Business
Avivagen Inc. Announces Results for the First Quarter Ending January 31, 2021
Avivagen Inc. Announces Results for the First Quarter Ending January 31, 2021.
About this update from Avivagen, Inc.
[{"type":"text","content":"\nAvivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Corporation”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that enhance feed intake and safely support immune function, thereby supporting general health and performance, has announced its unaudited financial results for the first quarter of 2021. Unless otherwise noted, all figures are in Canadian currency.\n\nMilestones achieved during Q1 2021 include:\n\n\nSecured sizeable recurring order (6 tonne total at 500kg/month) with Transformadora Agricola de Alimentos S.A. de C.V in Mexico. Product will begin shipping to the customer in April, 2021.\n\n\nFinalized shipping arrangements for previously announced 10 tonne order with Industrias Melder in Mexico.\n\n\nProduct to be shipped commencing Q2, 2021, resulting in 1.5 tonnes of orders from Mexico-based clients (Melder & Transformadora) per month, a dramatic increase from total fiscal 2020 sales.\n\n\n\n\n\nFulfilled more than 2 tonnes in orders with customers in the Philippines, Taiwan and Thailand.\n\n\nSubsequent to the quarter Avivagen also announced it had:\n\n\nCompleted an oversubscribed bought deal financing of $7.5 million.\n\n\nSigned an agreement with Meyenberg International Group to expand efforts into five Central and South American markets, building on accelerating growth in the Mexican market to date.\n\n\nLaunched Dr. Tobias Beta Blend, Avivagen’s first nutraceutical, designed and developed to promote advanced immune support for humans, with Mimi’s Rock Corp. on Amazon.com.\n\n\n“We have just finished our largest volume and sales year for OxC-betaTM and have already announced order volumes for the upcoming year that are larger than all of 2021. As timing of orders and shipping realities mean these numbers aren’t reflected in our Q1 results, what these accomplishments show is that the year ahead is very bright for Avivagen,” says Kym Anthony, Chief Executive Officer, Avivagen Inc.\n\n“Subsequent to quarter end we completed the largest bought deal financing in our history. We are continuing to grow important client relationships and sales volume in Mexico, and recently expanded our efforts in Central and South America, spearheaded by Meyenberg International...