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Avivagen Announces Sales of Companion Animal Product and Management Change
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Avivagen Inc. (TSXV: VIV, OTCQB: VIVXF) announces significant sales growth for its companion animal products, securing 6,000 orders from customers in Taiwan and Mexico. This includes a 1,500-unit order from a Taiwanese partner, marking their largest order this year. A new Mexican distributor ordered 4,000 units for its brand, with another order of 500 units to be marketed via veterinary clinics. The company’s Chief Financial Officer, Chris Boland, has departed, with a new CFO to be announced soon.
Positive
6,000 units sold to new and existing customers in Taiwan and Mexico.
1,500-unit order from Taiwan represents largest single order this year.
New Mexican distributor ordered 4,000 units for branding.
Negative
Departure of CFO Chris Boland could indicate instability in financial leadership.
6,000 pouches ordered via new and existing customers in Taiwan and Mexico
Chris Boland departs role as Chief Financial Officer
OTTAWA, Ontario--(BUSINESS WIRE)--
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), 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, is pleased to announce significant new and expanded sales of the company’s companion animal products. The new sales include a 1,500-unit order for Vivamune from an existing distribution partner in Taiwan, as well as two new customer wins in Mexico.
The 1,500 unit order represents the largest single order from Avivagen’s Taiwan-based distribution partner this year and reflects increased consumer awareness and interest for Vivamune in Taiwan. OxC-beta complex is also used as a key ingredient by a leading producer of premium dog food in Taiwan, as the company recently expanded its product line of dog food containing OxC-beta to include canned food in addition to its dry kibble product.
The first of two new customers in Mexico, an independent distributor of high-quality nutritional products for dogs, has ordered 4,000 units of white labelled product which it will market under its own brand. The second Mexican customer has placed an initial order for 500 units of Vivamune, which follows its own successful internal study and which it plans to market through veterinary clinics and hospitals.
“We are seeing great interest and opportunity for Avivagen in the companion animal market today. These new sales and customer wins in key markets like Taiwan and Mexico follow sales in Canada and the U.S., and are clear signs of the growing demand for our companion animal product as an important part of promoting pet health,” says Kym Anthony, Chief Executive Officer of Avivagen. “We are excited to be expanding our customer base and recurring business in these areas.”
Avivagen also today announced the departure of Chris Boland as Chief Financial Officer. The company expects to announce a new leader for its financial functions in the near term.
“We thank Chris for his efforts and dedication to Avivagen and look forward to announcing a new financial leader to support the next phase of our growth around the globe,” adds Anthony.
About Avivagen
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. 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, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, Vietnam 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 future growth and prospects for Avivagen 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, 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 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.
