{"id":49943,"date":"2022-10-22T02:01:48","date_gmt":"2022-10-22T00:01:48","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/avivagen-inc-announces-closing-of-first-tranche-of-a-non-brokered-private-placement-of-shares-for-proceeds-of-up-to-1-0-million\/"},"modified":"2022-10-22T02:01:48","modified_gmt":"2022-10-22T00:01:48","slug":"avivagen-inc-announces-closing-of-first-tranche-of-a-non-brokered-private-placement-of-shares-for-proceeds-of-up-to-1-0-million","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/avivagen-inc-announces-closing-of-first-tranche-of-a-non-brokered-private-placement-of-shares-for-proceeds-of-up-to-1-0-million\/","title":{"rendered":"Avivagen Inc. Announces Closing of First Tranche of a Non-Brokered Private Placement of Shares for Proceeds of up to $1.0 Million"},"content":{"rendered":"
\n

\n**Not for Distribution to United States News Wire Services or for Dissemination in the United States.**<\/i><\/b>\n<\/p>\n

OTTAWA, Ontario–(BUSINESS WIRE)–Avivagen Inc. (TSXV:VIV) (\u201cAvivagen<\/b>\u201d or the \u201cCompany<\/b>\u201d), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhance and support immune function, thereby supporting general health and performance, announces that it has closed the first tranche (the \u201cFirst Tranche<\/b>\u201d) of a non-brokered private placement financing of up to $1,000,000 (the \u201cOffering<\/b>\u201d) <\/b>through the issuance of common shares of the Company (each, a \u201cCommon Share<\/b>\u201d) at a price of $0.20 per Share (the \u201cOffering Price<\/b>\u201d).\n<\/p>\n

\nThe Company issued 2,150,000 Common Shares, for aggregate gross proceeds of $430,000 in the First Tranche.\n<\/p>\n

\nIn connection with the First Tranche, the Company paid aggregate finder’s fees consisting of $34,400 in cash and issued 172,000 non-transferrable finder’s warrants (each, a \u201cFinder’s Warrant<\/b>\u201d) to Canaccord Genuity Corp., Raymond James Ltd., Echelon Wealth Partners and Leede Jones Gable Inc. Each Finder\u2019s Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.20 per share for a period of 24 months from the date of issuance.\n<\/p>\n

\nThe net proceeds of the Offering will be used to fund research and development expenses, sales and marketing costs, product registration, interest expense, working capital and general corporate purposes.\n<\/p>\n

\nThe Company may close one or more additional closings of this same Offering for additional proceeds. A subsequent press release will be issued if any such closing occurs. The Company may pay finders\u2019 fees consisting of cash, compensation warrants, or some combination thereof on any subsequent tranche.\n<\/p>\n

\nThe issuance of Common Shares are subject to final acceptance of the TSX Venture Exchange.\n<\/p>\n

\nAll securities issued in connection with the First Tranche are subject to a four-month and one day hold period in Canada.\n<\/p>\n

\nThis news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirement.\n<\/p>\n

\nAbout Avivagen
\n
<\/b>Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of \u03b2carotene 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 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<\/a>. The contents of the website are expressly not incorporated by reference in this press release.\n<\/p>\n

\nNotice Regarding Forward Looking Statements
\n
<\/b>This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Avivagen to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include the possibility for additional closings of the Offering and the anticipated use of proceeds from the First Tranche. The closing of the Offering is subject to a number of customary conditions, including the approval of the applicable securities commissions and the TSX Venture Exchange, some of which are outside the control of Avivagen. Purchasers are under no obligation to participate in another closing of the Offering and another closing might not occur. Circumstances may necessitate or make it desirable that Avivagen use the proceeds of the Offering for different purposes than described above. The forward-looking statements included in this news release are made as of the date of this news release and Avivagen does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.<\/i>\n<\/p>\n

\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/i>\n<\/p>\n

\nCopyright \u00a9 2022 Avivagen Inc. OxC-beta\u2122 is a trademark of Avivagen Inc.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nAvivagen Inc.
\n
Drew Basek
\n
Director of Investor Relations
\n
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
\n
416-540-0733
\n
d.basek@avivagen.com<\/a>\n<\/p>\n

\nKym Anthony
\n
Chief Executive Officer
\n
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
\n
613-949-8164
\n
www.avivagen.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

**Not for Distribution to United States News Wire Services or for Dissemination in the United States.** OTTAWA, Ontario–(BUSINESS WIRE)–Avivagen Inc. (TSXV:VIV) (\u201cAvivagen\u201d or the \u201cCompany\u201d), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhance and support immune function, thereby supporting general health and performance, … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["entry","post","publish","author-business","post-49943","format-standard","category-industry"],"yoast_head":"\nAvivagen Inc. 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