corporate and working capital purposes.
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. (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 stress 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:
Tim Transtrum COO 8901 E. Pima Center Parkway, Suite 215
Scottsdale, Arizona, U.S.A., 85258 Phone: 480-278-8715 and Fax:
480-383-6147
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