August 16, 2012 11:20 ET
Collagenna (AGIJ) Major Asian Cosmetics Merger Corporate Re-Organization
OTTAWA, ONTARIO--(Marketwire - Aug. 16, 2012) - Axia Group (PINKSHEETS:AGIJ) management is of the opinion that this is a major event that warrants a public announcement to its followers and shareholders.
A Korean private entity in the skin care and similar cosmetics industry has made an appealing and attractive, unsolicited offer for the majority control block of AGIJ.
An agreement in principle has been reached between the existing management and the new owners. Both the Korean incoming merger company and the current AGIJ management are of the opinion that AGIJ current share price valuation does not accurately reflect the company's true value. Present CEO Michael Arnkvarn states "This is a complex transaction involving a USA-based company and a Korean group that are non-related, in an asset purchase and sale and merger transaction. We feel that we have a fiduciary duty to our followers and shareholders to bring the greatest value and return in terms of share price valuation. This complex deal, to be completed partly in cash and stock, should bolster AGIJ's financial status and make AGIJ a more robust and a vibrant company moving forward. AGIJ expects to add the Korean group to our management board."
Details of the transaction will be made available via OTC Markets followed by an official news announcement anticipated by the end of August 2012. Further and separate filings and announcements will include details regarding management's aspirations and plans as to how we foresee to bring the greatest value and return to AGIJ shareholders in terms of share price valuation.
More updates forthcoming shortly.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Axia Group Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Axia Group Inc. cautions you that any forward-looking information provided by or on behalf of Axia Group Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Axia Group Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Axia Group Inc.'s control. In addition to those discussed in Axia Group Inc.'s press releases, public filings, and statements by Axia Group Inc.'s management, including, but not limited to, Axia Group Inc.'s estimate of the sufficiency of its existing capital resources, Axia Group Inc.'s ability to raise additional capital to fund future operations, Axia Group Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Axia Group Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Axia Group Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
