Salute e Benessere
BIOVAXYS PROVIDES PRIVATE PLACEMENT UPDATES
The Private Placement was originally announced on July 23, 2024 (up to 10,000,000 Units for up to $500,000 ), and upsized on each of July 26, 2024 (up to 20,000,000 Units for up to $1,000,000 ), and September 20, 2024 (up to 30,000,000 Units for up to $1,500,000 ). Tranches of the Private Placement closed on each of July 29, 2024 , August 2, 2024 , September 11, 2024 , September 23, 2024 , and October 4, 2024 .
In aggregate, the Company issued 24,812,340 Units raising $1,240,617 . Each Unit consisted of one common share in the capital of the Company (each, a " ") and one whole Share purchase warrant (each, a " "), whereby each Warrant is convertible into one additional Share at an exercise price of $0.15 for a period of 24 months from the date of issue. Finder's fees totalled $4,800 in cash and 96,000 finder's warrants with the same terms as the Warrants were issued.
In addition, the Company announces that it intends to issue 1,196,908 units of the Company, each priced at $0.03 (the " "), in connection with funds received by the Company pursuant to its private placement offering announced January 8, 2024 (the " "). Each Proposed Unit consists of one common share in the capital of the Company (each, a " ") and one whole Common Share purchase warrant (each, a " "), whereby each Common Share Warrant is convertible into one additional Common Share at an exercise price of $0.05 for a period of 24 months from the date of issue. The terms and conditions of the Proposed Units mirror the units that were previously issued on January 31, 2024 , and February 16, 2024 (together, the (" "), pursuant to the Offering.
When closing the Offering, the Company failed to convert funds received in United States currency to Canadian dollars when calculating the number of securities to issue in the $0.03 Unit Tranches and, thereby, inadvertently issued too few units to certain subscribers. The issuance of the Proposed Units will correct the number of securities that should have been issued in the $0.03 Unit Tranches.
All securities issued pursuant to the issuances of the Proposed Units will be subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities laws. The issuance of the Proposed Units is subject to the approval of the Canadian Securities Exchange.
The securities described herein have not been, and will not be, registered under the , as amended (the " "), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States .
BioVaxys Technology Corp. ( www.biovaxys.com ), a company registered in British Columbia, Canada , is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it's HapTenix© 'neoantigen' tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. DPX™ is a patented antigen delivery platform that can incorporate a range of bioactive molecules to produce targeted, long-lasting immune responses enabled by various formulated components. The DPX platform facilitates antigen delivery to regional lymph nodes and has been demonstrated to induce robust and durable T cell and B cell responses in pre-clinical and clinical studies for both cancer and infectious disease. BioVaxys' common shares are listed on the Canadian Securities Exchange under the stock symbol "BIOV", on the Frankfurt Bourse (FRA: 5LB), and quoted in the US on the OTC Markets. For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
Signed " "
James Passin, Chief Executive Officer
Phone: +1 740 358 0555
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