Avidus Management Group Inc. (TSXV:AVD) announced a non-brokered private placement of 7,500,000 units at CAD 0.05 per unit for gross proceeds of CAD 375,000 on August 19, 2015. Each unit consists of one common share and one half of a share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of two years.

The company will not pay any finder's fee or commission in the transaction. The securities to be issued are subject to a statutory hold period of four months plus a day from issuance. The transaction is subject to approval of TSX Venture Exchange.