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VANCOUVER,
BC, Jan. 10, 2025 /CNW/ -- BioVaxys Technology
Corp. (CSE: BIOV) (FRA: 5LB) ("BioVaxys" or the
"Company") is pleased to announce that it has closed the
third tranche (the "Third Tranche") of its previously
announced non-brokered private placement (the "Private
Placement") with the issuance of 10,750,000 units (the
"Units") of the Company at a price of $0.05 per Unit for aggregate gross proceeds of
$537,500.
Each Unit consists of one (1) common share in the
capital of the Company (each, a "Share") and one (1) whole
Share purchase warrant (each, a "Warrant"), whereby each
Warrant is convertible into one additional Share at an exercise
price of $0.15 until January 10, 2027, being the date that is 24
months from the date of issue.
The Company intends to use the net proceeds of
the Third Tranche for working capital. No finder's fees were paid
in connection with the Third Tranche. All securities issued
pursuant to the Third Tranche are subject to a statutory hold
period expiring May 11, 2025, being
the date that is four months and one day from the date of issuance
in accordance with applicable securities legislation.
The Company anticipates closing the fourth and
final tranche of the Private Placement on or about, but no later,
than January 24, 2025.
In addition, further to its news release of
December 13, 2024, the Company
reports that it has issued 5,000,000 unrestricted Shares at a
deemed price of $0.10 per Share in
settlement of an aggregate of $500,000 in debt that was owed to an arm's-length
consultant of the Company (the "Debt Settlement").
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. The securities
described herein 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 except in compliance with the registration requirements
of the U.S. Securities Act and applicable state securities laws or
pursuant to available exemptions therefrom.
About BioVaxys Technology Corp.
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.
ON BEHALF OF THE BOARD
Signed "James
Passin"
James Passin, Chief Executive
Officer
Phone: +1 740 358 0555
Cautionary Statements Regarding Forward
Looking Information
This news release includes certain
"forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the
meaning of applicable securities legislation. All statements, other
than statements of historical fact, included herein, without
limitation, statements relating to the Private Placement, including
the expected use of proceeds from the Private Placement and the
fourth and final tranche thereof, are forward-looking statements.
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. There can
be no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
expressed or implied in such forward-looking statements.
These 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,
primarily the assumption that BioVaxys will be successful in
developing and testing vaccines, that, while considered reasonable
by BioVaxys, 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 impact of any changes that may affect the anticipated use of
proceeds from the Private Placement. BioVaxys 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.
The Canadian Securities Exchange has not
reviewed, approved nor disapproved the contents of this press
release and does not accept responsibility for the adequacy or
accuracy of this release.
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SOURCE BioVaxys Technology Corp.
