Avivagen Provides Update on Non-Brokered Private Placement

Avivagen Provides Update on Non-Brokered Private Placement




Avivagen Provides Update on Non-Brokered Private Placement

Not for Distribution to United States News Wire Services or for Dissemination in the United States.

OTTAWA, Ontario–(BUSINESS WIRE)–Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Company”) announces that the TSX Venture Exchange has granted an extension of up to 30 days for completion of the balance of the Company’s previously announced non-brokered private placement of up to $5,000,000 (the “Offering”) through the issuance of units of the Company (each, a “Unit”) at a price of $0.20 per Unit. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share for a period of 5 years following the date of issuance at an exercise price of $0.30 per share. To date, the Company has completed one tranche of the Offering, raising gross proceeds of $1,663,000 from the sale of 8,315,000 Units (for more details regarding the offering, please see the Company’s news release dated April 28, 2022).

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of βcarotene activity, a path has been opened to safely and economically support immune function, thereby promoting general health and performance in animals. Avivagen is a public corporation traded on the TSX Venture Exchange under the symbol VIV, and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

Notice Regarding Forward Looking Statements

This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Avivagen to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the possibility for additional closings of the Offering. The closing of the Offering is subject to a number of customary conditions, including the approval of the applicable securities commissions and the TSX Venture Exchange, some of which are outside the control of Avivagen. Purchasers are under no obligation to participate in another closing of the Offering and another closing might not occur. The forward-looking statements included in this news release are made as of the date of this news release and Avivagen does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Contacts

For more information:
Avivagen Inc.

Drew Basek

Director of Investor Relations

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6

Phone: 416-540-0733

E-mail: d.basek@avivagen.com

Kym Anthony

Chief Executive Officer

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6

Head Office Phone: 613-949-8164

Website: www.avivagen.com