Avidus Management Group Inc. (TSXV:AVD) announced a non-brokered private placement of 15,000,000 units at CAD 0.10 per unit for gross proceeds of CAD 1,500,000 on July 16, 2014. Each unit consists of one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at CAD 0.20 per share for a period of three years from the closing of the transaction.

The company will reserve up to 5,000,000 units as an overallotment option in the transaction. The company might pay finder's fee in the transaction. The closing of the transaction is subject to approval from the TSX Venture Exchange.