Business
Avivagen Inc. to Issue Shares in lieu of Annual Maintenance Fee
Avivagen Inc. to Issue Shares in lieu of Annual Maintenance Fee.
About this update from Avivagen, Inc.
[{"type":"text","content":"Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Corporation”) announces that it has opted to issue common shares to satisfy $107,560 owing to the holders of 10% secured debentures issued by Avivagen on March 28, 2019 and April 9, 2019 on account of an annual maintenance fee owing to such holders. Pursuant to the terms of such debentures, Avivagen has the option of paying such maintenance fee in cash or in common shares. A total of 162,122 common shares will be issued at the rate of $0.65 per share to satisfy the maintenance fee of $105,280 owing in respect of the debentures issued on March 28, 2019. Such shares will be issued with effect as of March 28, 2020. The number of shares to be issued to satisfy the $2,280 maintenance fee owing in respect of the debentures issued on April 9, 2019 will be determined on March 31, 2020 and will be announced by way of a subsequent press release.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 β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Australia and Malaysia.Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international lives...