Business
Vaxil Announces Close of Previously Announced Non-Brokered Private Placement and Update on Board of Directors
Not for distribution by US newswire or in United States TORONTO, Dec. 04, 2025 (GLOBE NEWSWIR...
About this update from Vaxil Bio Ltd.
[{"type":"text","content":"Vaxil Announces Close of Previously Announced Non-Brokered Private Placement and Update on Board of Directors\n\n\n\n Not for distribution by US newswire or in United States\n \n\n TORONTO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- VAXIL BIO LTD. (“\n \n Vaxil\n \n ” or the “\n \n Company\n \n ”) (TSX VENTURE: VXL), is pleased to announce that the Company completed its previously announced non-brokered private placement (see press release dated November 24, 2025) for gross proceeds of $140,000 (the \"\n \n Private Placement\n \n \"). Investors in the Private Placement subscribed for 1,244,441 units (\"\n \n Units\n \n \") at a price of $0.1125 per Unit. Each Unit consisted of one common share in the capital of the Company (\"\n \n Common Share\n \n \") and one Common Share purchase warrant (\"\n \n Warrant\n \n \"), with each Warrant being exercisable, at any time prior to December 2, 2030, to acquire one additional Common Share (each a \"\n \n Warrant Share\n \n \") at an exercise price of $0.15 per Warrant Share.\n \n\n In accordance with applicable Canadian securities law, the securities issued pursuant to the Private Placement are subject to a four month and one day hold period expiring on April 3, 2026. Additionally, in connection with the Private Placement, Vaxil compensated certain finders by payment of finders’ fees in the aggregate amount of $11,200 and the issuance of an aggregate of 99,555 finders’ warrants (“\n \n Finders’ Warrants\n \n ”). The Finders’ Warrants have identical terms to those of the Warrants.\n \n\n Net proceeds from the Private Placement are presently expected to be used to continue to actively explore other strategic options beyond the health care sector for maximizing shareholder value.\n \n\n The Company announces that Mr. Ari Kellen and Mr. Shawn Langer have resigned from the Company’s Board of Directors, effective immediately. Also effective immediately, the Company announces the appointment of Mr. Simon Igelman to the Company’s board.\n \n\n Mr. Igelman is a corporate transactional lawyer. His practice focuses on corporate finance and mergers and acquisitions, as well as providing advice on structured finance and capital markets mandates. Mr. Igelman has represented private and public companies on a variety of transacti...