Avidus Appoints Doug Ridley as CEO and Provides Corporate Update
VANCOUVER, BC and MESA, AZ, Jan. 14, 2014 /PRNewswire/ - Avidus Management Group Inc. ("Avidus" or the "Company") (TSXV: AVD) (OTC: ASNHF), today announced that it has appointed Doug Ridley as Chief Executive Officer and Director, effective January 15, 2014. Mr. Ridley, who has a 25-year proven track record as a network marketing business leader and distributor, was appointed President of Avidus in June 2013 to develop and implement the company's strategic growth initiatives.
Avidus is grateful to co-founder and outgoing CEO Daniel Lundell for his invaluable contributions to the company. Mr. Lundell will remain as Chief Operating Officer and as Chairman of Avidus' board of Directors. Mr. Lundell said, "We have worked very hard to get the company to this point and I am pleased to have Doug accept the appointment as CEO; his leadership has been and will be extremely valuable to the company. Our shared vision for Avidus' future is exciting and I look forward to increased value for shareholders."
Mr. Ridley has an accomplished career in this industry, having led another network marketing company, Quorum International, to more than $125 million annual sales in less than three years with $20 million in pre-tax profit. As a successful distributor in the functional beverage space, he headed a network that generated more than $25 million in annual sales volume.
Doug Ridley, President & CEO, commented: "I am excited to be appointed as CEO as we embark on fulfilling our vision of transforming Avidus into a premier company through strategic growth and acquisitions. Since joining the company as President in June, I am pleased with the rapid progress we have made on several fronts. In my 25-years in the industry, I have had the privilege of building successful businesses based on corporate culture and relationships, proven systems and quality products. I feel that all of these elements are now in place as we enter 2014.
The backbone of a successful network marketing business revolves around a professional and passionate team. I was thrilled to have top network marketer Erik Cloud join Avidus as network leader in August, and results thus far have been very positive. In Q4, recruitment was up 50% over Q3 and, in addition, we expanded our network's geographic reach. In December, Steve and Linda Kampouroglou, extremely accomplished network marketing professionals based in Florida, joined Asantae and we anticipate that they will build upon their past successes. They have most recently built network sales organizations in the tens of thousands representing tens of millions of dollars in sales per year.
One of my initial goals for Asantae after joining the company was to create an exceptional product in the $25 billion US functional beverage space. In October, we launched IS2, a revolutionary inflammation and immune support nutritional beverage, which has been received very positively and quickly attracted network marketers from other well established companies.
Avidus enters the New Year with tremendous momentum and I believe we
will experience significant growth in 2014. We are currently
evaluating a number of strategic acquisitions and anticipate completing
our first transaction in the near term. These businesses will not only
add to our top and bottom line, but will also benefit and grow from our
proven leadership, operational efficiencies and systems."
About Avidus
Avidus Management Group Inc. (TSX-V: AVD, OTC: ASNHF), through its
wholly owned subsidiary, Asantae (www.asantae.com) develops, produces and markets innovative nutritional products through
direct and network marketing channels. The ingredients in Asantae's
products have been shown to reduce chronic low-grade inflammation and
oxidative stress, and support a healthy immune system that, according
to scientific and medical research, are the underlying conditions for
most modern epidemic diseases (diabetes, heart disease, obesity,
stroke, etc.).
This news release may contain forward-looking statements relating to the
Company's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict and may be beyond
the Company's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in the Company's
regulatory filings. In addition, such statements relate to the date on
which they are made and the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, save and
except as may be required by applicable securities laws.
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.
SOURCE Avidus Management Group Inc.
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