Avivagen Announces AGM Results

Rhea-AI Summary

Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) held its annual general meeting on April 19, 2023, where shareholders approved all resolutions, including the election of directors and the reappointment of McGovern Hurley LLP as auditors. Notably, Kym Anthony received 51.2% of votes, while Graham Burton and David Hankinson scored 93.4% and 94.3% respectively. The meeting marked the departure of board members Jeffrey Kraws and Aubrey Dan, with David Hankinson appointed as Chair and Kym Anthony as Vice-Chair. Avivagen focuses on developing health products for livestock and pets, leveraging its OxC-beta™ technology to enhance immune function and promote growth without antibiotics, which is available in several countries including the U.S. and Australia.

Positive

• Shareholder support for all resolutions at the AGM.
• Successful election of directors with significant vote percentages.
• Appointment of experienced board members enhancing governance.
• Advancements in OxC-beta™ technology addressing antibiotic replacement.

Negative

• Departure of two board members may impact continuity.
• Kym Anthony's lower vote of 51.2% raises potential concerns about shareholder confidence.

OTTAWA, Ontario--(BUSINESS WIRE)-- Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Company”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, today announced the results of its annual general meeting of shareholders held on April 19, 2023.

At the Company’s AGM, shareholders voted to support all of the resolutions that came before the meeting. The resolutions included the election of directors and the reappointment of McGovern Hurley LLP as Avivagen’s auditor.

The voting results in respect of the election of directors are detailed below:

Nominee	% Of Votes Cast At The Meeting Which Were Cast For the Election of Directors
Kym Anthony	51.2%
Graham Burton	93.4%
David Hankinson	94.3%
Paul Mesburis	61.8%

Leaving the Avivagen board are Jeffrey Kraws and Aubrey Dan, each of whom opted not to stand for reelection at the AGM. Avivagen and its board of directors thank each of Mr. Kraws and Mr. Dan for their service to the Company and wish them the best.

David Hankinson has been appointed as Chair of the board of directors to replace Mr. Kraws and Kym Anthony has been appointed Vice-Chair of the board.

About Avivagen

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 β-carotene 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 and OTCQB® Venture Market exchanges under the symbols VIV and VIVXF, 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. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™ Technology and OxC-beta™ Livestock

Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Mexico, Philippines, Taiwan, New Zealand, Thailand, Australia and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements 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 “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions.

Statements set out in this news release relating to the market opportunities for the Company, the expectation that Avivagen’s current position positions it for future growth, expectation as to further adoption of or orders for the Company’s products, the possibility that trials underway could lead to additional orders in the future and the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters are forward-looking statements. 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. For instance, unforeseen factors could limit the growth of the Company and the adoption of its products, customers are under no obligation to make additional orders and may not order increasing quantities of the Company’s products, partnerships may not be as successful as hoped, trials may not be successful or may not lead to additional adoption of the Company’s products, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics as growth promoters in livestock feeds, all of which could occur due to many factors, many of which are outside of Avivagen’s control. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. 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.

Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230419006003/en/

For more information:

Avivagen Inc.

Drew Basek

Director of Investor Relations

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6

Phone: 416-540-0733

E-mail: d.basek@avivagen.com

Kym Anthony

Chief Executive Officer

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Head Office

Phone: 613-949-8164

Website: www.avivagen.com

Source: Avivagen Inc.

FAQ

What were the results of Avivagen's AGM on April 19, 2023?

All resolutions were approved, including the election of directors and the reappointment of auditors.

Who were the newly elected board members at Avivagen's AGM?

Kym Anthony, Graham Burton, David Hankinson, and Paul Mesburis were elected.

What technology does Avivagen utilize for livestock health?

Avivagen uses OxC-beta™ technology to enhance immune function and promote growth without antibiotics.

What is the stock symbol for Avivagen?

The stock symbol for Avivagen is VIVXF on the OTCQB.

How did Kym Anthony perform in the shareholder vote?

Kym Anthony received 51.2% of the votes cast at the AGM.