Business
Avivagen Announces Update on Private Placement Process
Avivagen Announces Update on Private Placement Process.
About this update from Avivagen, Inc.
[{"type":"text","content":"Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Company”), a life sciences innovation company with a series of patent protected products that support and optimize human and animal health, is pleased to provide an update on the status of its previously announced non-brokered private placement (the “Offering”) of units (the “Units”) at an issue price of $0.50 per Unit. Each Unit consists of one common share (a “Common Share”) in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at $0.75 for a period of 3 years.Avivagen previously closed the sale of 2,500,000 Units on January 2, 2020 for gross proceeds of $1,250,000. Avivagen continues to work closely with subscribers and anticipates one or more additional closings of the Offering by the end of January for up to an additional 3,500,000 Units for additional gross proceeds of up to $1,750,000, which would amount to total proceeds for the entire Offering of up to $3,000,000. About AvivagenAvivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It 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.About OxC-beta™ Technology and OxC-beta™ LivestockAvivagen’s OxC-beta™ technology is derived from Avivagen discoveries about carotenoids, compounds that give certain fruits and vegetables their bright colours, and is a non-antibiotic means of maintaining optimal health and growth. OxC-beta™ Livestock is a proprietary product shown to be effective and economic in replacing the antibiotics commonly added to livestock feeds. OxC-beta™ Livestock is currently available for sale in the United States, Philippines, Taiwan, New Zealand, Thailand, Australia and Malaysia.Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove...