BioVaxys Technology Corp. C.BIOV

BIOV CLOSES FINAL TRANCHE OF NON-BROKERED PVT PLACEMENT

[Humanist]

BioVaxys Closes Final Tranche of Non-brokered Private Placement
  by @newswire on 28 Feb 2022, 08:00
 
VANCOUVER, BC, Feb. 28, 2022 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) ("BioVaxys" or the "Company") is pleased to announce that it has closed the second and final tranche (the "Final Tranche") of its previously announced non-brokered private placement (the "Private Placement").
 
Pursuant to Final Tranche of the Private Placement, the Company has issued 2,643,0333 units ("Units") at a price of $0.15 per Unit for gross proceeds of $396,500. Including the first tranche of the Private Placement which completed on February 10, 2022, the Company raised total aggregate gross proceeds of $798,500. Each Unit consists of one common share (a "Common Share") and one whole Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable for one additional Common Share at an exercise price of $0.30 for a period of 36 months. There were finder's fees totalling $18,840 paid in connection with the Final Tranche.

All securities issued pursuant to Final Tranche of the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. The Company intends to use the net proceeds of the Private Placement for working capital.

About BioVaxys Technology Corp.
Based in Vancouver, BioVaxys Technology Corp. is a British Columbia-registered, early stage biotechnology company that is developing viral and oncology vaccine platforms, as well as immuno-diagnostics. The Company is advancing a SARS-CoV-2 vaccine based on its haptenized viral protein technology, and is planning a clinical trial of its haptenized autologous cell vaccine used in combination with anti-PD1 and anti-PDL-1 checkpoint inhibitors that will initially be developed for ovarian cancer. Also in development is a diagnostic for evaluating the presence or absence of a T cell immune response to SARS-CoV-2, the virus that causes COVID-19. BioVaxys has two issued US patents and two patent applications related to its cancer vaccine, and pending patent applications for its SARS-CoV-2 (Covid-19) vaccine and diagnostic technologies. BioVaxys common shares are listed on the CSE under the stock symbol "BIOV" and trades on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF).
ON BEHALF OF THE BOARD
Signed "James Passin"
James Passin, CEO
[phone]