#Canada #Vancouver #Cancer Immunotherapy #BioVaxys #Convertible Debentures

BioVaxys Technology Corp. Updates Investors on Financial Developments

BioVaxys Technology Corp. is making waves in the biopharmaceutical sector as it announces an intention to proceed with a private placement of unsecured convertible debentures. This initiative, aiming to raise up to $500,000, marks a significant step for the company as it seeks to enhance its financial stability and support ongoing research and development initiatives.

Details of the Offering

The upcoming offering will involve issuing debentures that will mature on August 30, 2026, with an attractive interest rate of 10% per annum, paid quarterly either in cash or in shares of the company. These debentures are unsecured and designed to be converted into common shares at the holder's discretion, thus offering flexibility and potential growth to investors should the company's share price increase.

For every $1,000 invested in these debentures, participants will receive 4,000 transferable common share purchase warrants, allowing them to purchase additional shares at a price of $0.25 each. The warrants can be exercised for a duration of 12 months, providing early investors a chance to capitalize on potential future growth.

Purpose of the Funds

The funds raised from this offering are earmarked for various essential purposes, including advancing clinical research, bolstering working capital, and other general corporate expenses. The company anticipates that key insiders will participate in this round of funding, leading to potential related party transactions that will be closely monitored per regulatory guidelines. BioVaxys intends to rely on exemptions for formal valuation requirements as outlined in Multilateral Instrument 61-101.

Consolidation Plan

In conjunction with this offering, BioVaxys has also revealed plans for a consolidation of their shares, proposing a ratio of ten pre-consolidation shares for every one post-consolidation share. This strategy aims to improve the company's share structure and could potentially enhance shareholder value. Currently, BioVaxys has approximately 293 million shares outstanding, which will significantly decrease post-consolidation. The conversion of convertible securities and related warrants will be adjusted proportionately to ensure fairness to all shareholders.

About BioVaxys

BioVaxys Technology Corp. is at the forefront of biopharmaceutical innovation, with its head office based in Vancouver, British Columbia. The company is pioneering new immunotherapy treatments aimed at tackling serious diseases including various cancers, food allergies, and infectious diseases using advanced therapeutic platforms. Among their prominent pipelines is the clinically validated vaccine MVP-S, which targets survivin, a well-known cancer antigen. With a strong focus on delivering effective immunotherapies, BioVaxys is poised for significant impact within the healthcare sector.

The company’s shares are traded on the CSE under the ticker