Collagenna (AGIJ) Major Asian Cosmetics Merger Update
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OTTAWA , Canada, August 17, 2012– Axia Group (AGIJ.PK) management is of the opinion that this is a major event that warrants a public filing to its followers and shareholders on OTC Markets.
· Further to the news release of Aug 16 2012 a Korean private entity in the skin care and similar cosmetics industry has made an appealing and an attractive unsolicited offer for the majority control block of AGIJ.
· An escrow agent has been located and documents forwarded for execution and the agreement is no longer an LOI in principle but a firm offer.
· The transaction is scheduled to close within the next 7 to 10 business days however can occur without further notice at any point.
· A separate news announcement will be made once the deal is finalized
· Both the Korean in coming 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. The “control block” of shares for the of AGIJ is being tendered at a far greater share price valuation than what AGIJ is currently trading at. The management is not qualified to express an opinion as to the implications or impact this sale of the control block will have on the common stock currently in the streets name.
· This is a complex transaction involving a USA based and a Koren group that are non related in an asset purchase and sale and a merger transaction. This complex deal to be completed partly in cash and stock.
· Collagena and its Directors will become a minority shareholders (stock not being sold held back by Directors)
· The Korean merger / buy out will leave the current share structure unchanged and undisturbed for the foreseeable future.
· A separate filing and news announcement will follow identifying the Korean – USA merger company.
· AGIJ expects to starts adding the Korean group to our management board shortly.
More updates forthcoming shortly.
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