BioVaxys Technology Corp. Completes Third Tranche of Private Placement Funding

BioVaxys Technology Corp. Completes Third Tranche of Private Placement

On January 10, 2025, BioVaxys Technology Corp. (CSE: BIOV, FRA: 5LB) announced a significant milestone in its funding efforts, successfully closing the third tranche of a non-brokered private placement. This funding round saw the issuance of 10,750,000 units at a price of $0.05 per unit, generating gross proceeds of $537,500. This capital is pivotal for the company as it aims to bolster its working capital and expedite its ongoing projects.

Details of the Funding

Each unit in this tranche comprises one common share and one whole share purchase warrant. The warrants are convertible into an additional share at an exercise price of $0.15 each, valid until January 10, 2027. This timeline represents a strategic opportunity for investors as it allows them to capitalize on potential future growth.

The company indicated that the proceeds would primarily serve as working capital, reinforcing its operational foundation. Additionally, all securities issued under this tranche are subject to a statutory hold period, which ends on May 11, 2025, in compliance with applicable securities regulations.

Upcoming Tranches and Debt Settlement

Looking ahead, BioVaxys is preparing to close the fourth and final tranche of the private placement on or before January 24, 2025. This is an exciting development for stakeholders as it will potentially draw in additional capital to support the company’s innovative healthcare solutions.

In a noteworthy move reflecting the company’s financial maneuvers, BioVaxys also announced the issuance of 5,000,000 unrestricted shares priced at $0.10 per share. This issuance was made in satisfaction of $500,000 in debt owed to an external consultant, marking a smart strategy to streamline its financial obligations while fostering key relationships with partners.

About BioVaxys Technology Corp.

BioVaxys is a clinical-stage biopharmaceutical firm based in British Columbia, Canada, dedicated to pioneering immunotherapy treatments using its proprietary DPX™ immune-educating technology platform and the HapTenix© neoantigen tumor cell construct. With a focus on various diseases, including cancers and infectious diseases, BioVaxys is committed to enhancing patient outcomes through its targeted therapeutic solutions.

The company’s DPX platform is designed to create long-lasting immune responses by delivering antigens effectively to regional lymph nodes. This innovative approach has shown promising results in pre-clinical and clinical studies, indicating the potential for significant advancements in therapeutic areas currently in need of innovation.

BioVaxys’ shares are listed on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange, making it accessible to a broad investor audience. Interested investors can find more information on the company’s initiatives through their official website at www.biovaxys.com, as well as their profiles on social media platforms like X and LinkedIn.

Conclusion

As BioVaxys Technology Corp. moves forward with its strategic funding initiatives, the completion of the third tranche of the private placement marks a positive outlook for the company's future. The funding not only reinforces the company's operational capacity but also serves as a crucial step towards achieving its ambitious goals within the biopharmaceutical landscape. Stakeholders will be keen to see how the final tranche unfolds and how these developments will favorably impact BioVaxys moving into the future.