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American Vantage closes Candidates on Demand deal

September 19 2007

American Vantage Cos. (OTCBB: AVCS.OB) said it closed its acquisition of Candidates on Demand Group Inc., a recruiting and temporary help firm based in New York. Candidates on Demand had revenue of $10.9 million in 2006, according to American Vantage; and has a 150-person staff with offices in New York, Florida, Texas and New Jersey.

Michael Woloshin, will continue as CEO, Andrew Walcott will serve as CFO and Eric Fishkind will serve as executive VP and manager of the company's North Palm Beach FL office. Woloshin, formerly Candidates on Demand's sole shareholder, received $500,000 in cash in the deal, 500,000 in American Vantage shares and a note in the amount of $1.5 million. Woloshin may also receive 2.5 million more shares and another note for $1.5 million if Candidates on Demand meets income benchmarks.

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