Avivagen Announces Proposed Private Placement
23 Agosto 2013 - 9:00AM
Access Wire
OTTAWA, ONTARIO, August 23, 2013
- Avivagen Inc. (TSXV:VIV), a wellness
company developing and delivering products that support and enhance
the health and quality of life for animals and the people who care
for them, announces that it intends to complete a private placement
of units for gross proceeds of up to $1.5 million.
This private placement is expected to
involve the sale of units, each comprised of one common share and
one-half of a common share purchase warrant, for a unit price of
$0.07. Each whole warrant will entitle the holder to acquire one
common share of Avivagen at an additional purchase price of $0.12
for three years from closing. The proposed private placement is the
result of inbound indications of investor interest and is expected
to close within the next ten (10) business days.
Avivagen expects that it will pay
finders' fees in connection with the private placement, the amounts
of which will be disclosed in the news release issued upon the
closing of the transaction. The net proceeds of the proposed
offering will be used to fund working capital, product development
and commercialization expenditures and for general corporate
purposes.
The securities issued under this private
placement will be subject to restrictions on transfer, including a
hold period ending four months after issuance. The private
placement remains subject to a number of conditions, including, but
not limited to, the execution of subscription agreements with
investors and TSX Venture Exchange approval. This news release does
not constitute an offer to sell or a solicitation of an offer to
buy any securities.
About Avivagen Inc.
Avivagen Inc. is a publicly-listed life
sciences company trading on the TSX Venture Exchange under the
ticker symbol "VIV". The Company's goal is to
develop and deliver scientifically-proven solutions that can truly
benefit companion and production animals by employing natural
mechanisms for maintaining good health. Avivagen's targeted markets
include Pet Wellness and Livestock Productivity.
The company has sites located in
partnership facilities of the National Research Council of Canada
(NRC) - in Ottawa, Ontario and Charlottetown, Prince Edward
Island. More information can be found
at www.avivagen.com.
About
OxC-beta
Avivagen's
proprietary and patent-protected technology is based on its
discoveries concerning carotenoid antioxidants. The novel natural
compounds discovered by Avivagen support the body's own systems to
maintain and enhance health, particularly by supporting immune
function. Avivagen's commercial-stage application of its technology
is Fully-Oxidized beta-Carotene (OxC-beta). OxC-beta compounds
occur naturally as carotenoid oxidation products in vegetation, but
in minute amounts. They have been developed to support the health
of companion animals and for use in the global food animal
market.
Research results indicate OxC-beta
supports innate immune function, which can help maintain good
health. In pets, OxC-beta supports overall vitality and energy,
mobility and joint function, skin, coat and gut. Results observed
in food animals have included healthier growth, better utilization
of feed and decreased mortality. In food animals, it is intended
that use of OxC-beta avoids the feeding of antibiotics.
The commercial products of Avivagen
are Oximunol(TM) Chewables, OxC-beta for
livestock and now Vivamune(TM) Health Chews.
About
Vivamune(TM) Health Chews -
"For dogs that dig life" and "For extraordinary cats"
Vivamune(TM) Health Chews,
containing Avivagen's proprietary active
ingredients, are scientifically-formulated chews for dogs and cats.
Vivamune(TM) Health Chews work with a pet's own immune system to
maintain overall health and well-being. They are sold in
re-sealable packages of 30 chews and are currently available in the
United States by ordering on-line at www.vivamunehealth.com.
About Oximunol(TM)
Chewables - "Optimized Health in a Chewable Tablet"
Oximunol(TM) Chewables
are scientifically-formulated chewable tablets that
contain Avivagen's proprietary, patented active ingredient
OxC-beta. OxC-beta has been shown to stimulate innate cellular
immunity and may thereby help to maintain
overall health and well-being. Oximunol(TM) Chewables are
distributed by Bayer Healthcare LLC and are available through
veterinarians for dogs of all ages in the United States.
About OxC-beta for Livestock
OxC-beta for Livestock is available as a 10% pre-mix
sold in 1.0 or 5.0 Kg quantities for parts-per-million addition to
animal feeds, in accordance with producer-developed protocols. In
past studies, OxC-beta has been shown to support health and growth
in species such as fish, chicken, pigs and cattle. OxC-beta for
livestock is currently available for commercial sale in the Kingdom
of Thailand.
Forward
Looking Statements
This
news release includes certain forward-looking statements that are
based upon current expectations, which involve risks and
uncertainties associated with the business of Avivagen Inc. and the
environment in which the business operates. Any statements
contained herein that are not statements of historical facts may be
deemed to be forward-looking, including those identified by the
expressions "will", "anticipate", "believe", "plan", "estimate",
"expect", "intend", and similar expressions. Statements about
Avivagen's intention to complete a private placement, the proposed
terms of such private placement and the proposed use of proceeds of
such private placement are all forward-looking statements. The
forward-looking statements reflect the current expectations of
Avivagen Inc. regarding future results or events and are based on
discussions Avivagen and its representatives have had to date with
potential investors. These forward-looking statements are subject
to a number of risks and uncertainties that could cause actual
results or events to differ materially from current expectations.
There are a number of conditions to completing the proposed private
placement which are outside the control of Avivagen and there can
be no assurances that a private placement will be completed at all
or in the amount indicated in this press release. Avivagen assumes
no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those
reflected in the forward-looking statements.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For more
information:
Avivagen Inc.
Cameron Groome
CEO & President
Phone: 613-949-8164
c.groome@avivagen.com
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