Avivagen Closes Private Placement
03 Outubro 2013 - 9:00AM
Access Wire
OTTAWA, ONTARIO, (Accesswire - October
3, 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 has closed its
previously announced private placement of units for gross proceeds
of $2,075,304. Avivagen is pleased that the high level of interest
from investors allowed it to raise more than the $1.5 million
minimum raise it had been targeting as per its previous press
release.
"This funding will provide Avivagen greater means
to build its business and drive sales of its Companion Animal and
Livestock product lines," stated C.E.O. & President Cameron
Groome. "We are thankful to the institutions, investment advisors
and individual investors that participated and are hard at work
justifying their support." "Concurrently, I am pleased to announce
a personal commitment to monthly open-market purchases to augment
my interests in Avivagen common shares," concluded Mr. Groome.
The private placement was comprised of the sale of
29,647,202 units with each unit being comprised of one
common share and one-half of a common share purchase warrant, for a
unit price of $0.07. Each whole warrant entitles the holder to
acquire one common share of Avivagen at an additional purchase
price of $0.12 for three years from closing.
Avivagen paid a total of $124,228.20 in cash and issued a total
of 1,774,689 common share purchase warrants to finders in
connection with the private placement. Each finders' warrant is
exercisable into one common share of the Company for a period of
two years at a price of $0.10 per share.
All securities issued via this placement are subject to
statutory hold period expiring on February 2, 2014.
The private placement remains subject to TSX Venture Exchange
approval.
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 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. The forward-looking statements
reflect the current expectations of Avivagen Inc. regarding future
results or events. 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. 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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