Avivagen Inc. Announces Closing of Third Tranche of a Private Placement of Shares and Warrants

July 7, 2022

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OTTAWA, Ontario — Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Firm”), a life sciences company centered on growing and commercializing merchandise for livestock, companion animal and human purposes that safely improve and assist immune perform, thereby supporting common well being and efficiency, publicizes that it has closed the third tranche (the “Third Tranche”) of its beforehand introduced non-brokered personal placement financing (the “Providing”) by the issuance of models of the Firm (every, a “Unit”) at a value of $0.20 per Unit (the “Providing Worth”) (for extra details about the Providing and the primary tranche thereunder, please see the Firm’s information launch dated April 28, 2022 for extra particulars of the second tranche, please see the Firm’s information launch dated Might 31, 2022).

Every Unit consists of 1 frequent share within the capital of the Firm (every a “Widespread Share”) and one Widespread Share buy warrant (every entire warrant, a “Warrant”). Every Warrant might be exercisable to amass one Widespread Share for a interval of 5 years following the date of issuance at an train value of $0.30 per share.

The Firm issued 705,000 Items, for combination gross proceeds of $141,000 within the Third Tranche. Within the combination of all three tranches of the Providing, the Firm issued 11,026,180 Items for gross proceeds of $2,205,236.

In reference to the Third Tranche, the Firm paid combination finder’s charges consisting of $4,200 in money and issued 21,000 non-transferrable finder’s warrants (every, a “Finder’s Warrant”). Every Finder’s Warrant entitles the holder thereof to buy one Widespread Share at an train value of $0.20 per share for a interval of 24 months from the date of issuance. Within the combination of all three tranches of the Providing, the Firm paid finder’s charges consisting of $138,110 in money and issued 690,550 Finder’s Warrants within the Providing.

The web proceeds of the Providing might be used to fund analysis and growth bills, gross sales and advertising prices, product registration, curiosity expense, working capital and common company functions.

The issuance of Widespread Shares and Warrants are topic to last acceptance of the TSX Enterprise Change.

All securities issued in reference to the Providing are topic to a four-month and someday maintain interval in Canada from the date of issuance.

About Avivagen

Avivagen is a life sciences company centered on growing and commercializing merchandise for livestock, companion animal and human purposes. By unlocking an neglected aspect of βcarotene exercise, a path has been opened to soundly and economically assist immune perform, thereby selling common well being and efficiency in animals. Avivagen is a public company traded on the TSX Enterprise Change below the image VIV, and is headquartered in Ottawa, Canada, based mostly in partnership services of the Nationwide Analysis Council of Canada and Charlottetown, Prince Edward Island. For extra info, go to www.avivagen.com. The contents of the web site are expressly not integrated by reference on this press launch.

Discover Relating to Ahead Wanting Statements

This information launch comprises forward-looking statements. Usually, however not at all times, forward-looking statements could be recognized by way of phrases equivalent to “plans”, “expects” or “doesn’t count on”, “is anticipated”, “estimates”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “may”, “would”, “would possibly” or “will” be taken, happen or be achieved. Ahead-looking statements contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of Avivagen to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Examples of such statements embrace the anticipated use of proceeds from the Providing. The closing of the Providing is topic to a lot of customary situations, together with the approval of the relevant securities commissions and the TSX Enterprise Change, a few of that are outdoors the management of Avivagen. Circumstances might necessitate or make it fascinating that Avivagen use the proceeds of the Providing for various functions than described above. The forward-looking statements included on this information launch are made as of the date of this information launch and Avivagen doesn’t undertake an obligation to publicly replace such forward-looking statements to replicate new info, subsequent occasions or in any other case except required by relevant securities laws.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20220706005895/en/

Contacts

Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Telephone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Govt Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Workplace Telephone: 613-949-8164
Web site: www.avivagen.com

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July 7, 2022

0 0 3 minutes read