Avidus Management Group Inc. (TSXV:AVD) announced a non-brokered private placement of 12,583,880 common shares at CAD 0.05 per unit for gross proceeds of CAD 629,194 on January 16, 2015. The company will not pay any finder's fee in the transaction. The securities issued will be subject to a statutory hold period of four months plus a day from the date of issuance.

The closing of the transaction is subject to approval from the TSX Venture Exchange.