AMS Health Sciences, Inc. Completes $2,000,000 Private Placement
05 July 2006 - 10:30PM
Business Wire
AMS Health Sciences, Inc. (AMEX:AMM) announced today the successful
completion of a $2,000,000 private placement financing through the
sale of Secured Convertible Notes and Warrants to Laurus Master
Fund Ltd. The net proceeds of the funding will be used primarily
for sales and marketing. The note is a thirty-six month term, with
the first twelve months being interest only and a twenty-four month
amortization of principle. For a full description of the terms of
the note, please refer to the Form 8-K filing on the Company's
website under Investor Relations (www.amsonline.com). Ascendiant
Securities LLC, a nationally ranked, NASD member investment banking
firm and SEC registered broker-dealer based in Irvine, California
served as placement agent. "We are extremely pleased that our new
partners, Ascendiant and Laurus, have joined us in our efforts to
propel AMS to the forefront of network marketing companies," stated
Dr. Jerry W. Grizzle, President and CEO of AMS. "We have worked
very hard in the past few months to stabilize our operations,
return ourselves to profitability and position the Company to where
we can focus 100% of our efforts toward driving sales and traffic
in our network. The funds from this financing will be used to
introduce sales and marketing promotions aimed at accomplishing
those objectives." AMS Health Sciences sells more than 60 natural
nutritional supplements, weight management products and natural
skincare products through independent distributors across the U.S.
and Canada. More information about the Company is available at
http://www.amsonline.com. Ascendiant Securities provides corporate
finance and related advisory services to its emerging public and
private company clients. In 2005, Ascendiant Securities was ranked
among the Top 10 most active placement agents in the United States
for financing emerging public companies as tracked by Sagient
Research Systems. This announcement is for information purposes
only and should not be regarded as an offer or solicitation to buy
or sell any financial instrument. For more information, please
visit www.ascendiant.com.
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