Avivagen Inc V.VIV

Third Quarter results July 31

[Jackal23]

Avivagen Inc. Announces Record Revenue for the Third Quarter Ending July 31, 2020

Sep 03, 2020

• Significant increase in revenue driven by significant new and existing customer orders
• Achieved product sales volume in Q3 equal to 85% of entire 2019 fiscal year volume
• Customers’ purchasing patterns confirm a recurring revenue business model

Ottawa, ON /Business Wire/ September 3rd, 2020 / Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Corporation”), a world leader in natural alternatives to antibiotics with its OxC-beta™ technology, has announced its unaudited financial results for the third quarter of 2020.

For the three-month period ended July 31, 2020, the Corporation reported revenues of $612,530, an increase of $600,046 over the three-month period ended July 31, 2019 and also a significant increase over the second quarter of 2020 revenues of $29,625. The increase in revenues were driven by two major sales during the quarter, including record-setting orders from Mexico-based Industrias Melder and Philippines-based UNAHCO. Additional sales were also secured in markets including Taiwan and Thailand, while regulatory approval and distribution agreements secured during the quarter in Brazil have already led to the company’s first order in the fourth quarter in the third largest livestock feed market in the world.

“We are very pleased to report the strongest revenue quarter in the Corporation’s history, headlined by record-setting sales in some of the world’s most important feed production markets,” says Kym Anthony, Chief Executive Officer, Avivagen Inc. “We have made strong inroads worldwide, and continue to secure regulatory approvals and distribution agreements that provide us with access to some of the largest feed producers around the globe. As both our global customer base and recurring order volumes continue to grow we expect to see greater quarter-to-quarter consistency in sales volume in future periods, but our third quarter results are further evidence of our ability to quickly overcome any sales timing lumpiness to deliver consistent revenue growth and shareholder value on an ongoing basis.”