Archive
Avivagen Inc. Announces the Exercise of Warrants
Ottawa, ON / TheNewswire / November 29 2016 – Avivagen Inc. (TSXV: VIV, OTC Pink: CHEXF), a life sciences company commercializing products intended to replace the antibiotics added to livestock feeds, announces the exercise of previously issued common share purchase warrants (the "Warrants"). The Warrants have been exercised at prices between CDN$0.06 to CDN$0.12 per common share for a total issuance of 31,567,366 common shares. Proceeds received from the exercise of the Warrants were CDN$3,548,684.67.
The Warrants were issued in connection with private placements of units by the Corporation completed between 23 November 2011 and 1 June 2016. As of the close of business on 29 November 2016, Avivagen has 288,454,427 common shares issued and outstanding.
The current cash and cash equivalents is CDN$5.9M and a further CDN$ 0.8 million remains available from a credit facility.
Avivagen (TSXV: VIV, OTC Pink: CHEXF) is a life sciences company commercializing products to replace the antibiotics used in livestock feeds, initially concentrating on the two largest feed segments – swine and broiler poultry. Avivagen is based in partnership facilities of the National Research Council of Canada in Ottawa, Ontario and Charlottetown, Prince Edward Island.
Forward Looking Statements
Avivagen faces risks and uncertainties in connection with its business, including, but not limited to, the following: Avivagen’s ability to continue as a going concern; the results of ongoing or future trials may not be positive or sufficiently positive; even if the results of trials are positive, there is no guarantee that Avivagen’s products will be commercially successful or that requisite registrations or regulatory approvals will be obtained or maintained; the timing and results of trials may be delayed or may not be completed at all; and intellectual property rights may prove inadequate to protect Avivagen’s inventions. The readers should also refer to the risk factors in Avivagen’s Annual Information Form. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, 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
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com
Renmark Financial Communications Inc.
Bettina Filippone – bfilippone@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989 – www.renmarkfinancial.com
Copyright © 2016 Avivagen Inc.