Allegiance Equity Corporation receives approval
TORONTO - The Toronto Stock Exchange (TSX) gives final approval for the sale of 823,900 shares of Allegiance Equity Corporation (TSXV: ANQ) (Allegiance) at $0.15 by way of private placement, resulting in $123,585 in funding.
The funding will service the following purposes:
- To assist in the commercialization and promotion of Allegiance’s latest proprietary technology CinG-XTM, including the implementation of a celebrity based marketing program, and to capitalize on new opportunities
- To maintain ongoing administrative and operational expenses
Details of Private Placement:
Palm American Investments Inc. purchased 233,333 common shares; Dr. Melvin Goldberg purchased 80,000 common shares; and George Anthony Warburton purchased 510,567 common shares at $0.15 per share. The shares are restricted and carry the following legend:
WITHOUT PRIOR WRITTEN APPROVAL OF THE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SHARES MAY NOT BE SOLD, WITHOUT PRIOR WRITTEN APPROVAL OF THE EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE SECURITIES LEGISLATION, THE SHARES MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TSX VENTURE EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL JULY 15TH, 2013.
Interest of Management:
There are presently 9,264,487 common shares and 700,000 share purchase warrants of Allegiance issued and outstanding. Palm American Investment Inc. currently holds 2,443,830 common shares and 700,000 share purchase warrants of Allegiance and is controlled by David Solomon and Marilyn Bloovol, both are directors and officers. Dr. Melvin Goldberg is also a director of Allegiance. All purchasers of the Private Placements are insiders of Allegiance.
Additional information relevant to Allegiance’s activities, including Allegiance’s press releases, can found on SEDAR at www.sedar.com
About Allegiance Equity Corporation:
Allegiance Equity (TSXV: ANQ) is a public company that develops unique standardized mass-market products for the treatment of common diseases where present pharmaceutical treatments and Over the Counter (OTC) products fail to meet the needs of patients. Allegiance targets markets having clearly identified product deficiencies and dissatisfied consumers afflicted with common diseases and conditions including Alzheimer's, dementia, diabetes and inflammatory skin conditions, Allegiance obtains regulatory approval and patents for these unique compounds and formulations, for licensing, and royalty revenues.
CinG-XTM is a combination of standardized extracts acting synergistically to control glucose metabolism, improve cognitive function and reduce the risk of developing conditions associated with blood glucose metabolism and brain function. CinG-XTM has been approved by Health Canada and Master File OF12-21-26454-MF001 supports its claims. International PCT Patent Examiner has favourably reviewed CinG-XTM claims under the Publication No. WO 2010/048705.
For further information please contact:
David Solomon, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY FOR THIS PRESS RELEASE, WHICH HAS BEEN PREPARED BY MANAGEMENT.
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