By PR Newswire, February 26, 2013, 08:00:00 AM EDT
VANCOUVER, BC AND MESA, AZ, Feb. 26, 2013 /PRNewswire/ - Asantae Holdings
International Inc. ("Asantae" or the "Company") (TSX-V:JVA) announces
that, further to its news release dated November 26, 2012, the Company
has completed a debt settlement with certain non-arm's length creditors
of the Company to settle aggregate indebtedness in the aggregate amount
of approximately $124,494 by the issuance of 414,981 common shares (the
"Shares") at a deemed price of $0.30 per Share.
In settlement of the outstanding debt, a total of 205,333 Shares were
issued to Gainey Consultants, Inc., a company owned by John Reynolds,
the Company's Chairman and Director, and 209,648 Shares were issued to
Two Kings, LLC, a Company owned by Daniel Lundell, the Company's CEO,
COO and Director.
All of the Shares issued pursuant to the debt settlement are subject to
a four-camonth hold period expiring on June 21, 2013.
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.
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.
SOURCE Asantae Holdings International, Inc