Asantae Announces Closing of First Tranche of Non-Brokered Private Placement
December 02 2011 - 8:44AM
Marketwired
Asantae Holdings International Inc. (TSX-V: JVA) ("Asantae" or the
"Company") announces the closing of the first tranche of a
non-brokered private placement (the "Private Placement").
Private Placement
Asantae is pleased to announce that it has closed the first
tranche of the Private Placement pursuant to which the Company
issued 1,550,000 units (each a "Unit") at a price of $0.15 per Unit
for gross proceeds of $232,500.
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 May 30, 2013.
The securities issued pursuant to the Private Placement and the
shares issued in connection with the exercise of Warrants, if any,
will be subject to a hold period expiring on April 1, 2012, in
accordance with the policies of the TSX Venture Exchange and
applicable securities laws.
Finder's fees of $20,925 cash have now been paid and 108,500
finder's warrants have now been issued in conjunction with the
first tranche of the Private Placement. Each finder's warrant
entitles the holder thereof to purchase one common share of the
Company at an exercise price of $0.25 per share up to and including
May 30, 2013.
The net proceeds of the Private Placement 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. (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.
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:
Dan Lundell CFO/COO 10153 E Hampton Ave, Ste 101 Mesa,
Arizona, 85209 USA Phone: 480-278-8712 Fax: 480-383-6147
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