Non-brokered offering sells 20,433,680 shares at C$0.075 per share
By Devika Patel
Knoxville, Tenn., Jan. 22 – Avidus Management Group Inc. said it completed a C$1.53 million non-brokered private placement of stock. The deal priced for C$1.8 million on Dec. 29.
The company sold 20,433,680 common shares at C$0.075 apiece, a 275% premium to the Dec. 28 closing share price of C$0.02.
Proceeds will be used for general corporate and working capital purposes.
The Mesa, Ariz., company markets and distributes nutraceuticals and health aids.
| Issuer: | Avidus Management Group Inc.
|
| Issue: | Common stock
|
| Amount: | C$1,532,526
|
| Shares: | 20,433,680
|
| Price: | C$0.075
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 29
|
| Settlement date: | Jan. 22
|
| Stock symbol: | TSX Venture: AVD
|
| Stock price: | C$0.02 at close Dec. 28
|
| Market capitalization: | C$3.15 million
|
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