VANCOUVER, BC, June 20, 2025 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) ("BioVaxys" or the "Company") announces that it has amended the terms of its brokered private placement LIFE financing (the "Offering") previously announced on May 30, 2025, and filed an amended offering document (the "Amended Offering Document"). The Amended Offering Document updates the exercise price of the common share purchase warrant that forms part of the units ("Units") being offered by the Company from a post-consolidation exercise price of $0.60 to a post-consolidation exercise price of $0.50.
As previously announced, the Company intends to consolidate the common shares of the Company (the "Common Shares") on the basis of ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"), and complete a concurrent Offering consisting of a minimum of 5,714,285 Units at a post-Consolidation price of $0.35 per Unit for minimum gross proceeds of $2,000,000 and a maximum of 8,571,428 Units at a post-Consolidation price of $0.35 per Unit for maximum gross proceeds of up to $3,000,000.
Each Unit will consist of one (1) post-Consolidation common share in the capital of the Company ("Post-Consolidation Common Share") and one (1) Post-Consolidation Common Share purchase warrant ("Post-Consolidation Warrant"). Each Post-Consolidation Warrant will entitle the holder to purchase one Post-Consolidation Common Share at a post-Consolidation price of $0.50 for a period of 36 months from the closing date of the Offering.
Closing of the Offering is anticipated to occur on or about June 30, 2025, or such other date as the Company may agree upon, provided such date is on or before July 14, 2025. Closing is subject to certain conditions, including acceptance by the CSE. The Company intends to use the net proceeds from the Offering for research and development, general corporate purposes, and working capital.
Subject to regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Units will be offered to purchasers in all provinces and territories of Canada, except Quebec, under the listed issuer financing exemption ("LIFE"). The securities issued will not have resale restrictions under Canadian securities laws.
There is an Amended Offering Document dated June 18, 2025, available through the Company's profile at www.sedarplus.ca and on the Company's website at https://www.biovaxys.com/. Prospective investors are advised to review this document prior to making an investment.
This news release includes forward-looking statements regarding the proposed Consolidation, the Offering, and other future plans. Such statements are subject to risks and uncertainties that could cause actual results to differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the beliefs and assumptions as of the date of this release.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceutical company based in British Columbia, Canada, is dedicated to developing novel immunotherapies including the DPX™ platform and HapTenix® tumor cell platform, targeting cancers, infectious diseases, food allergies, and other immunological conditions. Its pipeline includes maveropepimut-S (MVP-S), currently in Phase IIB trials for DLBCL and platinum-resistant ovarian cancer, as well as other immunotherapies such as DPX+SurMAGE, DPX®-RSV, DPX+rPA, and BVX-0918.
Shares are listed on the CSE under "BIOV" and also trade on the Frankfurt Bourse (FRA: 5LB) and OTC Markets (OTCQB). More information is available at www.biovaxys.com.
ON BEHALF OF THE BOARD
Signed "James Passin"
James Passin, Chief Executive Officer
Phone: +1 740 358 0555
Revolutionizing treatment delivery