Business
Avivagen Inc. Announces Results for the First Quarter Ending January 31, 2020
Avivagen Inc. Announces Results for the First Quarter Ending January 31, 2020.
About this update from Avivagen, Inc.
[{"type":"text","content":"\nAvivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Corporation”), a world leader in natural alternatives to antibiotics with its OxC-beta™ technology, announces its unaudited financial results for the first quarter of 2020.\n\n\nFor the three-month period ended January 31, 2020, the Corporation reported revenues of $247,805, a decrease of $74,320 over the three-month period ended January 31, 2019.\n\n\nThe comprehensive loss from continuing operations for the three-month period ended January 31, 2020 was $1,331,780. As at January 31, 2020, the Corporation reported total assets of $3,959,177, total liabilities of $5,725,180 and shareholders’ equity (deficiency) of ($1,766,003).\n\n\nWarrant Extension\nAvivagen also announces that it will be requesting approval from the TSX Venture Exchange for the extension of the expiration date of warrants exercisable to purchase 2,774,991 common shares at $0.90 per share which were originally issued on June 1, 2016. These warrants currently have an expiration date of March 31, 2020. Subject to TSX Venture Exchange approval, the new date of expiry for such warrants will be September 30, 2020. All other terms of such warrants will remain unchanged.\n\n\nHighlights from the quarter include:\n\n\n\nFirst OxC-beta™ for Livestock order from Taiwan.\n\n\nUNAHCO’s announcement of its intent to expand into poultry as well as sows.\n\n\nRelaunch of Avivagen’s animal companion product with Mimi’s Rock (MIMI.V) under the “Dr. Tobias” brand.\n\n\nAgreement with COFCO Biotech, where COFCO will support efforts to help Avivagen obtain approval for the sale of OxC-betaTM Livestock for use with broilers in China.\n\n\nSuccessful closing of a non-brokered Private Placement with proceeds of $3,000,000.\n\n\nSuccessfully listed its common shares to trade on the OTCQB® Venture Market under the symbol “VIVXF”.\n\n\n\nAbout Avivagen\nAvivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of β-carotene 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 TS...