Angel Bioventures Inc. – Completes Consolidation and Announces Private Placement
PRESS RELEASE
ANGEL BIOVENTURES INC.
(The “Corporation”)
(TSX Venture Exchange - NEX – DDD.H)
Angel Bioventures Inc. – Completes Consolidation and Announces Private Placement
February 27, 2015
Angel Bioventures Inc. (TSX Venture Exchange – NEX) reports that the TSXV issued a bulletin on February 27, 2015 that stated effective March 2, 2015 the shares of the Corporation would commence trading on a consolidated basis. The consolidation was done on a ten (10) old shares for one (1) new share basis. After giving effect to the consolidation the Corporation will have approximately 1,188,852 common shares outstanding and there are currently no options or warrants outstanding.
The Corporation would also like to announce that it intends to complete a private placement of up to 10,000,000 units at a price of $0.05 per unit for total maximum proceeds of $500,000.00. The proceeds are to be used for retirement of debts, general working capital, and to fund administrative expenses. The private placement is subject to Regulatory approval. Each unit will be comprised of one common share and one transferable warrant exercisable at $0.05 for a period of 12 months. A finder’s fee may be payable in connection with this placement.
On Behalf of the Board “Ken Ralfs”
Ken Ralfs Director
For further information, please contact:
Randy Clifford Phone: 780-466-6006
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to exercise the option referred to herein and the receipt of necessary regulatory approvals. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that the Company will choose not exercise the option and those risks relating to changes in the market, potential downturns in economic conditions, fluctuations in the price and supply of raw materials, equipment and skilled labour, fluctuations in the market price of minerals, foreign exchange fluctuations, regulatory requirements and changes thereto, competition, and other risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.