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VANCOUVER, BC, May 10, 2024 /PRNewswire/ -- BioVaxys Technology
Corp. (CSE: BIOV) (FRA: 5LB) (the "Company") is pleased to
announce that it has closed the second tranche (the "Second
Tranche") of its previously announced non-brokered private
placement (the "Private Placement") with the issuance of
4,301,923 units (the "Units") of the Company at a price of
$0.065 per Unit for aggregate gross
proceeds of $279,625.00.
Each Unit consists of one common share in the capital of the
Company (each, a "Share") and one whole common share
purchase warrant (each, a "Warrant"), whereby each Warrant
is convertible into one additional Share at an exercise price of
$0.15 until May 10, 2026, being the date that is 24 months
from the date of issue.
The Company intends to use the net proceeds of the Private
Placement for general working capital purposes, including, enabling
the Company to fund and advance its business plans in regard to its
successful recent acquisition on February
16, 2024, of the entire portfolio of discovery, preclinical
and clinical development stage assets in oncology, infectious
disease, antigen desensitization, and other immunological fields
based on the DPX™ immune educating platform technology, developed
by the former Canadian biotechnology company, IMV Inc.,
Immunovaccine Technologies Inc., and IMV USA.
All securities issued pursuant to the Second Tranche are subject
to a statutory hold period under applicable Canadian securities
laws expiring September 11, 2024,
being the date that is four months and one day from the date of
closing of the Second Tranche.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
offered have not been and will not be registered under the
United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may
not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons
unless registered under the U.S. Securities Act and applicable
state securities laws, unless an exemption from such registration
is available.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a
biopharmaceuticals 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. The Company's
clinical stage pipeline includes maveropepimut-S which is in Phase
II clinical development for advanced Relapsed-Refractory Diffuse
Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian
cancer, and BVX-0918, a personalized immunotherapeutic vaccine
using it proprietary HapTenix© 'neoantigen' tumor cell construct
platform which is soon to enter Phase I in Spain for treating refractive late-stage
ovarian cancer. The Company is also capitalizing on its tumor
immunology know-how and creation of a unique library of
T-lymphocytes & other datasets post-vaccination with its
personalized immunotherapeutic vaccines to utilize predictive
algorithms and other technologies to identify new targetable tumor
antigens. BioVaxys common shares are listed on the CSE under the
stock symbol "BIOV" and trade on the Frankfurt Bourse (FRA: 5LB)
and in the US (OTCQB: BVAXF). For more information, visit
www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed "James Passin"
James Passin, Chief Executive
Officer
Phone: +1 646 452 7054
Cautionary Statements Regarding Forward Looking
Information
This news release contains certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
securities legislation. Forward-looking statements are frequently,
but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or" should" occur or
be achieved. All statements, other than statements of historical
fact, included herein, without limitation, statements relating to
the use of proceeds, the benefits of the Private Placement, and the
receipt of regulatory approvals are forward-looking statements.
There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially
different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and
the parties have made assumptions and estimates based on or related
to many of these factors. Such factors include, without limitation,
the ability to obtain necessary approvals, the Company's ability to
advance its business plans and the results thereof, continued
availability of capital, and changes in general economic, market
and business conditions. Readers should not place undue reliance on
the forward-looking statements and information contained in this
news release concerning these items. The Company does not assume
any obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by applicable securities laws.
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