Avivagen Inc. Announces Proposed Extension of Warrants and Grant of Options
Avivagen Inc. (VIVXF) seeks TSX Venture Exchange approval to extend the expiration date for 2,029,250 warrants originally set for June 30, 2021, to January 28, 2022, at an exercise price of $1.20 per share. Additionally, the Board approved 200,000 options for an officer at a strike price of $0.50 per share. Avivagen focuses on developing products that enhance immune function for livestock and companion animals, using its proprietary OxC-beta™ technology. The company aims to replace antibiotics in livestock feeds.
- Request for warrant extension could enhance liquidity and shareholder confidence.
- Issuance of stock options aligns interests of management with shareholder value.
- Warrant extension approval is contingent on external factors beyond the company's control.
- Potential market acceptance and regulatory approval for products remain uncertain.
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Corporation”),a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhance and support immune function, thereby supporting general health and performance, announces that it will be requesting approval from the TSX Venture Exchange for the extension of the expiration date of warrants exercisable to purchase 2,029,250 common shares at
Avivagen also announces that its Board of Directors has approved the issuance of 200,000 options to an officer and director of the Corporation with a strike price of
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, and Malaysia.
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 possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters and the proposed warrant extension 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. The warrant extension is conditional on TSX Venture Exchange approval and the agreement of Computershare Trust Company of Canada which acts as Warrant Agent for such warrants, both 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 © 2021 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.
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FAQ
What is Avivagen Inc. requesting approval for regarding warrants?
What is the exercise price for the warrants being extended by Avivagen?
How many stock options has Avivagen issued to its officer?
What is Avivagen's focus in the life sciences sector?
What technology does Avivagen utilize to promote health in livestock?
