Avidus Management Group Inc. (TSXV:AVD) entered into an asset purchase agreement to acquire substantially all of the assets of Truestar Health Inc. for CAD 6 million on July 15, 2014. Avidus Management will pay CAD 0.5 million upon closing and the remaining CAD 5.5 million based upon a 5% royalty override on Truestar's revenue. As part of the transaction, Avidus Management is acquiring Truestar's proprietary software system. Avidus Management will fund the transaction form the proceeds of the non-brokered private placement of 15 million units at a subscription price of CAD 0.1 per unit, for gross proceeds of up to CAD 1.5 million. Michael Boulton, Truestar's President, will continue to lead the Truestar corporate team.

Avidus Management Group Inc. (TSXV:AVD) completed the acquisition of substantially all of the assets of Truestar Health Inc. for on July 25, 2014.