VANCOUVER,
Aug. 15, 2012 /PRNewswire/ - Asantae
Holdings International Inc. (TSX-V: JVA; "Asantae" or the
"Company") is pleased to announce the results of the
Company's Annual and Special General Meeting (the "AGM")
held on August 14, 2012, in
Vancouver, Canada.
The Company is pleased to report that at its AGM
the shareholders approved an ordinary resolution to set the size of
its Board of Directors at four. These directors are: The
Honourable John D. Reynolds, P.C., The Honourable Larry Campbell,
Daniel Lundell and newly appointed
Terrel Transtrum.
Terrel Transtrum is an industry expert in network
marketing. From his start with Melaleuca in 1988 as
Vice-President of customer service until now, he has assisted,
launched and advised multiple network companies, and coached CEOs
and presidents. Terrel has an accounting degree from Brigham Young University, law degree from the
University of Idaho, and an LL.M.
(Master in Tax Law) from the University of
Miami.
Chairman Reynolds said, "Terrel's passion and
commitment to excellence in network marketing, make him a valuable
director and member of the Asantae team. His depth of
experience, contacts and leadership will contribute to the
Company's strategic vision and operational objectives."
The Company also appointed Davidson & Company,
LLP, Chartered Accountants, as its auditor with remuneration to be
fixed by the directors.
In addition, at the AGM the shareholders also
approved the continuation of its current share option plan.
This is the only equity compensation plan the Company has which
allows for a maximum issuance of 10% of the total number of issued
and outstanding common shares of the Company (the
"Plan"). The Plan has been established to provide
incentive to qualified parties to increase their proprietary
interest in the Company and thereby encourage their continuing
association with the Company. The Plan also provides that the
options will be issued to directors, officers, employees or
consultants of the Company or a subsidiary of the Company.
The Company's Chief Executive Officer and Chief Financial Officer
together will be the Administrator under the Plan until revoked by
resolution of the Board of Directors.
The Company is also pleased to announce that,
subsequent to its AGM, its Board of Directors appointed and/or
reappointed the following Executive Officers: The Honourable John
D. Reynolds, P.C. (Chairman of the Board); Daniel Lundell (Chief Executive Officer and
Chief Operating Officer); and Pamela
Egan (Chief Financial Officer and Corporate
Secretary). Having played a key role in the Company's
reorganization in 2011, Timothy F.
Transtrum has stepped down as President to pursue other
opportunities. The Company appreciates his commitment and
contribution to the Asantae 2.0 transformation. Tim remains a
member of the Company's advisory board.
About Asantae
Asantae Holdings International Inc. (www.asantae.com) is a producer
and marketer of innovative nutritional products through a network
of independent distributors (Asantae Independent Affiliates).
Asantae's flagship product RealW8™ addresses the primary threat to
public health in the industrialized world; overweight and
obesity. Asantae's approach to this threat is based on a body
of research related to the brain chemistry of addiction, chronic
low-grade inflammation and oxidative stresses which, according to
scientific and medical research, are the underlying conditions for
most modern epidemic diseases (obesity, heart disease, diabetes,
stroke, some cancers, etc.). According to Market data Enterprises,
Inc., the U.S. weight loss market alone is estimated at
$60.9 billion per year.
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.
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