OTTAWA, ONTARIO--(Marketwire - Aug. 16, 2012) - Axia Group (PINKSHEETS:AGIJ) management is of the opinion that this is a major event that warrants a public announcement to its followers and shareholders.
A Korean private entity in the skin care and similar cosmetics industry has made an appealing and attractive, unsolicited offer for the majority control block of AGIJ.
An agreement in principle has been reached between the existing management and the new owners. Both the Korean incoming 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. Present CEO Michael Arnkvarn states "This is a complex transaction involving a USA-based company and a Korean group that are non-related, in an asset purchase and sale and merger transaction. We feel that we have a fiduciary duty to our followers and shareholders to bring the greatest value and return in terms of share price valuation. This complex deal, to be completed partly in cash and stock, should bolster AGIJ's financial status and make AGIJ a more robust and a vibrant company moving forward. AGIJ expects to add the Korean group to our management board."
Details of the transaction will be made available via OTC Markets followed by an official news announcement anticipated by the end of August 2012. Further and separate filings and announcements will include details regarding management's aspirations and plans as to how we foresee to bring the greatest value and return to AGIJ shareholders in terms of share price valuation.
More updates forthcoming shortly.
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