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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.